Despite a slowdown in the once-scorching housing market, homes are still selling at a faster rate and at higher prices than last year, according to new findings by the National Association of Realtors. via @USATODAY https://t.co/lQnmplL3yt
Inventory remains in tight supply, which means homes are still moving at a fast pace despite the recent rise in rates and home prices. The median days on the market is just 14 days. In comparison, in 2011, homes took 96 days to sell. https://t.co/9juhjFstPP
“Many buyers may have stepped back from the fiscal cliff but there is still substantial demand for homes. The Fall selling season may be a great time for buyers to find that bridge across the cliff!”” said CAR Spokesperson Chris Hardy
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“Potential buyers, who had been scared off by the rate spike, might find their way back to the housing market,” Yun said. via @Forbes https://t.co/AekxwZgpay
First-time buyers were responsible for 30% of sales in June; Individual investors purchased 16% of homes; All-cash sales accounted for 25% of transactions; Distressed sales represented less than 1% of sales; Properties typically remained on the market for 14 days. #NAREHS
"Given the extremely low inventory, we're unlikely to see price declines” in the coming months, said Lawrence Yun; he still expects home prices to rise, but he predicts that they’ll rise at a slower pace than they have over the past year or two. via @Money https://t.co/jSPOmdFT0g
“Some young adults have used the pandemic to their financial advantage by paying down debt and cutting the cost of rent by moving in with family. They are now jumping headfirst into homeownership,” - @JessicaLautz via @YahooFinance https://t.co/N9pT3GQ32w
Don't miss out on this two-part series next Tuesday where you'll work with mentor artist Kristina Maldonado BadHand to create a mural project in our neighborhood for everyone to see! Use the link below to register!
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#youtharts#activism
NAR Research compiles the latest residential and commercial market data in this weekly real estate monitor, based on what REALTORS® are seeing in their market, mortgage data, jobless claims, foot traffic, the latest home sales numbers, and more. https://t.co/I4JOtk0dz3
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