July 2021 statistics and the REALTOR market survey is in! What are REALTORs expecting? 

  • 1 in 4 think sales will be up next week
  • About 1 in 3 think prices will be up next week
  • 38.5% think listings will be up next week

Many homeowners are wondering how long the rising home prices will last. Should you sell now or wait until October or the end of the year? 

“Although the pace of sales is expected to cool during the second half of the year as things continue to normalize, California is still expected to end the year with nearly 8% more transactions than it recorded in 2020.”
“At a 444,500-unit pace, the state is on track for its best year for home sales in a decade.”

Sellers are confident that it is a great time to sell, but what are buyers thinking? We are performing similarly to how we did pre-COVID in 2019. 

“[Mortgage] applications are running slightly behind 2019 levels during the same point in the year.” 

Mortgage interest rates beneath three percent are still motivating home buyers to jump into the market despite high home prices and competition in writing offers. “the Freddie Mac 30-year fixed-rate mortgage statistic rose from 2.78% to 2.80% last week, rates remain relatively attractive”

Do you love where you live? What would tip you over the edge and push  you to sell?

Source: https://www.car.org/marketdata/marketminute

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.