Expert Insights on the Budding Spring Housing Market

By
Real Estate Agent with Luxury Valley Homes Scottsdale SA524104000

Video on the Insights on the Budding Spring Housing Market - March 25, 2021

 

Experts agree the housing market is set to bloom this spring.

Single-family and Condo/Co-op Sales

Single-family home sales decreased to a seasonally-adjusted annual rate of 5.52 million in February, down 6.6% from 5.91 million in January, and up 8.0% from one year ago. The median existing single-family home price was $317,100 in February, up 16.2% from February 2020.

Existing condominium and co-op sales were recorded at a seasonally-adjusted annual rate of 700,000 units in February, down 6.7% from January and up 18.6% from one year ago. The median existing condo price was $280,500 in February, an increase of 12.3% from a year ago.

"This year, we've seen fair housing protections extended, recognized Realtors®' remarkable volunteerism, and are collaborating with policymakers to increase revitalization endeavors in numerous neighborhoods," said NAR President Charlie Oppler, a Realtor® from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby’s International Realty. "We have made an incredible amount of notable progress thus far in 2021, and NAR is committed and encouraged to continue those efforts."

Regionally

Existing-home sales in the West rose 4.6% from the month prior, recording an annual rate of 1,370,000 in February, a 12.3% jump from a year ago. The median price in the West was $493,300, up 20.6% from February 2020.

Let's connect to make sure you're ready to buy or sell this season.

Comments (1)

Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Sales are still active and eventually it will level off as there won't be anything left for people to buy

Mar 25, 2021 05:01 PM

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