Breaking Down the Hot Housing Market This Summer

If you’re thinking of moving and putting your home up for sale this summer, be sure to get ready to move right away, too. In today’s housing marketing climate, realtors recommend calling the movers as soon as you start escrow. With some houses on the market in a record low of just a few days (pre-pandemic was 25-72 days), the home buying and selling process is a much quicker transaction than ever before.

Here’s a breakdown of the latest housing market trends, according to data from the U.S. Census Bureau, U.S. Department of Housing and Urban Development (HUD), and realtor.com’s Trend Report:


  • Median sale price of new homes sold is $374,400

  • Average sale price of all homes (new and existing) is $430,600

  • There is a supply of 5.1 months at the current sales rate

  • The national inventory of active listings declined by 43.1% YoY 

  • Typical home spent 37 days on the market

Growth in new listings is expected later into the summer season this year so the busy moving season could expand as well. Remember, movers are booked an average of 4-6 weeks in advance because the housing market is so hot. Get a quote today!

 

Categories: Real Estate