2021 Housing Market ‘Red Hot’

The past year has been like no other, housing-wise. Near-record-low interest rates, tight housing supplies and greater flexibility in where one lives have pushed a normally predictable housing cycle into uncharted territory, as three new housing reports show.

Housing Market Roundup, Jan. 4, 2021

We hope you had an enjoyable holiday break. Here is a summary of some reports that came out over the holidays:

Housing Market Roundup

It’s been a busy week here, with the Mortgage Bankers Association’s Annual Convention & Expo wrapping up. Here is a summary of some key housing market reports that took place over the past week. A major theme: tremendous housing market resiliency amid continued economic turmoil.

RE/MAX: ‘Blistering Hot” Housing Market Sets August Records

The RE/MAX August National Housing Report cited records for lowest inventory as well as highest median sales price. Home sales rose by 4.3% and marked the third-highest total in the report’s 13-year history covering 53 metro markets.

RE/MAX: June Home Sales Amid Strong Home Buyer Demand

Despite record low inventories, RE/MAX, Denver said June home sales posted a solid 37 percent gain as more states loosened stay-at-home mandates stemming from the coronavirus pandemic.

RE/MAX: Home Sales Fell in May Amid Pandemic

Despite a rosier report this week from HUD and the Census Bureau, which reported a 16.6 percent increase in May new home sales, the overall home market suffered a bit, according to RE/MAX, Denver, which reported “muted” home sales activity in May.