{"id":7516,"date":"2021-04-27T10:00:51","date_gmt":"2021-04-27T10:00:51","guid":{"rendered":"https:\/\/thezakariagroup.com\/will-the-housing-market-maintain-its-momentum\/"},"modified":"2021-04-27T10:00:51","modified_gmt":"2021-04-27T10:00:51","slug":"will-the-housing-market-maintain-its-momentum","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/will-the-housing-market-maintain-its-momentum\/","title":{"rendered":"Will the Housing Market Maintain Its Momentum?"},"content":{"rendered":"
\n

\"Will<\/p>\n

Last week’s Existing Home Sales Report<\/a> from the National Association of Realtors<\/em> (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy<\/strong>. There are currently 410,000<\/a> fewer single-family homes available for sale than there were at this time last year.<\/span><\/p>\n

Lawrence Yun, Chief Economist <\/em>at NAR, explains in the report:<\/p>\n

\n

“The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.”<\/em><\/p>\n<\/blockquote>\n

Yun’s insight was supported the next day when the Census Bureau<\/em> released its Monthly New Residential Sales Report<\/a>. It shows that newly constructed home sales are up 20.7% over the previous month.<\/strong><\/p>\n

Buyer demand remains strong. With more of the adult population becoming vaccinated and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months.<\/p>\n

What will this mean for home sales going forward?<\/strong><\/h4>\n

Fannie Mae<\/em><\/a>, Freddie Mac<\/em><\/a>, and the Mortgage Bankers Association<\/em><\/a> (MBA) have all forecasted that total home sales (existing homes and new construction) will continue their momentum both this year and next. Here’s a graph showing those projections:\"Will<\/a><\/p>\n

Bottom Line<\/strong><\/h3>\n

Living through a pandemic has caused many to re-evaluate the importance of a home and the value of homeownership. The residential real estate market will benefit from both as we move forward.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[99,102,873],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nWill the Housing Market Maintain Its Momentum? - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/will-the-housing-market-maintain-its-momentum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will the Housing Market Maintain Its Momentum? - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. 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