Summer housing market is not cooling down this fall

Housing Wire

If you’re in the process of looking for a new home, this fall season might give you the perfect opportunity make the purchase that you’ve been waiting for all year. According to new data from Realtor.com, this could be the hottest fall housing market in a decade. This recent Housing Wire article by Kelsey Ramírez shares more details on what the fall season will bring to the housing market. 

Home sales in September moved 4% faster than last year, according to the data. The number of days on market is also expected to decreased by three days from last year.

“House hunters who were shut out this summer because of fierce competition could fare better this fall, with more opportunities to buy and mortgage rates still near all-time lows,” realtor.com Chief Economist Jonathan Smoke said. “But don’t expect bargains—prices haven’t come down from this summer’s record highs.”

“Overall, the fundamental trends we have been seeing all year remain solidly in place as we enter the traditionally slower sales season, and pent-up demand remains substantial as buyers seek to get a home under contract while rates remain so low,” Smoke said.

[Read the full article here]

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