HouseCanary, INC.- US Housing Market Report During Election Time
Real Estate During Election Times: Housecanary Reports
Supply Remains Exceptionally Low as Net New Listings are Down 8.5% Year-Over-Year and Have Continued to Decline 8.9% Week-Over-Week
Housing Demand Fluctuations are on Par with Seasonal Norms, with Listings Under Contract Outpacing 2019 Levels by 3.9%
Supply-Demand Imbalance Has Created a Roadblock for Buyers Searching for Lower-Priced Homes, with Listing Volume for Homes Under $200k Down 28.2% Year-Over-Year
HouseCanary, Inc. is a leading provider of residential real estate data and home valuations.
Jeremy Sicklick, Co-founder and Chief Executive Officer of HouseCanary, commented: “As the election draws near, buyers and sellers appear to remain in a holding pattern with the single-family residential listing market showing little deviation from trends we have been observing over the past few weeks. While fluctuations in demand are following seasonal patterns, supply levels are drastically underperforming versus cyclical norms. Competitive bidding wars stemming from persistent tight supply have posed a challenge to first-time buyers searching for homes in lower price tiers as transaction prices have been driven up across the country. The result of the upcoming election may have the potential to throw the housing market recovery off its current course – especially as the CARES Act moratorium is set to expire at the start of 2021, which could potentially lead to a flood of supply being released into the market.”
Amongst these times, especially during election, HouseCanary gives readers; buyers, sellers and everyone who is interested in real estate, a more in depth understanding of what is going on with real estate during Covid and election. They go into the detailed numbers as to how homeowners in the US has been effected and how real estate is thriving right now.
To read more about their article please visit:
http://www.housecanary.com/wp-content/uploads/2020/10/Market-Pulse-Report-23.pdf