Home Prices Rising Into Fall

Home Prices Rising Into Fall

Looking forward, upward price pressure seems likely to continue at least through the fall, thanks to the large inventory deficit. Purchase demand is holding steady at high levels, reflected in strong pending sales data, perhaps due to delayed purchases from earlier this spring and summer. Given that the housing market typically begins to cool off by late August, this stable volume of sales looks even more impressive: pending sales were up a whopping 23.3% year over year in the week ending September 12.

The Fed expects to keep interest rates near zero through at least 2023, and allow periods of higher inflation, in an effort to revive the economy. 

"American home shoppers faced an historic shortage of listings to choose from this summer, and that scarcity is now reflected in rapidly appreciating home values after a sluggish start to the home shopping season this spring," said Zillow economist Jeff Tucker. "Builders are racing to catch up with demand, and rising prices should encourage more potential sellers to come off the sidelines and list. Still, the shortage of inventory should keep housing markets unusually tilted in sellers' favor this autumn."

My focus is to best understand the goals and visions of my clients, ensuring all decisions are made with a wealth of information and the necessary tools for a successful, rewarding experience.
I have found my “Slice of Heaven” I look forward to you finding yours!

Kathytoonder@gmail.com
http://www.sellingsarasotarealestate.com
Have Questions? Call 941-544-7270

Author: Kathy Toonder
Phone: 941-544-7270
Dated: October 6th 2020
Views: 1,343
About Kathy: I enjoy walking the warm sandy beaches, swimming and watching the magnificent sunsets on Florida’s...