This Week in Real Estate

July 1, 2021

Is the Real Estate Market Cooling Down?

The real estate market appears to be cooling down just a bit after a record breaking spring. Existing home sales declined just slightly in May, but buyers’ interest remains strong as mortgage applications rise again. Meanwhile, many are asking whether lumber pricing will remain high? We take a closer look This Week in Real Estate.

“The market’s outlook is encouraging. “Supply is expected to improve, which will give buyers more options and help tamp down record-high asking prices for existing homes.”
Lawrence Yun, National Association of Realtors, chief economist

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This Week in Real Estate

June 7, 2021

Half of All U.S. Homes Are Selling Above List Price in May!

The seller’s market continues as half of all U.S. homes sell above list price in May. Meanwhile, buyers continue to capitalize on mortgage rates below 3% as we see solid job gains in May. I take a closer look This Week in Real Estate.

“We are seeing some early signs that the market has reached its maximum temperature.”
Daryl Fairweather, Chief Economist, REDFIN

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This Week in Real Estate

April 19, 2021

Five U.S. Housing Records Were Shattered in March!

The time isn’t the only thing springing forward this spring! Housing production jumped over 19% in March despite rising lumber and material prices. Homebuilder confidence is also on the rise as builders face strong demand from potential buyers. Meanwhile, 5 U.S. housing records were shattered in March. I take a closer look at your top real estate news This Week in Real Estate.

“NAHB’s forecast is for ongoing growth in single-family construction in 2021, albeit at a lower growth rate than realized in 2020.”
NAHB Chief Economist Robert Dietz

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This Week in Real Estate

April 12, 2021

Single Family Property Taxes in U.S. Jump 5.4 Percent in 2020!

The COVID-19 pandemic continues to shaped the housing market as homeowners get hit with a large property tax increase and the number of loans in forbearance programs decline drastically. Here’s a look at what’s topping the news This Week in Real Estate.

“Homeowners across the United States in 2020 got hit with the largest average property tax hike in the last four years, a sign that the cost of running local governments and public school systems rose well past the rate of inflation. The increase was twice what it was in 2019.”
Todd Teta, chief product officer for ATTOM Data Solutions

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This Week in Real Estate

February 8, 2021

Home Prices Topple Expectations, Surging at the End of 2020!

Home prices finish out 2020 by surpassing expectations as low supply continues to drive the market. Meanwhile, the rush to take advantage of historically low interest rates causes mortgage applications to spike at the end of January. We take a closer look at the top real estate market news This Week in Real Estate.

“While home price growth is expected to slow during 2021, it will remain high in the first half of the year and average growth for this year is expected to climb to 6.9%.”
CoreLogic Home Price Index Report

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This Week in Real Estate

February 1, 2021

U.S. Home Seller Profits Soar in 2020 as Prices Set New Records!

U.S. home seller profits are soaring, we take a look at the 2020 gains. Plus, the Fed plots a stable path ahead for mortgage rates, but will they remain low? And, there’s been a significant shift in interest for newly-built homes, what the latest Housing Trend Report is saying. We take a closer look This Week in Real Estate.

“Last year marked a unique year in the history of home prices and profits in the United States. A once-in-a-century health crisis tore through much of the nation’s economy but seemed to have the opposite effect on the housing market.”
Todd Teta, chief product officer at ATTOM Data Solutions.

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This Week in Real Estate

January 24, 2021

Real Estate Market is Booming Despite Pandemic!

Existing home sales and new construction permitting and starts reach their highest level since 2006, far surpassing what analysts predicted. Meanwhile, mortgage rates continue to hover at near record lows, below 3%. We take a closer look This Week in Real Estate.

“Home sales rose in December, and for 2020 as a whole, we saw sales perform at their highest levels since 2006, despite the pandemic.”
said Lawrence Yun, chief economist National Association of Realtors

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This Week in Real Estate

January 17, 2021

Real Estate in 2021: Plenty of Reason for Optimism

Home sales are expected to rise by around 10% in 2021.
Home prices will also climb, but more moderate increases should help first-time buyers get into the market.
Mortgage rates will continue to be favorable, staying at near historic lows of 3% on average.

There is plenty of room for optimism in 2021 as the housing market is expected to continue its upward trend. We take a closer look at the year ahead This Week in Real Estate.

“During the pandemic, we learned that most people who work in offices could be just as productive at home, and this new reality will help fuel home sales in the post-pandemic economy.”
said Lawrence Yun, chief economist National Association of Realtors

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This Week in Real Estate

January 10, 2021

Mortgage rates drop even lower to new record of 2.65%

The average mortgage rate continues to fall! It fell to a record low sixteen times throughout 2020 according to Freddie Mac’s Primary Mortgage Market Survey. Then, the mortgage rate for a 30-year fixed loan fell two basis points to the lowest rate in the survey’s near 50-year history during the first week of the new year. This, as buyer demand for homes explodes and residential spending continues to lead construction spending. We take a closer look This Week in Real Estate.

“Even just a year ago, that didn’t seem probable, and it’s certainly not my baseline forecast, but we’d have to acknowledge that there is a chance rates could continue their secular decline.”
said Len Kiefer, Freddie Mac‘s deputy chief economist

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This Week in Real Estate

January 3, 2021

Real Estate Market’s Momentum Will Continue Into 2021, Expert Says

Despite a worldwide pandemic, the real estate market continues to see record numbers as all major regions are posting double-digit year-over-year increases, mortgage rates fall to record lows 16 times in 2020, and why the experts believe the momentum will continue in 2021. We take a closer look This Week in Real Estate.

“People who would not consider buying or selling a home several years ago are now beginning to be tempted to consider that, and that will filter in continuously through 2021.”
said Lawrence Yun, chief economist at the National Association of Realtors

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