HUD Articles
Is the housing market cooling off?
November 25, 2021
The COVID-19 housing market underpinned by remote work, pandemic-induced low mortgage rates, and a demographic wave of first-time homebuyers has been among the hottest in the nation's history. Since the onset of the crisis, median home list prices are up 23%. Recently, some of that exuberance has finally left the market. Indeed, since bottoming out this spring, housing inventory is up 30% as some homebuyers start to balk at record prices, and more sellers who fear losing out on big gains are listing. While the market is clearly still a seller's market, it has inched a bit in buyers’ favor in recent months. Source Fortune Magazine.
