Let's Connect!
JACQUELYN DUKE, REALTOR®
  • Home
  • About
    • Meet the Team
    • Testimonials
  • Sellers
    • Staging That Sells
    • Photography That Sells
    • Video That Sells
  • Buyers
    • Property Search
    • Featured Listings
    • Let Us Find What You Are Looking For
    • Get Pre-Qualified!
  • Renters
  • Resources
    • About Central Iowa
    • Utilities Information
    • Local Vendors & Contractors
    • Real Estate News
  • Blog
  • Contact
  • Privacy Policy
  • Home
  • About
    • Meet the Team
    • Testimonials
  • Sellers
    • Staging That Sells
    • Photography That Sells
    • Video That Sells
  • Buyers
    • Property Search
    • Featured Listings
    • Let Us Find What You Are Looking For
    • Get Pre-Qualified!
  • Renters
  • Resources
    • About Central Iowa
    • Utilities Information
    • Local Vendors & Contractors
    • Real Estate News
  • Blog
  • Contact
  • Privacy Policy

buying and selling doesn't have to be hard.

Will the Housing Market Maintain Its Momentum?

5/14/2021

0 Comments

 
Picture
Will the Housing Market Maintain Its Momentum?

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.
Lawrence Yun, Chief Economist at NAR, explains in the report:
"The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising."
Yun’s insight was supported the next day when the Census Bureau released its Monthly New Residential Sales Report. It shows that newly constructed home sales are up 20.7% over the previous month.
Buyer demand remains strong. With more of the adult population becoming vaccinated and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months.
What will this mean for home sales going forward?Fannie Mae, Freddie Mac, and the Mortgage Bankers Association (MBA) have all forecasted that total home sales (existing homes and new construction) will continue their momentum both this year and next. Here’s a graph showing those projections:
Bottom LineLiving through a pandemic has caused many to re-evaluate the importance of a home and the value of homeownership. The residential real estate market will benefit from both as we move forward.
0 Comments



Leave a Reply.

    RSS Feed

    View my profile on LinkedIn

    Picture
    Picture
    Picture

    Let's Connect

    With the correct person by your side, the buying and selling process doesn't have to be full of stress, doubt and anxiety - it can actually be FUN! Contact Jacquelyn Duke today to learn more.

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    September 2018
    April 2018
    March 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    July 2017
    March 2017
    December 2016

    Categories

    All
    Featured Listings For Sale

    Jacquelyn Duke, Realtor®
    Licensed to Sell in the State of Iowa


    Jacquelyn@SellingCentralIowa.com
    (515) 240-7483
    ​

    Re/Max Concepts
    1360 SW Park Square Dr Ste 106
    Ankeny, IA 50023

    ​Disclaimer: The material on this site is solely for informational purposes. No warranties or representations have been made.
    Picture
Proudly powered by Weebly