Home sales fell for the fourth month in a row, but prices continue to rise– more evidence that there aren’t enough houses to go around. That’s according to data released last month by the National Association of Realtors. Of the 4 major U.S. regions, only the mid-west recorded a month-over-month increase. The other three regions… [Read More]
Lumber Shortage Sends Home Prices Soaring
As the housing market tightens, potential buyers are flocking to new construction in record numbers, but several factors are making those homes much more expensive than ever before. The first is a significant shift in the market’s composition because of the scarcity of existing properties. About one out of every four homes for sale is… [Read More]
One Year Later: How the Pandemic Impacted the U.S. Housing Market
It was one year ago this month that the World Health Organization declared Covid-19 a pandemic. Coronavirus has upended nearly every aspect of our daily lives, including where we live and where we work. For many people, both are now in the same location. It’s been no different for buying and selling homes across the… [Read More]
Home listings Fall to Record Low Causing Bidding Wars
A nationwide survey conducted by Redfin found that nearly 56% of offers for homes faced bidding wars in January, up nearly 4% from December of last year. More than half of homes are now going under contract in less than two weeks. This marks the ninth consecutive month where more than half of home offers… [Read More]
January 2021 Existing-Home Sales and Prices Rise
Sales of U.S. homes rose again in January, signaling the strong momentum from 2020 may be carrying over into this year. According to a report released by the National Association of Realtors, data shows that housing market activity rose a modest 0.6% from the previous month. January’s existing home sales reached 6.69 million, a seasonally… [Read More]
2020 Housing Market Gains More Value Than Any Year in Past 15 Years
The U.S. Housing Market shows no sign of slowing down after a record-setting year. According to a new Zillow analysis, the housing market gained about $2.5 trillion in value last year. It was the most in any single year since 2005. The full stock of the market is now worth $36.2 trillion. Demand for housing… [Read More]