During the December 2017–February 2018, properties typically sold within one month in Washington, California, Nevada, Utah, Colorado, Nebraska, Minnesota, Michigan, Kentucky, New Hampshire, Massachusetts, and the District of Columbia.
Lack of homes available for sale and the concomitant rise in prices appears to be sidelining many first-time potential homebuyers in 2018.
Despite rising prices, the share of investor and vacation home buyers has held steady in the past two years.
A healthy economy and the solid pace of job creation continues to drive homebuying demand.
Mortgage rates dipped to 4.27 percent this January, down 2.5 percent compared to 4.38 percent a year ago.
Imposing a 25 percent tariff on imports of steel and a 10 percent tariff on imports of aluminum, even if excludes those imports from Canada and Mexico, will raise the price of newly constructed home.
REALTORS® report “low inventory” and “interest rate” as the major issues affecting transactions in February 2018.
Existing-home sales declined 2.3% in January from one month prior while new home sales dropped 7.8%.
Strong buyer traffic amid low supply of homes coming into the market continues to push up home prices.
International Women’s Day is a day to acknowledge the economic, political, and social achievements of women. In recognition of this day we can examine the profile of women REALTORS® using the 2017 Member Profile.
Search Economists' Outlook