Pending sales dipped during the week that began with the holiday, and other leading indicators show signs of slight cooling in the market.
Asking prices leveled off as pending sales–which were rising at this time in 2019–posted a 3% monthly decline. Homes still sold for record prices, at record speeds.
Home prices keep soaring as pending sales and new listings start a typical seasonal decline.
Homebuying demand may have peaked for 2021 as pending sales and mortgage purchase applications have both pulled back in recent weeks.
Homes in Portland, OR and Denver are also selling in a handful of days. In Austin, 74% sold above list price. Nationwide, almost half of homes sold above list price. These and several other record-breaking measures made April a historic month for housing. Note: Pandemic lockdowns significantly slowed homebuying and selling in April 2020, which
Home prices were up 22% from 2020, new listings fell slightly, and competition remained intense.