Housing demand is strong where employment is also growing robustly.
The NAR Research team and realtor.com partnered to do an analysis of affordability at different income levels for all active inventory on the market.
Eighty-nine percent of respondents reported that home prices remained constant or rose in March 2018 compared to levels one year ago.
During the December 2017–February 2018, properties typically sold within one month in Washington, California, Nevada, Utah, Colorado, Nebraska, Minnesota, Michigan, Kentucky, New Hampshire, Massachusetts, and the District of Columbia.
Lack of homes available for sale and the concomitant rise in prices appears to be sidelining many first-time potential homebuyers in 2018.
Despite rising prices, the share of investor and vacation home buyers has held steady in the past two years.
A healthy economy and the solid pace of job creation continues to drive homebuying demand.
Mortgage rates dipped to 4.27 percent this January, down 2.5 percent compared to 4.38 percent a year ago.
Imposing a 25 percent tariff on imports of steel and a 10 percent tariff on imports of aluminum, even if excludes those imports from Canada and Mexico, will raise the price of newly constructed home.
REALTORS® report “low inventory” and “interest rate” as the major issues affecting transactions in February 2018.
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