Housing Market

Forecast Calls For Uneven Housing Recovery

Posted on by TMN Editor
As state and communities take early steps to reopen their economies, realtor.com predicted Wednesday that home sales in the United States will rebound in the late summer and early fall before experiencing a downturn late in the year. Overall, the forecast predicts home sales will be down 15 percent from 2019. “The U.S. housing market started 2020 with substantial momentum,” realtor.com Chief Economist Danielle Hale said. “With some of the best home sales and housing starts in more than a decade, our biggest challenge going into the spring home-buying season was a lack of for sale homes. The coronavirus pandemic has kept both buyers and sellers on the sidelines, preserving market balance, for now.” Hale expects home sales will resemble…

Number Of Houses Being Listed Tumbles

Posted on by TMN Editor
The number of new houses going on the market is plummeting as the coronavirus pandemic wears on, according to an analysis released Monday by Redfin. The analysis found that there were fewer homes for sale in March than at any time since January 2012, when Redfin started tracking the data. New listings in March dropped 10.8 percent compared to March 2019. “Real estate activities nearly ground to a halt in some parts of the country by the end of March, disrupted by shelter in place laws,” Redfin lead economist Taylor Marr said. “Right now, sellers need to decide if they’ll list their home for sale among all the economic uncertainty.”  Redfin also found: By the last week of March, new…