The year started off with strong home price growth and continued for the second quarter of 2021, with 94% of the markets showing double-digit home price appreciation. National median prices rose 22.9% year over year to $357,900.
In June 2021, home showings decreased in every region except the West: Northeast region (-26%), Midwest (-18%), South (-9%) and West (34%).
The apartment market is booming. Based on NAR’s analysis of CoStar market data in 138 markets1, net absorption (change in number of occupied units) rose by 207,035 units in 2021 Q2 from the prior quarter.
At the national level, housing affordability declined in May compared to a year ago, as the median family incomes rose modestly by 1.2% while the monthly mortgage payment increased 20%.
In 2020, vacation home sales rose by 16.4%, outpacing the 5.6% growth in total existing-home sales.
Lisa Herceg, lead author of the report, provides perspectives on how to use the report, insights into the data, and the results she found to be most interesting.
In 2020, vacation home sales rose 16.4%, outpacing the growth in total existing-home sales of 5.6%.
The Loan Type Survey looks at multiple aspects of financing, including the types of loans and loan products members’ clients are using, how they affect home buyers’ offers, and what loan products are least attractive to home sellers.
The eviction moratorium is slated to expire on June 30, 2021, but many renters are still struggling to pay rent, and need rental assistance of at least $3.4 billion to avoid potential eviction.
U.S. advance estimates of retail and food service sales for April 2021 essentially remained unchanged from March 2021. Consumer retail spending recorded a seasonally adjusted total of $619.9 billion in April.
