WASHINGTON (AP) – U.S. home prices soared in July by a record amount from a year earlier as buyers desperate for homes bid up prices amid a limited supply.
The S&P CoreLogic Case-Shiller 20-city home price index surged 19.9% in July compared with a year ago, the largest gain on records that date back to 2000. In 17 of the 20 cities, prices rose more quickly in July than in June. And prices reached all-time highs in 19 of 20 cities. The one exception was Chicago, where prices are just 0.3% below their 2006 peak.
Sales of new and existing homes have jumped this year, driven by low mortgage rates and a desire for more living space during the pandemic. Sales of existing homes are up 16% in the first eight months of 2021 compared with last year, and they’re up 12% from the same period in 2019.
Phoenix, San Diego, and Seattle reported the biggest price increases, with Phoenix leading the nation for the 26th straight month.
The rising prices are making it harder for younger would-be buyers to purchase a home, with the proportion of sales going to first-time homebuyers falling to 29% last month, the lowest since January 2019, according to the National Association of Realtors® (NAR). Meanwhile, investors snapped up 15% of homes in August, up slightly from a year earlier.
There were just 1.29 million homes for sale in August, according to the NAR. That’s down nearly one-third from a year earlier.
There are some signs that home demand is cooling, and sales ticked down last month. Fewer buyers are waiving home inspections, the NAR says. Still, 87% of homes are being purchased after less a month on the market.
👉 The Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ serves all of Southwest Florida 🌴 Directly Helping Sellers and Directly Helping Buyers ☘
Recently Barry & Kim with the Hoey Team ☘ helped a number of sellers who had been in Foreberance and similar situations; we were able to get all of them to a "good place"; worry free; with excellent end results. We help people in many different situations; everybody's situation is different; if you know someone needing help; or simply wants advice, please have them reach out to us in confidence: 239-360-5527; we continue to achieve and set record setting sales prices ☘ We also offer a concierge service, if their property needs work 🍀 For every property situation, we have a solution ☘
As people continue to move and relocate to the general areas of Lee & Collier Counties from other parts of the United States, it is important that we are able to serve all of the area; which we do efficently, with the ability offer many different Choices and Lifestyles all of which are in abundance here in SW FLA 🌴
Inventory remains low overall; we do continue to list and market new property listings to the marketplace and we sell many different type homes; Resale & New Construction; Multigenerational Family Compounds, Regular Single Family Homes, Villas, Townhomes and all Condo types, from low rise, to waterfront high rise right on the beach.
We have also seen an uptake in people planning ahead, and buying that second home now, rather than waitiang as they were planning to do; especially with Snowmads and Zoombirds. Previously we had Snowbirds; interesting how terminology keeps changing.
Lower interest rates are probably helping with the increased sales; oftentimes over asking price. Low inventory is still the greatest chalenge for buyers; but if prepared you are ahead of the game; ask how we can help. We recently got a number amazing deals for buyers; even in this Hot Sellers Market; and we are working on others; so there are deals out there; if you work with us, we will find them for you.
For those relocating to Florida, we are pleased to be able to assist homeowners in other parts of the United States who need to sell to buy here; please reach out today for more information and how you can have a smooth, non-stressful transition / relocation.
At our Real Estate Team; Hoey Team ☘ we have been succesfully working 100% virtually / remotely for the past number of years as we continue to grow; i'm glad we already had systems in place to better help sellers and buyer with goal posts continually moving in our industry.
Article content from FR (Florida REALTORS) Newsletter Magazine, and from other sources including Hoey Team ☘ 239RealEstateDeals.Com LLC & Freddie Mac / Fannie Mae - Make sure to ask us for more details; Call 239-360-5527 ☘
For those Living in or Visiting Southwest Florida wanting additional resources, or a list of places to see / visit: www.SWFL-Events.Com Feel free to share this resource page with others 🌴
NOTE for Buyers and Sellers: On our Hoey Team ☘ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS right HERE: ? www.239VT.com ?
For more Real Estate related information, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.
P.S. --> If You'd like for us to create a Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details: https://HoeyTeam.239RealEstateDeals.Com
CLICK HERE to Visit our High Definition Virtual 3D Open House Tours Page 24/7
Click Here for our most recent Market update Report for Southwest Florida and beyond.
We do not discriminate on price, we help homeowners and renters in all price ranges; Click Here for more information on the Hoey Team ☘ and what we do to help or visit HoeyTeam.Net anytime.
Here is our informational Southwest Florida Website ☘
Barry is a CLHMS; Click Here to see how we help with higher end properties.
Please visit our Hoey Team ☘ Luxury Home Market Page by Clicking Here
Best Places to Retire? 13 of the ‘Top 25’ Are in Fla ☘ Hoey Team ☘ exp Realty 🌴 Southwest Florida 🌴
Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.
We hope that you find the information useful. If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team ☘ 239RealEstateDeals.Com LLC
Email us at Barry@SWFLLuxury.Com or KimZuponcic@Gmail.com or Call/Text the Hoey Team ☘ at: (239)-360-5527
“Please Share this and our informational website with anyone who you think the info will help.
Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can.
Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats. Thanks, Barry & Kim ☘ 🍀