Realtor.com got 18K more new listings in Aug. 2021 than it did in Aug. 2020 – and more were affordable, entry-level homes. Realtor.com’s economist says it’s still a seller’s market, but a well-priced home might get 3 bids now compared to the 10 it would have received in 2020.
NAR President Oppler says Realtors have “long advocated for many of the policies,” though the promise of 100K homes “is just a small fraction” of the 6 million needed.
Rates continue to average less than 3% as signs show the economy – at least so far – appears to be outpacing the delta variant of COVID.
In many areas, homeownership not only offers long-term wealth but also immediate cost benefits. For some FHA 3.5%-down buyers, monthly payments actually go down.
Stay current with creditors tracked by credit score firms, but also do some homework: Understand credit scores and how they impact your life.
U.S. financial markets keep some New Yorkers in New York, and developers think a southern hub might give fence-sitting investors another reason to relocate.
Americans felt less confident in Aug. When the pandemic resurged, the confidence index fell to its lowest level since Feb – but it’s too soon to draw long-term conclusions.