Key Market Indicators – August Recap 2020
Jackson County Housing Update - Resale Only
Frenzy Market Returns
Average % of New Listings (Pending) in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
SHARE HOUSING UPDATE
We're virtually sold out in Jackson County up to $750,000 (93 percent of sales activity). Buyers will find the greatest selection and availability of new listings coming on the market during September and October, until next March. Additionally, as we head into the year 2021, the intensity for each new listing will remain at a frenzy. Given the historically low interest rates bringing buyers out in big numbers and the shortage of available homes for sale, we are seeing strong price appreciation locally.
One Word: WOW!
V-Shaped Sales Recovery is Underway in Real Estate
Many current and prospective homeowners are curious about how real estate is faring in today’s economy. Historically low interest rates and strong buyer demand has made the real estate market a bright spot in the national economy. Recently, Lawrence Yun, the National Association of REALTORS (NAR) chief economist, noted that there are no indications real estate activity will wane any time soon, as the true V-shaped sales recovery continues.
Tap to enlarge and zoom