39.5 percent of mortgaged residential properties in the United States were considered equity-rich in the third quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50 percent of their estimated market value.
According to national property broker Redfin, the number of homes for sale hit an all-time low during the week ending November 28, 2021. During that period, sustained demand pushed the median home price to another record high, and a third of homes sold in one week or less.
Based on new research by Zillow over the past three years, For Sale By Owners (FSBOs) made up 4-6% of all home listings nationally, which translated to roughly 63,000 homes for sale during September 2021. The research also found that FSBOs are most common in rural areas and tend to be more affordable.
Contract activity rose month-over-month in each of the four major U.S. regions. On a year-over-year basis, however, transactions were split, as two regions reported drops and two others posted gains.
According to new data from the Miami Association of Realtors, Broward County Florida broke its record for the most annual home sales in only 10 months as October 2021 sales totals pushed the market over the old standard.