06/29/2021
Real Estate Market Update 2021 2nd Quarter
I have had an amazing career in real estate and have seen multiple market cycles.
We are in one of the hottest real estate cycles in American real estate history with prices skyrocketing however my expertise is in specialized assets (Short Sales, Pre-Foreclosure and Foreclosure properties.)
So as I continue to watch what happens all across the board, I’m here to continue to help educate and share.
Here are just few current updates:
✔️ Rental prices are up due to homeowners off-loading their properties, making the rental market super competitive as sellers wait for the market to soften
✔️ More existing homes were sold in 2020 than in any other year since 2006 (right before mortgage meltdown)
✔️ Federal Reserve buys $40 billion in mortgage bonds every month
✔️ Market Trends in May | June 2021 is pointing a shift implying we may have passed the peak of the hot housing market
✔️ Realtor.com shared that time on market slowed for the first time in 4 months
✔️ NAR’s Affordability Index states that affordability has fell in April as opposed to March as median income fell by 1% while monthly mortgage increased by 16.1%
✔️ Millennials are the fastest growing segment of homebuyers
There is way more data I look into than what I can share in a post, however education is most important.
All together due to the high housing demand, the residential real estate market will remain strong. Even with the moratorium scheduled to end in September 2021 Fannie Mae has stated that due to improvement in labor market, high levels of home equity will help limit distressed sales in 2021.
If you are in a distressed property situation, it is important to consult with a specialist. Please DM me with any questions.