Why Home Sales are Humming

by pbaeta

Why Home Sales Are Humming

Lawrence Yun National Association of Realtors Chief Economist — Sept. Oct. REALTOR Magazine

Why home sales are humming!  Home prices have mostly outpaced broader consumer price inflation over the past decade.  From 2010 to mid-2020, the median home price rose 61%, to reach $295,300.  The key reason: steadily shrinking supply coupled with steadily rising demand.

Mortgage rates are expected to remain very low as the Federal Reserve aims to spur the economy and bring back lost jobs.  That’ll keep buyer demand strong, even as inventory woes remain.

Published on 2020-10-16 18:51:28