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.

Home Prices Rising Despite Coronavirus

Several reports this week suggest despite the crippling effect the coronavirus has had on the spring housing market, home prices continue to increase.

February New Home Sales Meet Expectations, Pre-Coronavirus

February new home sales dipped a bit, HUD and the Census Bureau reported yesterday. Sales of new single-family houses came in at a seasonally adjusted annual rate of 765,000, down by 4.4 percent from the revised January rate of 800,000, but 14.3 percent higher than a year ago (669,000).