June 16, 2021
  • 7:06 am Conrad N Hilton Humanitarian Prize offers $1 million
  • 7:06 am ‘Inconspicuous consumption’ – charity shop research
  • 7:04 am Senior lawyer quits to set up HIV charity
  • 7:04 am Royal Consulting returns
  • 7:04 am TV presenter cleared of charity-plugs-for-cash allegations

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Many market analysts comparing year-over-year metrics are looking at data from both 2020 and 2019 because, at this time last year, pandemic stay-at-home restrictions thwarted homebuying and selling, which makes some comparisons unreliable.No matter what numbers you are considering, homes right now are selling at their fastest pace on record, with about half sold within a week after listing, according to the latest statistics from Redfin. Compared to 2020 the median home price increased 18% to $344,625, and asking prices reached $356,175, both all-time highs for those metrics, Redfin reported. Another record, of homes sold in the yearlong period ending April 18, 2021, 45% sold at over the asking price. They were on the market an average of 21 days, the briefest since 2012 and 16 days fewer than in 2020.Compared with 2019, pending home sales were up 23% from the same period. New listings of homes for sale were down 10% from the same period in 2019. Active listings dipped 47% from the same period to a new all-time low.“There has been an ongoing debate at Redfin about whether fear of coronavirus infection was keeping homeowners from selling. With a third of American adults now fully vaccinated and still hardly any homes being listed for sale, we’re close to settling that debate,” said Redfin Chief Economist Daryl Fairweather. “Homeowners are staying put because if they move and buy another home they will face a very competitive housing market as buyers, and they don’t need to sell to take advantage of record-low mortgage rates. They can just refinance their current home. On top of that, builders are struggling to construct new homes given an ongoing lumber shortage. Without more homeowners listing, buyers are scrambling to compete for the limited number of homes on the market, which continues to drive prices up to new heights.”The full housing market report from Redfin’s data team is available at Redfin.com. Share 2Save About Author: Christina Hughes Babb 2021-04-26 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago April 26, 2021 927 Views Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Home / Daily Dose / What is Preventing Homeowners from Selling?  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Previous: Shrinking the Racial Wealth Gap Depends on Housing Factors Next: AHP Servicing Appoints New President What is Preventing Homeowners from Selling? The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Related Articles Subscribelast_img read more

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