Published On Nov 8, 2020
The National Association of Realtors just released a new housing market report and the market is even worse than I thought, especially for home buyers. The report shows that we have shifted from a seller's market to an extreme seller's market. The number of new listings entering the market is way down while the number of transactions is way up and this is driving home values to increase 15% over the last 12 months. This is great for homeowners but not good for home buyers trying to enter the market, especially first time home buyers.
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