Although pending sales are up 29% from last year, they are starting to slow down, dropping 9.7% from their peak four weeks ago.
With high costs slowing construction and potentially lowering homeownership for many, easing zoning rules may be the most effective way to increase the supply of new housing.
High-end home sales surged in the three months ended April 30 as prices also rose and listings increased.
The new corporate sponsorship makes certain training, resources and networking opportunities available to RE/MAX agents.
Special questions added to the National Association of Home Builders’ monthly builder survey found 90% or more of respondents had experienced shortages of plywood, oriented strand board, framing lumber and appliances, with most other materials also hard to come by.
The COVID pandemic has caused a shakeup in where, and how, many people work. That has helped propel a thriving housing market.
Of the 99 million residential properties in the U.S., approximately 1.4 million (or 1.4%) are vacant this quarter, with “zombie” home rates increasing both quarterly (21%) and annually (5.6%).
The number of Asian-headed households grew 83% in the past two decades, but economic inequality and inequity between different Asian ethnic regions is still an issue.
“Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices.” — MBA Associate Vice President of Economic and Industry Forecasting Joel Kan
First-time homebuyers found their long-term plans changed due to COVID.