Just the Facts: Four Key Housing Market Takeaways for This Week

• Home-buying demand is now 16.5% above pre-coronavirus levels on a seasonally-adjusted basis, driven by record-low mortgage rates
• Inventory of homes for sale can’t keep pace with demand. Jerry Diaz, a Redfin agent in Nashville says, “I’m showing a lot of houses, but not selling as many as I could because they’re gone before we can write an offer.” Forty-five percent of the homes under contract in the seven days ended May 15 were on the market less than two weeks
• The migration from expensive metropolitan areas to smaller cities

Spending weeks in lockdown has forced Melbourne to embrace the idea of living local.

And from built-in fast internet supporting workers at home, to in-house ballrooms, the city’s developments are embracing it, too.

Marshall White Projects director Leonard Teplin said high-rise buildings were now often designed as “self-sustaining ecosystems” where staying in was part of the lifestyle.

RELATED: Greenvale house with 18-hole mini golf course for sale

Assemble Kensington apartments: Buyers can ‘test drive’ new home

Balwyn