2021 housing market forecast: What will fuel home sales?

Housing Wire

We already saw much of this movement in 2020, as home sales surged over 20% this fall, but many homeowners were nervous about listing during the pandemic and will be ready to sell in droves next year. This will send home sales to highs not seen since before the Great Recession of 2008.

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Existing home sales are still too hot

Housing Wire

The National Association of Realtors reported that existing home sales for January were at 6,669,000, which beat estimates. The median sales price also jumped 14.1% We should all be jumping for joy as the bond market shows the American bears that America is back.

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Millennials are driving US home sales

Housing Wire

Existing home sales rose for the second consecutive month , as January saw a seasonally-adjusted annual rate of 6.69 Sales easily could have been even 20% higher if there had been more inventory and more choices,” Yun said. Yun predicts existing-home sales will reach at least 6.5

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New home sales juggernaut continues

Housing Wire

Sales of new homes rose to an annualized rate of 999,000 in October – 0.3% With October’s data in, new home sales have had the strongest three-month stretch since mid-2006, with each month falling just short of 1 million. months at the current sales rate.

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Even with high lumber prices, new home sales beat

Housing Wire

Extreme increases in lumber prices have caused some people to go bearish on new home sales. Mortgage rates have a much more significant influence on the new home sales market than lumber prices, even at their current highs.

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Pending home sales drop, but there’s a silver lining

Housing Wire

pending home sales dipped – this time, down 2.8% Despite the decline, many industry observers see big potential for the housing market in the year ahead. It’s no secret that low mortgage rates and societal shifts brought on by COVID-19 have collided to form a red-hot housing market. Pending home sales fell in January because there are simply not enough homes to match the demand on the market,” said Lawrence Yun, NAR chief economist.

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Why new home sales are finally moderating

Housing Wire

But, we hadn’t seen that moderation in any meaningful way until today’s new home sales data. The new home sales marketplace has been showing abnormally fast growth for the last several months. Exponential growth in any housing market data will eventually moderate.

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Experts optimistic about home sales in 2021

Housing Wire

pending home sales dipped to the tune of 0.3% Realtor.com’s Housing Market Recovery Index showed significant contract growth, specifically in Portland, Las Vegas, Denver, Los Angeles, and Boston. With rates remaining low, existing-homes sales are likely to reach 6.49

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Pending home sales continue to slip as 2021 approaches

Housing Wire

pending home sales slid for the third consecutive month in November, dropping 2.6% “It is important to keep in mind that the current sales and prices are far stronger than a year ago.” New home sales and existing home sales both also ticked down last month.

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The best new home sales report ever

Housing Wire

Only then would we see enough demand from the new home sales market to warrant that much construction. This hasn’t happened yet, but the recent hew home sales report indicates we are getting there. months at the current sales rate.” Now, new home sales are 41.5%

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Existing home sales surge 9.4% in September

Housing Wire

Sales of existing homes took off in September, jumping 9.4% Compared to a year ago, sales are up 20.9%. Unsold inventory measured as a “months supply” number that gauges how long it would take to sell all the homes if nothing else came on the market, was 2.7

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Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

housing market and compare those to where we are today — in the middle of one of the most epic years in our country’s history, due to COVID-19. No doubt about it, the COVID crisis has taken some juice out of the 2020 housing market. million total home sales by the end of the year.

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Don’t expect home sales to slow down in 2021

Housing Wire

From facing uncertainty in March from COVID-19-related shutdowns, to seeing home sales skyrocket through the summer into fall, it looks like homebuyers won’t be slowing down anytime soon, despite the holiday season approaching. Real estate agents across the U.S.

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Keller Williams hails 16% jump in sales volume

Housing Wire

million home sales in the U.S. Keller Williams also claimed $407 billion in 2020 sales volume in Canada and the U.S., But Keller stated that “96 percent of our market centers across the U.S. onset in March only to surge to its highest sale volume since the mid-2000s.

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Insatiable demand drives July pending home sales up 15% annually

Housing Wire

pending home sales rose 5.9% We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market,” said Yun. All four regions of the country also saw month-over-month and year-over-year gains in pending home sales.

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Condo sales rebound as buyers snatch up deals

Housing Wire

A new report from Redfin revealed that condo sales rose 22.7% Single-family home sales grew 23.3% Condos sales are rebounding because buyers are finding great deals,” said Redfin’s Chief Economist Daryl Fairweather. year over year, while condo sale prices rose 9.9%.

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Rising home prices take a toll on pending home sales

Housing Wire

pending home sales fell 1.1% in October – the second consecutive month the index has fallen as affordability strains the market, a recent report from the National Association of Realtors said. Year over year, pending sales are showing promise in every region of the U.S,

Sales 281

Existing home sales end five-month streak increase in November

Housing Wire

Existing home sales decreased 2.5% Compared to last November, home sales are still up 25.8%. Home sales in November took a marginal step back, but sales for all of 2020 are already on pace to surpass last year’s levels,” said Lawrence Yun, NAR’s chief economist.

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Beware of gloom and doom housing market crash headlines

Housing Wire

I’m talking about housing market crash headlines. These dramatic peaks and valleys in the data have fed the demons of greed and fear that infest the minds our extreme housing bulls and the fierce housing market bears – leading to equally wild speculations about the future of U.S.

New home sales begin to cool in November

Housing Wire

Sales of newly built homes occurred at a seasonally-adjusted annual rate of 841,000 in November – 11% below October’s 945,000 revised rate , the Census Bureau reported on Wednesday. “Prior to the data revision, the month’s supply of homes for sale at the current pace was only 3.3,

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New home sales hot but not bubbly

Housing Wire

The recent new home sales data is at levels last seen in 2006, with monthly supply data back down to the low levels when new home sales data was really good. No, this is not a new home sales housing bubble as we are far from total new home sales being where they were in 2005.

Sales 279

Existing home sales are still too hot

Housing Wire

In recent articles, I have written that although current sales data for the U.S. housing market has outperformed expectations, I expected these upward trends to moderate. decline in existing home sales compared to last month, which I guess could be considered moderation.

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Sales of existing homes surge to a 14-year high

Housing Wire

Sales of existing homes rose to a 14-year high of 6 million in August, the National Association of Realtors said in a report on Tuesday. Combined sales of single-family houses, townhomes, condominiums and cooperatively owned apartments rose 2.4%

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Existing home sales increase for the fifth month in a row

Housing Wire

Existing home sales grew for the fifth consecutive month in October, up 4.3% Compared to last October, sales are up 26.6%. “The surge in sales in recent months has now offset the spring market losses,” NAR Chief Economist Lawrence Yun said.

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Sales of higher-priced properties drive California median home price to new high in July

Housing Wire

For the first time since February, July’s existing single-family home sales totaled 437,890 in July, up 28.8% Homes prices below $500,000 made up 40% of all sales in July, while sales of million-dollar properties were 20.4% of the market.

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2021 housing market outlook: No signs of slowing

Housing Wire

2020 has been a remarkably strong year for the housing market. Sales volume has remained elevated compared to last year since about mid-June, home values are growing more quickly than they have in 15 years and homes are typically selling a full three weeks faster than a year ago.

2020 home sales hit highest level since 2006

Housing Wire

Existing home sales rose in December, and total home sales in 2020 reached the highest level in 13 years, according to the National Association of Realtors. Sales also rose 0.7% Experts project low mortgage rates to continue driving home sales in 2021.

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Knock launches new sale-leaseback solution, Knock Nest

Housing Wire

Real estate technology company Knock has announced the launch of Knock Nest, a standalone sale-leaseback solution that allows homeowners to access the cash they’ve built up in their home while continuing to live in it. Now, the solution is available in 14 markets in the U.S.,

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The housing market is hot, but not in a bubble

Housing Wire

Existing home sales came in at a whopping 6,850,000 , beating estimates with the highest print since 2006. Days on market fell from 36 days to 21 days on a year-over-year basis. Cash buyers remain at a historically high level of 19%, the same as last year, while sales grew 26.6%

Pending home sales at an all-time high! Now what?

Housing Wire

Riddle me this: How can home sales grow when we have no homes to buy? When a monthly home sales print fails to meet expectations the excuse often used is that inventory is too low to meet the demand. We are steadily working our way toward a positive year for existing home sales.

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Are existing home sales showing a housing bubble?

Housing Wire

Today, existing home sales blew out estimates , coming in at 5,860,000. With new home sales, pending home sales, housing starts, housing permits, and purchase applications already in v-shape recovery mode, this last metric completes the v-shaped recovery across the board for housing.

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COVID couldn’t stop the U.S. housing market in 2020

Housing Wire

Today the National Association of Realtors reported existing home sales for the month of December were at 6,760,000, a beat of estimates. This also closed the books on 2020’s housing market as we finished out the year at 5,640,000 total existing-home sales — a 5.6%

U.S. home sales and median price soar to a record in July

Housing Wire

Existing-home sales jumped 25% in July from June, beating the prior record of a 21% gain set a month earlier , as low mortgage rates fueled demand for real estate. Sales of single-family homes, townhomes, condominiums, and co-ops rose to a seasonally adjusted 5.86

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Luxury home sales rise 41.5%, making biggest jump since 2013

Housing Wire

In the largest increase since 2013, luxury home sales rose 41.5% While sales in this segment of the housing market have skyrocketed, the sales of medium-priced homes went up only 3% and sales of affordable homes actually declined by 4.2%. Riverside sales are up 62.8%

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Sales Boomerang’s automatic borrower intelligence system works to boost its clients’ customer retention

Housing Wire

Sales Boomerang solve this problem by helping banks, credit unions and independent mortgage lenders build lasting, profitable relationships with their borrowers. Lenders need to figure out now how they will retain borrowers in this increasingly competitive market.

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