Just the Facts: Four Key Housing Market Takeaways for This Week
- Home-buying demand is up 22% from pre-pandemic levels after seven straight weeks of gains.
- Sellers are slowly returning, but new inventory can’t keep pace with demand and the number of homes for sale is down 24% compared to the prior year.
- Mortgage rates near 3% and inventory shortages drove prices up 7% and have increased competition for homes. Noah Goldberg, a Redfin agent in New Jersey said, “I was working with a buyer to purchase a home for over a million dollars that had been on the market more