Day: August 15, 2020

Home Prices Up 8% as Supply Fell 22% to a New All-Time Low in July

New listings surpassed 2019 levels for the first time since the pandemic began, up 3%, but failed to keep up with the rate of sales, up 5% year over year.

The national median home price rose 8.2% year over year to $323,800 in July. This is the third time in four months that prices have hit a new all-time high, as low mortgage rates continued to drive a spike in early homebuyer demand that has not been met with a matching surge in homes for sale.

“The housing market is intense right now,” said Albuquerque Redfin agent Jimmy Martinez.

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Townsville property market at ‘start of recovery’

A new report suggests the Townsville property market has begun its recovery after several negative years, noting the city’s “resilience” during the COVID-19 crisis.

The Herron Todd White Month in Review Report for August has both the Townsville house and unit markets at the “start of recovery”.

“The resilience of the Townsville residential market post COVID-19 continues to astound us with increasing sentiment and a noticeable increase in vacant land sales and new home construction following the $25,000 Homebuilder grant,” the report said.

“The investor market for house flippers continues to see good activity, particularly in established suburbs such as

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