Agents balance market demand, the values of homes in your neighborhood, where prices are headed, and your home’s condition to find the best price for your house. If you’re ready to sell,
The real estate market is still outperforming pre-pandemic levels.
Dated: March 22 2021
“Despite the drop in home sales for February – which I would attribute to historically-low inventory – the market is still outperforming pre-pandemic levels,” said Lawrence Yun, NAR’s chief economist.
First-time buyers were responsible for 31% of sales in February; Individual investors or second-home buyers purchased 17% of homes in February; All-cash sales accounted for 22% of transactions in February; Distressed sales represented less than 1% of sales in February.
The median existing-home price for all housing types in February was $313,000, up 15.8% from February 2020 ($270,400), as prices rose in every region. February’s national price jump marks 108 straight months of year-over-year gains.
Sales in total climbed year-over-year, up 9.1% from a year ago (5.70 million in February 2020). Find out what NAR experts are saying about the economy, and the housing market.
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