• Home prices accelerated through the second quarter, hitting an annualized appreciation rate of 21.2%. Before 2020, the strongest quarterly advance was the 11.0% annual rate recorded in the second
    quarter of 2005. Over the past year, prices have risen 17.4%, the strongest pace of appreciation over four quarters in the 30-year history of the data.1
  • Of the nation’s Top 100 metro areas, 97 had home price appreciation topping 10% in the year ending in the second quarter of 2021. Boise topped the list with a 41.1% increase. The lowest appreciation rate was in San Francisco, where home prices rose 4.5%. Two years ago, by contrast, almost half (45) of the Top 100 metro areas had an appreciation rate below 4.5%.1
  • New home sales rose 1.0% in July, ending a three-month skid of declining sales. While sales over the last two months are the lowest since the surge that began 15 months ago, July’s annualized sales rate of 708,000 units is still 19.0% higher than the pace set during 2015-19. Year-to-date, new home sales in 2021 are running 6.9% ahead of sales through the first seven months of 2020.2
  • Existing home sales climbed 2.0% in July to a seasonally adjusted annual rate of 5.99 million units, the strongest pace in the last four months. Year-to-date, sales are 18.5% higher than they were in
    2020’s first seven months.3
  • Of the existing homes sold in July, 89% were on the market for less than one month. Meanwhile, the number of existing homes on the market increased 7.3% in July to 1.32 million units. That’s 12.0%
    fewer homes on the market than in July 2020.3

Read complete article  Keeping Current – 9-3-21

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