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February 2021

Found 3 blog entries for February 2021.

Presidents Day weekend marks the unofficial start of the spring housing market, but if you’re looking to get in this year, hold onto your wallet. Bidding wars are off the charts, even as home prices are rising rapidly.

The primary reason longtime home searchers haven’t bought a house yet is because they keep getting outbid. About 40% of potential buyers cited that in a new survey by the National Association of Home Builders. The reasons are flipped from a year earlier, when 44% said unaffordable prices were the biggest reason they hadn’t bought yet, and 19% cited getting outbid.

Well over half of all buyers, 56%, faced bidding wars on their offers in January, according to a Redfin survey. That is up from 52% in December. More than half of homes are

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The Mortgage Bankers Association revealed that mortgage applications to purchase a home jumped 9% last week from the previous week and were 28% higher annually, 

Applications to refinance fell 5% for the week, but were 102% higher than a year ago.

Thanksgiving week isn’t usually a popular time for homebuying, but most economic numbers this year are incomparable, especially in the pandemic-spiked housing market.

Mortgage applications to purchase a home jumped 9% last week from the previous week, according to the Mortgage Bankers Association’s seasonally and holiday adjusted index. Purchase applications were a stunning 28% higher from a year ago.

 “Purchase activity continued to show impressive year-over-year gains, with both the conventional

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After a record-setting year of home sales in 2020, the housing market still shows no sign of cooling off.

U.S. housing gained about $2.5 trillion in value in 2020 — the most in a single year since 2005, according to a new Zillow analysis. The full stock of U.S. housing is now worth $36.2 trillion.

Strong demand drove intense competition among buyers, causing homes to fly off the market at the fastest pace Zillow has recorded and pushing prices higher. 

Housing demand was already strong coming into the year with the large Millennial generation aging into prime first-time home-buying age and mortgage rates hovering near record lows. The widespread shift to remote work during the COVID-19 pandemic prompted many buyers to re-evaluate their housing

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