Quote Of The Week: “The Housing Market Is On A Tear”

(Image: FilterGrade/Unsplash)

The pandemic-provoked rush to move has set the real estate market on fire. If you have friends or family shopping for a new place to live, you’ve undoubtedly heard complaints of ultra-competitive bidding wars, slim inventory, and inflated prices. Clients want to know whether the red hot housing market is due for a fall, or if this seller-friendly market is here to stay. Here are timely insights from Nicole Friedman of the Wall Street Journal, excerpted here, on what to expect from housing. You can read the full article by clicking this link:

“The residential real-estate market is on its biggest tear since 2006. …In 2020, sales of previously owned U.S. homes surged to their highest level in 14 years, and many economists forecast sales to rise again this year.”

“The current housing boom is far more stable than the last one and poses fewer systemic risks, economists say. A downside: There are more barriers to entry, and it’s more difficult for buyers who aren’t already homeowners to make that first purchase. Market watchers also say that a number of longer-term trends are at play that should keep the housing market hot, or at least steady, even after Covid-19-related demand fades.”

Nicole Friedman, The Pandemic Ignited a Housing Boom—but It’s Different From the Last One, The Wall Street Journal, March 15, 2021

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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One Response to Quote Of The Week: “The Housing Market Is On A Tear”

  1. Knyvett April 9, 2021 at 1:36 pm #

    That’s nice to hear. Our neighbor three doors down just sold their 3/2 with a pool for just shy of $1M after being on the market for 3 days – and they have 4 back up offers! 🙂

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