{"id":10644,"date":"2021-04-27T16:31:32","date_gmt":"2021-04-27T16:31:32","guid":{"rendered":"https:\/\/elizabethjebef.com\/?p=10644"},"modified":"2021-04-27T16:31:33","modified_gmt":"2021-04-27T16:31:33","slug":"will-the-housing-market-maintain-its-momentum","status":"publish","type":"post","link":"https:\/\/elizabethjebef.com\/?p=10644","title":{"rendered":"Will the Housing Market Maintain Its Momentum?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Last week\u2019s\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.nar.realtor\/newsroom\/housing-market-reaches-record-high-home-price-and-gains-in-march\" target=\"_blank\">Existing Home Sales Report<\/a>\u00a0from the\u00a0<em>National Association of Realtors<\/em>\u00a0(NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed \u2013\u00a0<strong>there aren\u2019t enough homes to buy<\/strong>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lawrence Yun,&nbsp;<em>Chief Economist&nbsp;<\/em>at NAR, explains in the report:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>&#8220;The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.&#8221;<\/em><\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Yun\u2019s insight was supported the next day when the&nbsp;<em>Census Bureau<\/em>&nbsp;released its&nbsp;<a href=\"https:\/\/www.census.gov\/construction\/nrs\/pdf\/newressales.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Monthly New Residential Sales Report<\/a>. It shows that&nbsp;<strong>newly constructed home sales are up 20.7% over the previous month.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Buyer demand remains strong. With more of the adult population becoming vaccinated and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>How does this shape home sales going forward?<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><a rel=\"noreferrer noopener\" href=\"https:\/\/www.fanniemae.com\/media\/38961\/display\" target=\"_blank\"><em>Fannie Mae<\/em><\/a>,\u00a0<a rel=\"noreferrer noopener\" href=\"http:\/\/www.freddiemac.com\/research\/forecast\/20210414_quarterly_economic_forecast.page\" target=\"_blank\"><em>Freddie Mac<\/em><\/a>, and the\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.mba.org\/news-research-and-resources\/research-and-economics\/forecasts-and-commentary\" target=\"_blank\"><em>Mortgage Bankers Association<\/em><\/a>\u00a0(MBA) have all forecasted that total home sales (existing homes and new construction) will continue their momentum both this year and next. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Living through a pandemic has caused many to re-evaluate the importance of a home and the value of homeownership. The residential real estate market will benefit from both as we move forward.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>27 April 2021 ~ Last week\u2019s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[219,220,217,235],"tags":[232],"class_list":["post-10644","post","type-post","status-publish","format-standard","hentry","category-a-coronavirus-economy","category-homeowners","category-sellers","category-sellers-market-2","tag-housing-market"],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"elizabethjebef","author_link":"https:\/\/elizabethjebef.com\/?author=2"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts\/10644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10644"}],"version-history":[{"count":0,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts\/10644\/revisions"}],"wp:attachment":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}