Current Market Data
Most Realtors know a fresh coat of new paint can transform a space, but do they know which colors will attract buyers? A new study has the answer.
Homesellers continued to sell homes to each other in September, making the market resemble a game of ‘housing musical chairs,’ according to First American chief economist Mark Fleming.
“If sky-high prices continue to lure more sellers into the market, it could prompt the inventory rebound we’ve been waiting for — which would be welcome news for frustrated buyers.” — Javier Vivas, director of economic research for realtor.com
Inventory shrinks to its lowest level in nearly six years.
“Increasing house price appreciation in suburban zip codes points to higher demand relative to supply in the suburbs but does not necessarily indicate what’s fueling the demand,” the study notes.
The growth rate in median sale prices in Texas reflects the relative strength of demand for higher-priced homes, while the lower-end of the market has been more vulnerable to recent employment shocks and constrained inventory.
Four months into the pandemic, the 120-day delinquency rate for July spiked to 4.1%, the highest rate in more than 21 years and double the December 2009 Great Recession peak.
The work from home phenomenon — and the need for a dedicated home office— is driving demand for more space among both buyers and renters.
The suburbs are becoming more alluring to residents of major cities as the COVID-19 pandemic continues into autumn.
Battling supply-chain disruptions, labor shortages and escalating lumber prices, housing manufacturers remain optimistic heading into fall.
The latest HPI Forecast predicts home price growth will slow over the next 12 months through August 2021 with price declines in 27 states.
The 2010 decade grew the amount of overall building conversions from about 2,000 units converted in the 1950s to roughly 97,000 over the last decade.
This year, buyers encountered a 21% decrease in listings from the beginning of 2020, along with a 17% price increase to about $20,000 more than anticipated.
August contract signings exceeded pre-pandemic levels, according to the latest Pending Homes Sales Index from the National Association of Realtors.
It was a hard-fought effort to procure federal funds in the middle of a recession, but NAR announced that the president is poised to sign a bill that provides money for road projects and flooding.
The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index shows home prices continued to rise at a modest rate across the country in July.
