Current Market Data
As the economy slowly recovers from the early days of the pandemic, the share of loans in forbearance dropped for the seventh consecutive week, signifying a 40-basis-point decrease in the last two weeks.
Rent rates nationwide have been decreasing since the onset of the pandemic, but new data shows that in some cities, this could be changing in the near future.
With the lowest level of inventory in nearly 40 years, the 2021 spring market has homebuyers facing a level of competition not seen in a generation.
Privately owned housing starts jumped 19.4% from February’s revised estimate to a seasonally adjusted annual rate of 1,739,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development
“All the converging trends, including domestic migration from high-tax states, a brutal winter around the nation and historically low interest rates, are resulting in an unprecedented high-end market.”—Mike Pappas, Keyes and Illustrated Properties President and CEO
“Staging a home helps consumers see the full potential of a given space or property. It features the home in its best light and helps would-be buyers envision its various possibilities.” — Jessica Lautz, NAR vice president of demographics and behavioral insights
Forty-three percent of respondents to the first-quarter Zillow Home Price Expectations survey expect inventory to improve in the second half of the year, followed by 26% who expect it in the first half of 2022.
The housing supply shortage is expected to get more extreme as homebuyer demand continues to outweigh inventory levels, a new study found.
“The whole region has had a surge in demand, including Pasco, Pinellas, and Hillsborough County, where Tampa is located.”—Jennifer Motsinger, Executive VP, Tampa Bay Builders Association
Rising wages and falling mortgage rates are helping keep homeownership within reach of average wage earners nationwide despite surges in housing prices.