Plummeting temperatures led to fewer area homeowners putting their houses on the market in February.
According to the latest local data from BHHS New England Properties, new listings in February in Hartford County fell nearly 33% compared to the same month of 2020. Listing volume was down by a similar percentage for the first two months of 2021.
Due to single-digit temperatures and snow, Gov. Ned Lamont had enacted the state’s severe cold weather protocol ‒ meant to help the state coordinate shelter for vulnerable populations ‒ several times since late January. The latest stretch was on March 1-2.
Connecticut’s housing market isn’t the only one experiencing the weather-related effects, according to Realtor.com’s monthly housing trends report released Thursday.
U.S. housing inventory has hit a historic new low, according to a monthly report released Friday by realtor.com.
The national inventory dropped by almost 40 percent year over year in December, falling below 700,000 active listings for the first time in realtor.com’s records, resulting in 449,000 fewer homes for sale than during December 2019.
New listings declined by 0.8 percent across the U.S. year over year, a vast improvement from a national inventory drop of 8.7 percent in November. In large metros areas, however, new listings increased by 7.6 percent.
Danielle Hale
“The shortage of homes for sale has been an ongoing issue for the last couple of years, but in December the combination of the holiday inventory slowdown and the pandemic buying trend caused it to dip to its lowest level in history,” realtor.com Chief Economist Danielle Hale said. “Looking forward, we could see new lows in the next couple of months as buyers remain relatively active, but a surge of new COV
Home prices shoot up as number of listings drops
FacebookTwitterEmail
Homes in the Houston metro were listed for a median price of $329,750, a 9.9 percent rise over Dec. 2019, according to realtor.com.Melissa Phillip, Houston Chronicle / Staff photographer
Strong demand and a slim supply of homes for sale on the market drove up asking prices across Texas and the U.S. in December, according to realtor.com.
“I’ve got more buyers than I have homes to sell them,” said Shad Bogany, a broker associate with Better Homes and Gardens Real Estate Gary Greene in Houston. “We just don’t have the inventory.”
December 17, 2020
Continue Reading
Housing economists, association heads, and investors all weighed in on what the housing market will look like in 2021 and many are expecting the housing craze to continue. Realtor.com Chief Economist Danielle Hale told Forbes that sales could increase by 7% and home prices could jump even higher than this year’s. There may be some relief with a slower pace of home price increases and more sellers getting comfortable listing their homes. Single-family home construction could advance by 9% next year as well. Read more to see what other real estate experts predict for 2021.
Robert Dietz, senior vice president and chief economist, National Association of Home Builders: With home builder confidence near record highs, we expect continued gains for single-family construction, albeit at a lower growth rate than in 2019. Some slowing of new home sales growth will occur due to the fact that a growing share of sales has come from homes that have no