April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above the asking price. While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon.
Normal spring increases in sales activity and relaxing COVID-19 policies created a bustling March real estate market. A busy and competitive buyer market is likely ahead with existing home sellers and new construction activity below necessary levels to bring the market back into balance.
December usually is one of the slowest months of the year for real estate. But strong buyer demand and near-record low-interest rates allowed for a healthy sales pace in December 2020.
November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows. These records have encouraged buyers to move forward on purchases, which continued to remain strong overall for the month.