Weekly Special | March 8, 2021

Year To Date Home Sales Strong In 2021

Year to date home sales moved higher with a strong February that saw year over year home sales move 5% higher. Currently, with a few more home sales remaining to be entered for February, the market is already up 10% for the year.

The blue bars in the graph above report the total number of homes sold from January through February each year, and it’s clear 2021 has started out strong.

The red circle shows that only 2005 and 2006 had more home sales in the first two months of the year, and those of us with long memories remember what transpired after those big years.

Doom & Gloom Return To Housing?

Perhaps the most-often discussed topic in real estate is whether or not we are heading towards a new housing bubble.

If you have this fear, I encourage you to watch this short video about a housing bubble in 2021.

Right now, we are seeing heightened demand that is primarily due to historic-low mortgage interest rates, but we ARE NOT seeing growth in the inventory of homes for sale, which would be the first sign of a new bubble forming.

Expect to see rising prices and scarce inventory until rates move higher.

The original one-page Weekly Special PDF is still available.