It’s almost the end of a year many of us would like to forget—unless, of course, we’re a mortgage banker. Here’s a summary of a plethora of reports that crossed the MBA NewsLink desk in the past few days:
Tag: Daryl Fairweather
Bidding Wars Strong for 7th Straight Month; Homes Selling at Fastest Pace in 8 Years
The national median home price rose 14% year over year to $335,519 in November, according to Redfin, Seattle. And in many housing market hotspots, bidding wars persist for more than half of home sales.
Redfin: 14.5 Million Americans Will Move Out of Town in 2021, Fueling 10% Sales Growth
It’s that time of the year, folks, when prognosticators dust off their crystal balls, consult the oracles and offer their predictions for the coming year. Redfin, Seattle, kicks things off with a bold prediction: after nearly a year of the devastating effects of the coronavirus, more people will relocate in 2021 than in the previous decade.
Housing Roundup Nov. 23, 2020
Here’s a quick hit on several recent housing and real estate finance reports.
Housing Market Roundup Nov. 16, 2020
Redfin, Seattle, said popular second-home destinations including the Jersey Shore, Cape Cod, Lake Tahoe, Palm Springs and Bend, Ore., are heating up and becoming full-time residences for homebuyers who have the luxury of working remotely.
Smaller Metros—and Fewer Disasters—On Home Buyers’ Radar Screens
The coronavirus has caused a sea change in Americans’ attitudes toward home. With millions now working from home—many permanently—they are rethinking everything: how to repurpose rooms; how many cars they need to own; and especially, where they want to live, not where they need to live.
Housing Market Roundup
In this edition of the MBA NewsLink Housing Market Roundup, we look at the latest FHFA Strategic Plan; how consumers are altering their home buying and home selling plans during the coronavirus pandemic; why housing affordability might be at a “tipping point;” how the coronavirus is driving down inventories; and how political preferences are having an effect on where people choose to live–or even stay in America.
Bidding Wars Intensify for Entry Level Homes
Redfin, Seattle, said bidding wars eased up slightly in September, but more than half of properties saw competitive bids. A separate report from Zillow, Seattle, showed the most intense competition was for entry level homes.
Affordable Areas Outside Big Cities Heating Up
Relatively inexpensive areas outside major cities, such as El Dorado County, just east of Sacramento, Calif., and Camden County, N.J., across the river from Philadelphia, are gaining ground with homebuyers as New York City and San Francisco lose steam, according to a report from Redfin, Seattle.
Monday Report: Red-Hot Housing Markets and a Time-Capsule Survey
This morning’s Monday Report features stories that confirm the housing markets remain hot, regardless of location or political preference; what that might mean for down payments; and a housing survey that, thanks to the coronavirus pandemic, was obsolete the moment it was released.