In January, properties were typically on the market for 21 days, first-time buyers accounted for 33% of sales, and cash sales made up 19% of sales.
Instant Reaction: Second 2020 Q4 GDP Growth Estimates Show Residential Investment Leading the Economic Recovery
Today’s second GDP estimate for the 2020 Q4 shows the economy grew slightly higher at 4.1% than previously estimated (4% advance estimate).
Mortgage rates rose sharply this week to 2.97% as the 10-year Treasury yield hit its highest level in the past year.
Eleven billion dollars in rental assistance is needed per month to assist renters and small landlords.
Buyers purchasing multi-generational homes during the pandemic rose to a series high of 15%.
More first-time buyers are going with conventional rather than FHA-insured loans.
New jobless claims rose slightly by 13,000 last week to 861,000, while continued claims dropped below 5 million.