Current Market Data
“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi
The median existing-home price for all housing types in September was $352,800, up 13.3% on an annual basis, as every region in the country registered price increases.
New listings have slowed again in Houston’s real estate market, falling 8.9% during the week ended Oct. 18, according to the Houston Association of Realtors (HAR) weekly activity snapshot. This nearly 9% decline followed a 1.3% year-over-year decline in
As the intense demand for homes continues to outmatch supply nationwide, buying a home is becoming an increasingly expensive feat. The median value of a home in the U.S. is $281,370, an 11.6% increase over the last year. Meanwhile,
Lack of inventory continues to restrict home sales as fewer homes sold in September, and closed home sales dropped.
The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.
Days on market rose 7.4% from August, and months supply of inventory slid 5.6%, according to RE/MAX’s National Housing Report.
Climate change will negatively impact the already-stunted housing inventory in the U.S., according to a recent Redfin report.
It’s been barely three months since the federal moratorium on foreclosures expired, but it’s starting to prove costly, as nationally, foreclosures are on the rise, having increased 67% from last year.
While the past year has been unprecedented in terms of economic change and a global pandemic, most U.S. home sellers’ experiences were similar to past years, according to Zillow’s latest consumer housing trends report. Consistent with the past three