Summer’s here, vaccinations are on the rise and things are getting a little closer to normal. What’s not as normal are these stratospheric home prices. Supply is an issue. And odds are it’s making things difficult for your buyers. Let’s jump into it!
The Big Story
Just looking at the headline numbers, you might come to the conclusion that things are slowing down.
According to the latest report from the National Association of REALTORS®, existing home sales were down 2.7% in April. Meanwhile, the number of new construction homes sold according to the Census Bureau and the Department of Housing and Urban Development was down 5.9% over the same period.
But when you take a deeper dive into the reports, a different story is told. The demand is there. Even with the dip in April, the annual pace is projected at 5.85 million existing homes sold. Because April 2020 was in the teeth of the pandemic shutdowns, it’s more fair to…