By the Numbers
Transactions that do go through are typically seeing multiple offers, NAR Chief Economist Lawrence Yun said.
A third consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index lends new evidence to claims that previous declines could be behind the market.
Demand for newly built homes has remained strong as high interest rates keep many would-be sellers of existing homes off the market.
At the same time, the median existing-home price for all housing types slid 3.1% year over year to $396,100.
The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row.
The year 2021 set a record-high for California to Texas moves, with approximately 110,900 people relocating from The Golden State.
A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year.
Lots of luxury homes have sold in the Lone Star State in the past month — the most expensive being a 16-bedroom mansion in the Crespi Estates subdivision in Dallas.
Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales.
A shortage of existing inventory continues to drive buyers to new construction.
Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.
Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market.
Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported.
Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported.
Curious about luxury listings in the Lone Star State? Here are the top 10 most expensive new listings added to the Multiple Listing Service in the past month.
High demand drove multiple offers on about a third of pending sales, while 28% of homes sold above list price, the National Association of REALTORS® reported.