Housing Market Hurdles
Housing Market Hurdles
The housing market largely outperformed the rest of the economy throughout 2020. But the housing market’s recovery still remains more “lopsided than ever as the gap between buyer demand and supply widens,” according to a newly released report from realtor.com® about the pandemic’s impact on the housing market over the past year.
New listings remain well-below the pre-COVID-19 baseline. However, the housing market overall in sales is performing above pre-pandemic levels, according to realtor.com®’s Housing Market Recovery Index.
“The housing market bounced back so much faster than other sectors of the economy that many have forgotten that housing activity slowed to a crawl during the early days of the pandemic,” says Danielle Hale, realtor.com®’s chief economist. “One year later, the demand for housing remains strong, while supply remains limited.”
Realtor.com® reports there are 50% fewer homes available for sale now than a year ago. The homes that are on the market are selling quickly. During the week ending March 6, homes sold, on average, six days faster than a year ago. “Buyers not only have fewer homes to choose from, they need to act fast to succeed,” realtor.com® notes in its report.
But Hale cautions a turn may be ahead for the housing market. “We expect the vaccine’s rollout to alleviate some sellers’ anxieties, which could help the supply crunch,” she notes. “At the same time, although interest rates remain low, they’ve begun to increase, which could test buyer demand in the coming months.”
Source:
©National Association of REALTORS®
Reprinted with permission
admin
For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.
Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.
Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.
When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.
For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.
