National Real Estate Market Update -September 2021

Real Estate with Stephanie Souza Breault Orcutt Santa Maria Homes



National Real Estate Market Update -September 2021 So where is the real estate market nationally and what is happening in the big picture of things? So the biggest news is the drop in pending home sales. So now the market is starting to cool off a little bit and I wanted to show you what it actually looks like. So as you can see, with January 2020, we were cruising right along and then March hit and the shutdown happened. There’s a dip, a very sharp dip, and then the incline up is when we were able to start working again in the housing market. Yes, it started to slow from the highs in the spring and the summer months. However, we’re still way above the historical healthy level. If you look at the last 10 years, we are still above the healthy level line as you could see on this graph. So nationally, one out of every two homes that’s being sold is being sold for over the list price. So why is this still happening?