Friday, November 19, 2021 / by Crescent Louise
Real Estate Market Indicators for October 2021
The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single family rent prices are increasing rapidly, as demand for single family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation.
Strong demand, low interest rates and a slight uptick in new listings in recent months, according to the National Association of REALTORS®(NAR).
Meanwhile, sales of new construction singlefamily homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development (HUD).
NEW LISTINGS
New Listings decreased 26.8% for single family homes and 31% for townhouse/condo homes. Pending sales decreased 41.6% for single family homes and 50.6% for townhouse/condo homes. Inventory decreased 33.2% for single family homes and 40.1% for townhouse/condo homes.
MEDIAN SALES PRICE
Median sales price increased 11.1% to $916,500 for single family homes and 13.1% to $586,825 for townhouse/condo homes. Days on market decreased 29.6% for single family homes and 37.9% for townhouse/condo homes. Months supply of inventory decreased 38.1% for single family homes and 47.8% for townhouse/condo homes.
As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates and a slight uptick in new listings in recent months, according to the National Association of REALTORS®(NAR). With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates.
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[This report was provided by the Pacific Association of REALTORS® (PWR)]
Strong demand, low interest rates and a slight uptick in new listings in recent months, according to the National Association of REALTORS®(NAR).
Meanwhile, sales of new construction singlefamily homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development (HUD).
NEW LISTINGS
New Listings decreased 26.8% for single family homes and 31% for townhouse/condo homes. Pending sales decreased 41.6% for single family homes and 50.6% for townhouse/condo homes. Inventory decreased 33.2% for single family homes and 40.1% for townhouse/condo homes.MEDIAN SALES PRICE
Median sales price increased 11.1% to $916,500 for single family homes and 13.1% to $586,825 for townhouse/condo homes. Days on market decreased 29.6% for single family homes and 37.9% for townhouse/condo homes. Months supply of inventory decreased 38.1% for single family homes and 47.8% for townhouse/condo homes.As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates and a slight uptick in new listings in recent months, according to the National Association of REALTORS®(NAR). With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates.
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[This report was provided by the Pacific Association of REALTORS® (PWR)]
