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Some of what we’re seeing might be making up for a spring in which people were stuck at home and not buying.
The numbers suggest that the reopening of major parts of the country gave a boost to the housing market.
Demand is still outstripping housing supply.
Mortgage applications have picked up, along with pending sales.
Los Angeles mortgage broker Vivian Gueler is expecting a drop in the value of real estate.
Packed open houses mean lots of people touching doorknobs and flipping light switches.
But the uncertainty that’s driving those rates down is causing some to have second thoughts.
The Census Bureau reported housing starts fell 3.6% in January 2020 from the previous month, but rose 21.4% from January 2019.
With homeownership out of reach for many young people, journalist Angela Lashbrook called Zillow “a place we can imagine ourselves in a new reality.”
Research suggests a decline in housing affordability can significantly reduce job growth.
