There were nearly half the amount of homes for sale at the end of February in comparison to a year earlier. The inventory of homes for sale in February decreased by 48.6% over the past year, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for… [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]
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]
Unexpected Dip in October U.S. Pending Home Sales
Pending home sales in the U.S. fell for a second straight month in October according to the National Association of Realtors. Among the four major U.S. regions, contract activity was mixed. Each region achieved year-over-year gains in pending home sales transactions but the only positive month-over-month growth happened in the South. The National Association of… [Read More]
U.S. Housing Market Pauses But Remains Hot
A new report released by relator.com finds the U.S. housing market took a breather recently. During the first week of November, buyers and sellers focused on current events according to the report. Between the presidential election and a rise in coronavirus cases, buyers and sellers had a reason hesitate according to the report. Even while… [Read More]