Surge in New Listings Signals Potential Relief for Frustrated Shoppers
Home appreciation breaks new records as demand crush persists, but inventory crunch shows signs of relenting
- Driven by a seasonal rise in new listings, for-sale inventory fell only 1.1% month over month, a marked improvement after three consecutive months of drops around 8%.
- Home values rose 1.2% in March, the largest monthly jump in 25 years.
- Rent recovery picked up steam with the largest monthly rise since 2014.
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1 suggests the inventory crunch bedeviling home searchers may be starting to turn around as record appreciation of home values makes it more enticing to sell. Meanwhile, the recovery of rents is gaining broad momentum and touching double-digit annual gains in hot markets like Phoenix and Riverside.
Surge in New Listings Signals Potential Relief for Frustrated Shoppers
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Surge in New Listings Signals Potential Relief for Frustrated Shoppers
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Home Values Break New Growth Records as Demand Surge Presses On
Mortgage rates hit an all-time low of 2.63% in December, pushing buyers dollars further in competitive market
- Home values in December rose 3.2% over the previous quarter, the largest increase since at least 1996
- Newly pending sales were up 21.7% in December compared to a year ago
- Rents are ticking up from annual lows and remain slightly ahead of last year
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SEATTLE, Jan. 22, 2021 /PRNewswire/ Home value growth continued its meteoric rise in December as towering demand for homes carried on into winter, according to
Home Value Growth Breaks Records as Rents Stabilize
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