news
Market Report - October 2021
Share page

 

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 - February 2024

  Market Report - February 2024 U.S. existing-home sales grew 3.1% month-over-month to a seasonally adjusted annual rate of 4.00 million, exceeding economists’ expectations and marking the strongest sales pace since August 2023, according

SHOW MORE
3 MIN READ
A Year In Review - 2023 Market Report

  A Year In Review - 2023 Market Report 2023 was a challenging year for the U.S. housing market: mortgage rates hit a 2-decade high, housing inventory remained at historic lows, and sales prices continued to climb nationwide, putting homeownersh

SHOW MORE
2 MIN READ
Market Report - June 2024

  Market Report - June 2024 U.S. existing-home sales declined for the third consecutive month, as higher mortgage rates and rising sales prices hindered market activity during what has traditionally been one of the busiest months of the year. Ac

SHOW MORE
2 MIN READ
Market Report - February 2024

  Market Report - February 2024 U.S. existing-home sales grew 3.1% month-over-month to a seasonally adjusted annual rate of 4.00 million, exceeding economists’ expectations and marking the strongest sales pace since August 2023, according

SHOW MORE
3 MIN READ
A Year In Review - 2023 Market Report

  A Year In Review - 2023 Market Report 2023 was a challenging year for the U.S. housing market: mortgage rates hit a 2-decade high, housing inventory remained at historic lows, and sales prices continued to climb nationwide, putting homeownersh

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.