During the second quarter of 2021, as extreme demand continued to crush the housing inventory, home prices soared nationwide. According to the National Association of Realtors (NAR), the median
US Home Prices Surged During the Second Quarter of 2021
Dated: September 17 2021
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During the second quarter of 2021, as extreme demand continued to crush the housing inventory, home prices soared nationwide. According to the National Association of Realtors (NAR), the median sales price for single-family existing homes was higher compared to the second quarter of 2020 in 182 out of the 183 metro areas surveyed. In 94% of those metro areas, prices increased by more than 10% from 2020 sales.
Over the past year, low interest rates and increased work from home situations have sparked demand in housing across the country. As a result, housing inventory hit record lows, which is driving up home prices. In some areas, prices are increasing so swiftly that they are outweighing the benefits of low mortgage rates. However, experts predict that the market may begin to slow slightly as we move forward into the end of 2021 and beginning of 2022. NAR’s chief economist, Lawrence Yun, said that “the housing market looks to move from ‘super-hot’ to ‘warm,’ with markedly slower price gain.”
For more information on the current market, click here.
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Lisa Lowe
Realtor®
Graduate Realtor® Institute /GRI®
Certified Military Residential Specialist/CMRS®
Seller Representative Specialist /SRS®
Certified Military Residential Specialist/CMRS®
Seller Representative Specialist /SRS®
Accredited Buyer Representative/ABR®
Real Estate Collaboration Specialist - Divorce/RCS-D™
Short Sales & Foreclosure Resource® /SFR®
Short Sales & Foreclosure Resource® /SFR®
Lisa Lowe
Lisa Lowe is an energetic agent with EPIC Home Realty. Lisa firmly identifies with the EPIC identity: Excellence, Professionalism, Integrity and Candor. She considers continuing education for herself ....
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