Day: June 6, 2020

Home-Buying Demand Up 22% After Seven Straight Weeks of Increases

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
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