{"id":1665,"date":"2021-04-27T13:30:14","date_gmt":"2021-04-27T13:30:14","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1665"},"modified":"2021-04-27T13:30:14","modified_gmt":"2021-04-27T13:30:14","slug":"will-housing-market-maintain-momentum","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/will-housing-market-maintain-momentum\/","title":{"rendered":"Will the Housing Market Maintain Its Momentum?"},"content":{"rendered":"
\"\"

Will the Housing Market Maintain Its Momentum?<\/p><\/div>\n

Last week\u2019s\u00a0Existing Home Sales Report<\/a>\u00a0from the\u00a0National 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\u00a0there aren\u2019t enough homes to buy<\/strong>. There are currently\u00a0410,000<\/a>\u00a0fewer single-family homes available for sale than there were at this time last year.<\/p>\n

Lawrence Yun,\u00a0Chief Economist\u00a0<\/em>at NAR, explains in the report:<\/p>\n

\u201cThe 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.\u201d<\/em><\/p><\/blockquote>\n

Yun\u2019s insight was supported the next day when the\u00a0Census Bureau<\/em>\u00a0released its\u00a0Monthly New Residential Sales Report<\/a>. It shows that\u00a0newly constructed home sales are up 20.7% over the previous month.<\/strong><\/p>\n

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

What will this mean for home sales going forward?<\/strong><\/h4>\n

Fannie Mae<\/em><\/a>,\u00a0Freddie Mac<\/em><\/a>, and the\u00a0Mortgage 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. Here\u2019s a graph showing those projections:<\/p>\n

\"\"

Strong Home Sales Forecaster This Year and 2022<\/p><\/div>\n

Bottom Line<\/strong><\/h3>\n

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

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
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THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Buyer demand remains strong. With more of the adult population taking back freedom and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months. Finish Reading Will the Housing Market Maintain Its Momentum?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[363,38,15,10,18,91,366,155,52,365,49,42,40,364,292,252,362,63,20,12,48,28,54,47,19,6],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1665"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1665"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1665\/revisions"}],"predecessor-version":[{"id":1668,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1665\/revisions\/1668"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}