If you’re one of the many homebuyers having trouble finding a house these days — at least one in your price range — there just may be a light at the end of the tunnel.
According to a new survey of over 100 economists, there should be a boost in housing supply not too far down the road.
When exactly? The majority of those surveyed said inventory growth should return to normal by the second half of this year. Another quarter said early next year.
Either way, it should be a boon to buyers, offering a break from the countless bidding wars and ever-rising prices seen in the last few months. In fact, according to the survey, most economists think home price growth will slow to just 4.5% this year. (Prices are currently up more than 10%
Home prices in the Seattle area have gone up significantly over the past year during the coronavirus pandemic.
Low inventory and high buyer demand has lead to competition over the few homes on the market, driving the already expensive home prices in the area even higher.
According to a new study from PropertyShark, Seattle homes that were sold in 2009 were resold in 2019 at a more than 50% higher median price. Seattle ranked ninth among cities with the highest home price gains over the course of the decade, according to the study.
"Bookended by the 2008 crash and COVID-19, the decade between 2009 and 2019 was a transformative one for the real estate industry," the report said. "Curious to see how the housing market had fared between the two most
As the economy reopens, vaccinations continue to roll out and stimulus checks reach bank accounts across America, home sellers are increasingly optimistic.
And despite fierce bidding wars, competition from institutional investors and sore wrists from writing dozens of heartfelt letters to home sellers, even buyers are growing in courage these days.
Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumer confidence to sell or buy a home, increased in March by 5.2 points to 81.7.
Four of the HPSI’s six components increased month over month, including the components related to home buying and home selling conditions, household income, and home prices. The mortgage rate outlook component
Home prices are sky-high, and a recent report from Redfin underlines that point with some staggering data.
Median home-sale prices increased 17% year-over-year to $335,613 – a record high, per data taken from more than 400 metro areas during the four-week period ending March 28, 2021. And asking prices of newly listed homes rose 14% year-over-year to $353,500, another all-time high.
Pending home sales were up 38% from the same period in 2020 — and up 28% from the same period 2019 — but pending sales grew just 0.9% from Redfin’s previous four-week report.
Sales in general are still high, per Redfin Chief Economist Daryl Fairweather — 59% of homes that went under contract in the current four-week period had an accepted offer within the first two
