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]
Charlotte #1 Destination for Millennials and Their Baby Boomer Parents
Millennials, today’s top home purchasers, have a significant influence on where baby boomers, the second largest group of buyers, choose to live. Retirement generally entails a full lifestyle transition, and many baby boomers are relying on their children and grandchildren to help them decide where to settle down next. According to a recent Zonda survey,… [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]
Spring Housing Market Expected to Be Leanest and Most Competitive Ever
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]