The generation that supposedly didn’t want to buy things now accounts for over half of all home-purchase loan applications; economists expect them to bolster demand for years…read more….
Read more: https://dc.urbanturf.com/articles/blog/one-in-4-sellers-received-four-or-more-offers-us-home-sells-in-2021-by-the-/18787
Read more: https://www.bloomberg.com/news/articles/2021-07-20/u-s-housing-starts-top-forecasts-increase-to-three-month-high
By: Sougata Mukherjee
Editor-in-Chief, Triangle Business Journal
Just how many times have you read stories in recent months that talk about a hot
Well, to us, that's somewhat old news. How many times are we going to write pieces on
how the average price of new homes is going up and the sale price of existing homes is
going up even further?
Yes, we know we have a supply and demand imbalance. For markets that are
dramatically experiencing massive inbound population flows such as in Raleigh, Austin,
Texas, and Nashville, Tennessee, the number of listed homes is on the decrease and the
percentage of homes sold above the listing price is going up. Coupled with adamantly
low mortgage rates, there’s no reason to believe things will change in the short run.
But what is beginning to change should offer hope to everyone looking for an
opportunity to start a new business. Are you a good handyman? Are you an electrician?
Did you go through turf management program at a technical c ...
Read the rest of entry »
Read more: https://www.wsj.com/articles/u-s-existing-home-prices-hit-record-high-in-may-11624371222
Read more: https://www.bizjournals.com/philadelphia/news/2021/05/17/la-chinesca-little-sister-restaurants-spring-arts.html
By: Bridgetower News Service
The median home sale price increased 17% year over year to $330,250—an all-time
high—according to a new report from Redfin (redfin.com). This is the largest increase
on record in this data set, which goes back through 2016.
Below are other key housing market takeaways for more than 400 U.S. metro areas
during the 4-week period ending March 14.
Asking prices of newly listed homes hit a new all-time high of $350,972, up 10% from
the same time a year ago.
Pending home sales were up 21% year over year, the smallest increase since August.
New listings of homes for sale were down 17% from a year earlier.
Active listings (the number of homes listed for sale at any point during the period) fell
42% from 2020 to a new all-time low. This is the largest decrease on record in this data,
which goes back through 2016.
57% of homes that went under contract had an accepted offer within the first two weeks
on the market, well above the 46% rate during the same ...
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