By the Numbers
For the ninth month in a row, Redfin is reporting more than half the homes offered by their agents are facing competition at 56%.
Home construction continued to surge across the nation, which reflected the projection that new homes will help moderate price growth over the next 12 months.
Areas hit hard by the pandemic could see a wave of zombie properties once the federal ban on foreclosures expires.
A new report from CoreLogic shows that record-low interest rates and a spike in lower-risk refinance originations have driven the trend.
The new S&P CoreLogic Case-Shiller Home Price Index reveals record-breaking August for home sales, up 21% over the 2006 pre-Great Recession high.
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.
“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.
“Based on the rising popularity of the burbs, some buyers might think they can catch a break by searching in the city, but unfortunately that’s not the case,” realtor.com Chief Economist Danielle Hale said.
Nationwide sales of new single-family homes were at a seasonally adjusted rate of 901,000, up 13.9% from last month and 36.3% higher than July 2019.
Austin and Dallas are becoming big destination cities for those looking to relocate. Could Houston be next?
New listings back above pre-COVID-19 levels nationwide but still down from the previous year, according to realtor.com.
ATTOM Data Solutions’ report of increased equity in residences across the country could be good news for the nation’s ability to absorb potential wave of foreclosures.
Nearly two million jobs were restored in July, as the economy struggles to return to pre-pandemic levels.
Zillow reports that homes typically went under contract in two weeks.
See how the South did last month compared to the rest of the nation.
“Markets with stronger job creation pre-COVID are proving to have the crucial edge for real estate activity, particularly those with a strong technology sector.” — Javier Vivas, director of economic research for Realtor.com