Real Estate Fall Housing Market November 2020 (Economy Crash Update 2020)

Описание: Real Estate Fall Housing Market November 2020 (Economy Crash Update 2020)

Happy Thanksgiving month. In this weeks update I am going to give you some statistics on the current market. The unemployment numbers dropped more in October than in September and a weekly job market report shows it may be slowing down.

The home loan rates remain at historic lows now under 2.8%

Although in October listing prices were up a bit, demand has took a minor step back.

In the 2nd quarter of this year we saw a huge decline in GDP at about 31.4% likely influenced by shut downs, lock downs and fears of the virus. The 3rd quarter saw a massive recovery at 33.1% GDP growth.

National inventory declined by 38.3% over last year.

The October national median listing price was $350,000, up 12.2% compared to last year. Large metros saw price gains slow but prices are still 8.9% higher than last year.

Nationally, the typical home spent 53 days on the market in October, 13 days less than the same time last year, and one day less than last month.

This is the first time in our records that homes sold more quickly in October than September, and signals a continuation of an unusually active fall market.

Lastly make sure to follow us on all social media by using the links in the comments or the bio! Have a great week.

thanks for watching

The Paulauskas Team
www.TOMPAUL.info

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