Homeseller profits decreased in the first quarter, but remained elevated from last year, according to the latest report from ATTOM Data Solutions.
ATTOM released its first-quarter 2021 U.S. Home Sales Report, which shows that homeseller profits nationwide were again up on an annual basis in yet another sign of how the housing market is fending off economic damage caused by the COVID-19 pandemic.
The typical home sale in the first quarter generated a profit of $70,050, or 34.2 percent. That was down from $75,750, or 30.8 percent in the fourth quarter of 2020 but still up 26 percent from $55,750 in the first quarter of 2020.
Small dips in homeseller profits are common in the first quarter of the year as the homebuying season goes into its annual cold-weather lull.
Inman Connect
Home prices increased in the double digits for the third consecutive month in February, but some economists have begun to wonder: Is it sustainable?
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 12 percent annual gain in February, up from 11.2 percent in the previous month.
Home prices are not only increasing, but they are moving up at a faster rate than previous months.
“More than 30 years of S&P CoreLogic Case-Shiller data help us to put February’s results into historical context,” said Craig Lazzara, S&P DJI managing director and global head of index investment strategy. “The National Composite’s 12 percent gain is the highest recorded since February 2006, exactly 15 years ago, and lies comfortably in the top decile of historical performance. Housing’s strength is reflected across all 20 cities; February’s price gains in every city are above that city’s median level, and ra
Inman Connect
As evidenced throughout 2020, a vacation home by the water or in the mountains can be an invaluable resource especially during a pandemic. Undoubtably, a year of lockdown and travel restrictions has rearranged priorities around where and what kind of second home people want to buy, according to a new report from realtor.com.
While second home purchases rose 46 percent and comprised 6 percent of all mortgages from January to March of this year, a number of towns and cities have experienced a significant uptick in the number of people looking to buy second homes. By examining financed properties and excluding all-cash offers, this list looks away from affluent hotspots like Malibu and Greenwich and instead showcases smaller cities with a burgeoning vacation home market.
Inman Connect
As home prices surge and consumers recall the last time the housing market was this hot, it’s no wonder that fears of a housing crash have begun to surface.
The question, “When is the housing market going to crash?” spiked 2,450 percent on Google searches in the past month and “Why is the market so hot?” searches doubled in just a week, according to a new article from CNBC.
The article stated that the question “How much over asking price should I offer on a home 2021” jumped 350 percent in Google search during that same week, suggesting the market could be in a bubble.
Dallas-Fort Worth is seeing one of the nation’s biggest declines in homes for sale
More than 200,000 home listings are missing around the country, according to Realtor.com
On average it took less than 40 days to sell a D-FW area home.(Vernon Bryant / Staff Photographer)
You don’t have to tell homebuyers that there’s a shortage of houses for sale.
But a new report by Realtor.com shows just how tight it is in Dallas-Fort Worth’s home market.
D-FW had one of the largest percentage declines in the nation in homes listed for sale with real estate agents, according to a February study by Realtor.com