News and Features The Plot Thickens

Hot Housing Market Continues Through Winter, Says Report

Woman working at home
Written by Staff

Low interest rates and people upgrading to larger homes to accommodate a telecommuting lifestyle has created a heightened demand for homes that has driven prices higher.  Realtor.com reported last week that housing inventories around the nation declined by 39.6% since 2019, and stocks fell below 700,000 for the first time.  The same report noted that the demand pushed up the national median listing price in December to $340,000, which is 13.4% higher than 2019. And, even though large cities saw price increases of 8.8% compared to last year, the typical home spent 66 days on the market in December; this is 13 days less than the same time last year, and is partly because buyers still did so through the usually busy holiday season.

Read more:
https://www.realtor.com/research/december-2020-data/

About the author

Staff