Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year.
Strong buyer activity has continued into the fall, which is normally the start of the seasonal slowing of the housing market.
In August, showings and pending sales remained at strong levels while housing inventory remained limited, continuing the competitive bidding market we have seen in recent months.
With the inventory of homes for sale still constrained, a competitive market for buyers shows little sign of waning.
Even as hopes of a phased June reopening all but faded, real estate activity continued to strengthen.
Mortgage rates are hovering near all-time lows, spurring strong interest in buyers.
April’s median sales price was up 8.9% compared to April of last year.
Sales were up compared to last year – a welcome and reassuring direction in a low supply marketplace.
As the stock market declined, so did mortgage rates offering a bad new-good news situation.