This Week in Real Estate

February 8, 2021

Home Prices Topple Expectations, Surging at the End of 2020!

Home prices finish out 2020 by surpassing expectations as low supply continues to drive the market. Meanwhile, the rush to take advantage of historically low interest rates causes mortgage applications to spike at the end of January. We take a closer look at the top real estate market news This Week in Real Estate.

“While home price growth is expected to slow during 2021, it will remain high in the first half of the year and average growth for this year is expected to climb to 6.9%.”

CoreLogic Home Price Index Report

This Week in Real Estate

February 1, 2021

U.S. Home Seller Profits Soar in 2020 as Prices Set New Records!

U.S. home seller profits are soaring, we take a look at the 2020 gains. Plus, the Fed plots a stable path ahead for mortgage rates, but will they remain low? And, there’s been a significant shift in interest for newly-built homes, what the latest Housing Trend Report is saying. We take a closer look This Week in Real Estate.

“Last year marked a unique year in the history of home prices and profits in the United States. A once-in-a-century health crisis tore through much of the nation’s economy but seemed to have the opposite effect on the housing market.”

Todd Teta, chief product officer at ATTOM Data Solutions.

This Week in Real Estate

January 24, 2021

Real Estate Market is Booming Despite Pandemic!

Existing home sales and new construction permitting and starts reach their highest level since 2006, far surpassing what analysts predicted. Meanwhile, mortgage rates continue to hover at near record lows, below 3%. We take a closer look This Week in Real Estate.

“Home sales rose in December, and for 2020 as a whole, we saw sales perform at their highest levels since 2006, despite the pandemic.” 

said Lawrence Yun, chief economist National Association of Realtors

This Week in Real Estate

January 17, 2021

Real Estate in 2021: Plenty of Reason for Optimism

  • Home sales are expected to rise by around 10% in 2021.
  • Home prices will also climb, but more moderate increases should help first-time buyers get into the market.
  • Mortgage rates will continue to be favorable, staying at near historic lows of 3% on average.

There is plenty of room for optimism in 2021 as the housing market is expected to continue its upward trend. We take a closer look at the year ahead This Week in Real Estate.

“During the pandemic, we learned that most people who work in offices could be just as productive at home, and this new reality will help fuel home sales in the post-pandemic economy.”

said Lawrence Yun, chief economist National Association of Realtors

This Week in Real Estate

January 10, 2021

Mortgage rates drop even lower to new record of 2.65%

The average mortgage rate continues to fall! It fell to a record low sixteen times throughout 2020 according to Freddie Mac’s Primary Mortgage Market Survey. Then, the mortgage rate for a 30-year fixed loan fell two basis points to the lowest rate in the survey’s near 50-year history during the first week of the new year. This, as buyer demand for homes explodes and residential spending continues to lead construction spending. We take a closer look This Week in Real Estate.

“Even just a year ago, that didn’t seem probable, and it’s certainly not my baseline forecast, but we’d have to acknowledge that there is a chance rates could continue their secular decline.”

said Len Kiefer, Freddie Mac‘s deputy chief economist

This Week in Real Estate

January 3, 2021

Real Estate Market’s Momentum Will Continue Into 2021, Expert Says

Despite a worldwide pandemic, the real estate market continues to see record numbers as all major regions are posting double-digit year-over-year increases, mortgage rates fall to record lows 16 times in 2020, and why the experts believe the momentum will continue in 2021. We take a closer look This Week in Real Estate.  

“People who would not consider buying or selling a home several years ago are now beginning to be tempted to consider that, and that will filter in continuously through 2021.”

said Lawrence Yun, chief economist at the National Association of Realtors

This Week in Real Estate

December 13, 2020

U.S. Homeowners Gained $1 Trillion of Equity in Q3!

U.S. homeowners see major home equity gains in Q3 of 2020 as home price growth continues to set records and mortgage rates hit 14th RECORD LOW of the year. We take a closer look This Week in Real Estate.

“The housing market has remained a strong pillar in an otherwise tumultuous economic year. A sharp rise in demand, spurred by record-low interest rates, continues to bolster homeowner equity. And with many people now spending more time than ever before at home, some homeowners have tapped into their strengthening equity to fund renovations.”

said Frank Martell, president and CEO of CoreLogic.

This Week in Real Estate

November 9, 2020

U.S. Home Price Appreciation Hits 6-Year High in September!

U.S home price appreciation hits 6-year high, home equity levels continue to rise nationwide and purchase and refinancing continue to show year-over-year gains! We take a closer look at stories impacting the real estate market This Week in Real Estate.

“Those in sectors that weathered the transition to remote work successfully are now able to take advantage of low mortgage rates to purchase a home for the first time or to trade-up to a larger home,”

said Frank Martell, president and CEO of CoreLogic.

This Week in Real Estate

November 2, 2020

Pending Home Sales Fall Back After 4-Month Winning Streak!

Pending home sales faltered a bit in September, while new home sales decline in September for the first time since April, but homeownership is growing, especially among younger age groups. We take a closer look This Week in Real Estate.

“The demand for home buying remains super strong, even with a slight monthly pullback in September, and we’re still likely to end the year with more homes sold overall in 2020 than in 2019,”

said Lawrence Yun, NAR’s chief economist.

This Week in Real Estate

October 25, 2020

Existing home sales surge 9.4% in September!

Existing home sales surge in September, major metropolitan areas see huge double digit home price gains in Q3 and single-family housing starts reach highest level since 2007. We take a closer look This Week in Real Estate.

“Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season,”

said Lawrence Yun, NAR’s chief economist.