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Realtor.com 2021 Forecast
It is that time of the year for prognosticating what will happen in 2021. Here’s a summary of Realtor.com’s take. “We expect housing’s winning streak to continue in 2021 as seasonal trends normalize and some of the frenzied momentum fades thanks to fresh affordability challenges. Below you’ll find our forecast and housing market predictions on key…
Read More8.9 Million People Relocated Since the Beginning of the Pandemic
This is a Reprint Fro Realtor.com December 4, 2020 By: Nadia Evangelou 2020 will go down in history for a pandemic that changed the world. No one would ever have imagined last year that we would stay home for social distancing in order to help save lives. Specifically, one in three adults substituted some or all…
Read MoreNovember 17 Chicagoland Market metrics buck trends with uptick
Several key metrics in MRED’s marketplace ended weeks-long streaks of declines in 2020 during the second week of November. New listings saw a 4% week-over-week increase, but also topped 2019’s totals from the same period by 21%. Other indicators that bounced back after recent declines included listings under contract (14% week-over-week increase) and closed listings (3% week-over-week…
Read MoreMLS Inventory reached five month low
The total number of active and temporary listings in MRED’s database reached its lowest point since mid-June during the past week. This mark was the culmination of the fourth straight week of declines in connectMLS inventory as the market appears to be entering its annual cool down. Other indications of this included a 29% week-over-week…
Read MoreExisting-home sales soared in September — 7 in 10 homes sold in less than a month
This is a reprint from Market Watch Published: Oct. 23, 2020 at 8:59 a.m. ET By Jacob Passy As the pandemic continues, the risk of a prolonged economic downturn could cause some buyers to rethink making a big purchase, especially given rising home prices Despite the pandemic, existing-home sales increased for the fourth consecutive month…
Read MoreNew Home Sales Dip Slightly in September, but Remain Strong Going Into Fall
This is a reprint from Realtor.com By Jacob Passy | Oct 26, 2020 George Frey/Bloomberg via Getty Images The numbers: Sales of new single-family homes fell in September, but the housing market remains poised to buck seasonal trends nonetheless. New home sales occurred at a seasonally-adjusted, annual rate of 959,000, the U.S. Census Bureau reported Monday. That represents a 3.5%…
Read MoreHomeowners gain over $620 billion in equity in second quarter
You may have equity in your home & don’t know it. Read the article below. If you want to tap your equity, call us. Nation stays afloat as negative equity “underwater” drops 15% year-over-year September 21, 2020, 3:24 pm By Alex Roha U.S. homeowners with mortgages witnessed a 6.6% year-over-year increase in their equity in the second…
Read MoreChicago Sales Data Through August 2020
Crystal Smith & Eugene Beckles 2020 has been a good year for Residential Real Estate in the Chicagoland market. We’ve recovered from the drops seen at the beginning of the Pandemic. Average Days on the market, while we wish it could be less, it isn’t too bad & most homes are selling within 95% of…
Read MoreSales prices outpacing 2019 numbers as demand remains high
The median sales price of a residential listing in MRED’s network remained at $260,000 for the third consecutive week. This is a 16% year-over-year increase that bucks a trend from 2019 in which median sales prices began to decrease in August and September. This year’s steadiness is despite a third-straight week of declines in residential listings under contract, although 2020’s numbers have…
Read MoreExisting Home Sales Jump 20.7% in June
This is a Reprint From National Association of Realtors Existing-Home Sales Climb Record 20.7% in June July 22, 2020 Media Contact: WASHINGTON (July 22, 2020) – Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic, according…
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