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Another Record-Setting Month for Housing

May 31, 2021

first_imgHome / Daily Dose / Another Record-Setting Month for Housing In April, homes stayed on the market an average 32 days, and the median sales price hit $320,000. Both metrics set new records in the 13-year history of a report published by RE/MAX Holdings, franchisor of real estate brokerage services. The data team there goes on to report more key housing market indicators that they say signal “a potentially torrid market” as we enter traditional peak sales months.Quick sales further strained the housing inventory, which reached a record low of 1.1, compared to the previous report record of 1.3 in March. The shortage remains a primary issue, RE/MAX reports. However, with more homes coming onto the market in April, recent double-digit, month-to-month declines in active inventory dropped to just 2.4% from March to April, RE/MAX reported. Still, compared with last year, inventory was down 42.2%.”Even with rising home prices, super-quick turnarounds, and fierce competition for available listings, April 2021 saw more home sales than any April in at least 13 years. That’s a clear reflection of overwhelming demand and the resilience of today’s buyers,” said Adam Contos, CEO of RE/MAX Holdings, Inc. “The 32 Days on Market average—a report record—is noteworthy, too. Many listings are being snapped up the day they go on sale—or within just a few days.”In 53 metros covered by the RE/MAX report, April home sales were up 5.3% over the previous month. One year ago during this same period sales dipped 13.7%, but that was due to the coronavirus and socially distancing.Just as other researchers have said, the team at RE/MAX remarked that their year-to-year- comparisons are skewed by pandemic-spurred restrictions during April 2020. Nonetheless, they say, housing activity in the report’s 53 markets nationwide last month hit several notable milestones:Home sales were the highest for April in report history and marked the 10th highest month in the past 13 years.April’s record low of 32 days on market trimmed four days off the previous report record of 36 days set in November 2020—a significant change from April 2020’s 46 days.The median sale price jumped 5.9% over March and was the highest month-to-month increase since 6.2% from May to June 2019.The RE/MAX National Housing Report is distributed each month at news.remax.com/housing-reports. Sign up for DS News Daily About Author: Christina Hughes Babb 13 days ago 481 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Share 2Save 2021-05-17 Christina Hughes Babb Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Related Articles Demand Propels Home Prices Upward 1 day ago Demand Propels Home Prices Upward 1 day ago Servicers Navigate the Post-Pandemic World 1 day ago The Best Markets For Residential Property Investors 2 days ago Another Record-Setting Month for Housing Previous: Most Valuable Company: Claims Recovery Financial Services Next: Servicers and Regulators Unite for Struggling Borrowers Data Provider Black Knight to Acquire Top of Mind 1 day ago Data Provider Black Knight to Acquire Top of Mind 1 day ago Servicers Navigate the Post-Pandemic World 1 day ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img

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