Current Market Data
Inventory also reached its lowest point in the report’s history, down 31.8% from the same time last year and down 13.3% from October.
Strong underlying fundamentals shaped the housing market’s remarkable 2020 comeback story and, with a vaccine rollout underway, the stage is set for another strong year in 2021, says First American Chief Economist Mark Fleming.
More than half of Redfin listings (54%) experienced bidding wars in November, down only 4 percentage points from the previous month, according to the online broker’s new report.
An ongoing shortage of existing homes on the market has made newly constructed homes especially desirable.
The flight of homeowners from large urban centers to the suburbs has unexpectedly begun to reshape residential real estate, but luxury property in large cities have also gotten a boost from the hot market.
A new Redfin report shows condos are selling for a record 17% discount to single-family homes as the coronavirus fuels demand for space.
A new report from Homes.com shows that prospective homebuyers are still waiting to see if they will work from home permanently.
It takes Chicago homebuyers 5.65 years to meet the minimum threshold of 20%, or $69,800, to qualify for a mortgage.
There are 5.7 million “missing” households since the Great Recession, a fact likely to boost housing demand for at least the next several years.
Nationally, contract signings are up 20.2% compared to a year ago, but industry insiders say high prices are beginning to affect sales.