news
Market Report - October 2021

 

Market Report - October 2021


The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction single-family homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development.


New Listings were down 25.3 percent to 541. Pending Sales decreased 28.9 percent to 543. Inventory shrank 48.4 percent to 659 units.


Prices moved higher as Median Sales Price was up 15.2 percent to $455,000. Days on Market decreased 40.1 percent to 85 days. Months Supply of Inventory was down 54.5 percent to 1.0 months, indicating that demand increased relative to supply.


As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of REALTORS®. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates.

Here are some other articles you may find useful
2 MIN READ
Market Report - June 2020

  Market Report - June 2020 Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers. Whil

SHOW MORE
2 MIN READ
Market Report - April 2023

  Market Report - April 2023 U.S. existing-home sales declined 2.4 percent month-over-month as of last measure, according to the National Association of REALTORS® (NAR), reversing February’s sales gain of 14.5%. Fluctuations in mortgag

SHOW MORE
3 MIN READ
A Year In Review - 2022 Market Report

  A Year In Review - 2022 Market Report 2022 began where 2021 left off: Mortgage rates were near historic lows, buyer competition was fierce, and homes were selling at a breakneck pace, often with multiple bids and all-cash offers, due to pent-u

SHOW MORE
2 MIN READ
Market Report - June 2020

  Market Report - June 2020 Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers. Whil

SHOW MORE
2 MIN READ
Market Report - April 2023

  Market Report - April 2023 U.S. existing-home sales declined 2.4 percent month-over-month as of last measure, according to the National Association of REALTORS® (NAR), reversing February’s sales gain of 14.5%. Fluctuations in mortgag

SHOW MORE
Contact Me
Please complete this form and I will respond to you in confidence.
Code:
Send Message
* The phone number must be a valid phone number.
* The email must be a valid email.
Thank you for reaching out, we'll be in touch soon.