The extreme pandemic-driven seller’s market is intensifying and will likely last through the first half of the year.
Last week saw a surge in homebuying demand as homes sold faster than ever.
Housing Market Update: Homebuyers Undeterred by Declining Listings—Pending Sales up 32%, New Listings Down 10%
New listings of homes for sale fell 10%, the largest decline since last June.
Housing Market Update: First New-Listings Decline in 5 Months Portends a 2021 Housing Frenzy to Rival 2020
Housing Market Update: New Listings Fell 3%, Home Prices Up 14%, Pending Sales Rise 35%
Nearly two thirds (63%) of people who bought a home last year made an offer on a property that they hadn’t seen in person.
The national median home price rose 13% year over year to $334,300 in December, while homebuying demand barely slowed.