Nationally, median listing prices are up to over 400k, inventory down by 20% annually.
Realtor.com has released its latest economic data, and Realbloc is on the spot with the headline. As expected, prices have jumped to historic highs on low interest rates, historically low inventory, and of course the pandemic.
Nationally, the picture looks as follows:
Median Listing Price: $410,490
Price Change Month/Month: 1.1%
Price Change Year/Year: 6.9%
Inventory Change Month/Month: -2.5%
Inventory Change Year/Year: -20.7%
That last number is staggering. A fifth of the listings that were out there at this time last year are now gone. People are staying put more, and despite the purported ‘once in a generation tailwinds’, concerns about safety in touring a home abounds. It seems like a lot of folks are going to sit on the sidelines for the time being. Belt up and check out Realbloc for how the market looks near you!
