By the Numbers
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
A new report that rent is still rising, but by much less in most cities, as a result of the COVID-19 crisis.
More than half of those working remotely said they would leave the city if they didn’t have to go into an office.
It seems 2020 will be a challenge for buyers – “not because of what they can afford but rather what they can find,” according to Realtor.com.