Report: Real Estate Records Set in Coronavirus Era: High Prices, Quick Sales, One Third of Americans Moved "Redfin Chief Economist Daryl Fairweather said in a statement: "Prices were much higher than they were pre-pandemic in almost every part of the country. Home supply dropped to its lowest level in history. The typical home sold in just 15 days, the lowest median days on market in history. The speed of the market is due partly to the supply problem, which has led buyers to pounce on homes as soon as they are put on the market. Sometimes sight unseen. More than half of homes sold above list price. Homes selling above list price is mostly because of bidding wars, which were commonplace this year." "Nearly one-third of Americans looked to move to a different metro area." Real estate in Heaven is still available and affordable! TR
The ongoing pandemic, including its seismic effect on the U.S. economy and the way Americans live and work, has made 2021’s housing market anything but typical. Remote work, low mortgage rates, a shortage of building materials, and wealth inequality that has allowed an influx of affluent Americans to buy vacation homes, to name just a few factors, have come together to create a historic year for real estate." "Buyers paid more for homes, bought sooner than they planned, searched outside their hometowns or all of the above."
