Recent housing data is beginning to reflect a more balanced market. In other words, we are seeing less of the home buying frenzy that took place throughout the spring and summer. With this said, could a second wind be in store for the real estate market? According to the most recent Weekly Housing Trends Report from the National Association of Realtors®, there may be signs of another wave of home buying. We discuss some of these results below.
Key takeaways
- For the week ending 9/11/21: median listing prices increased by 9.7% year-over-year
- After a slight dip, new listings increased by 2%
- Total inventory of active listings for sale was 22% less than last year. This is actually an improvement from the 25.8% decline year-over-year from last month
- The number of days on the market decreased by 12 days year-over-year
Data Summary:
| All Changes year-over-year | First 2 Weeks March 2020 | Week ending August 28, 2021 | Week ending September 4, 2021 | Week ending September 11, 2021 |
| Median Listing Prices | +4.5% | +8.6% | +8.3% | +9.7% |
| New Listings | +5% | +1% | -8% | +2% |
| Active Listings | -16% | -24% | -24% | -22% |
| Time on Market | 4 days faster | 15 days faster | 12 days faster | 12 days faster |
Summary
Not surprisingly, we are seeing a more balanced market as we enter the fall months. With this said, this may not be a typical fall season as activity is likely to be busier than normal for this time of the year. While the uptick in home prices may be welcomed news for sellers, it could likely result in continued frustration from home buyers. The silver lining for buyers will be the slight improvement in inventory of homes for sale, which may even result in more negotiating power in certain markets.
At Live South Florida Realty, Inc. we have assisted many clients build their real estate investment portfolios. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!
