The housing market is starting to show some mixed signals between the Existing Home Sales data and the Pending Home Sales Data, is this the start of the 2021 housing crisis or is this normal for this time of year? What’s in store for our housing market with the eviction and foreclosure moratorium expiring at the end of the year? In this video, I discuss all of these points to give you my thoughts on the housing market 2020 for November as well as my housing market predictions for 2021.
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Articles mentioned in this video:
➡Pending Home Sales Falter 2.2% in September
✔After four straight months of contract activity growth, pending home sales declined slightly in September by 2.2%. The Northeast was the only region registering a monthly gain.
✔Nationally, contract signings climbed 20.5% compared to a year ago.
✔All four regions experienced double-digit year-over-year increases.
➡Existing-Home Sales Soar 9.4% to 6.5 Million in September
✔Existing-home sales grew for the fourth consecutive month in September to a seasonally-adjusted annual rate of 6.54 million – up 9.4% from the prior month and nearly 21% from one year ago.
✔The median existing-home price was $311,800, almost 15% more than in September 2019. Total housing inventory declined from the prior month and one year ago to 1.47 million, enough to last 2.7 months – a record low – at the current sales pace.
✔More than 7 in 10 homes sold in September 2020 – 71% – were on the market for less than a month.
I hope you appreciate this update on the real estate market 2020 for the california real estate market as well as this real estate market update from your local Huntington Beach Real Estate Realtor, Jeb Smith.
Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?
Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?
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Jeb Smith (huntington beach Realtor/orange county real estate)
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith
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