This report presents key results about market transactions from the November 2020 REALTORS® Confidence Index survey.
The GDP rose 33.4% in Q3 of 2020; housing and consumer spending are driving the recovery.
The new November 2020 NAR SentriLock Home Showings report indicates that there was a decrease in nationwide foot traffic on a month-over-month basis. Nationally, Sentrilock home showings were up 16% year-over-year.
The number of Americans applying for a new jobless claim rose again last week to 885,000, the highest weekly total since September.
REALTORS® have stepped up to the plate, giving back to the communities in which they live in the form of both their time and resources.
Food service and drinking place sales decreased 3.9% in November from October figures. But unlike traditional brick-and-mortar food service and drinking place retail, online food delivery is operating at record highs as a result of the coronavirus pandemic.
Retail and foodservice sales are estimated at $546.5 billion, which is a 1.1% decrease from prior month figures but up 4.1% year-over-year.
The 30-year fixed mortgage rate fell sharply this week, hitting a new record low at 2.67%. NAR forecasts the 30-year fixed-rate mortgage to average 2.9% and 3.0% in the first and second quarter of 2020, respectively.
Affordability declined in October compared to September as the median family income rose by 3.3% while the median home prices grew by 16.0%.
Homeownership is the key pathway to build wealth and narrow the racial income and wealth inequality gap.
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