Market Update: December 2020

by | Dec 7, 2020 | Beth's Blog | 0 comments

The real estate market in the US continues its growth. Here is some hot-off-the-press news for you.

October New Home Sales soared 41.5% over a year ago and 29.1% above their pre-pandemic high. Builders are well-motivated when supply is below 4.3 months and it’s now at 3.3!

Conforming loan limits for mortgages backed by Fannie Mae and Freddie Mac will go up to $548,250 in 2021–and up to $822,375 in high-cost areas, plus Alaska, Hawaii, Guam, and U.S. Virgin Islands. Only 18 counties stay at 2020 limits.

Black Knight reports a record 19.4 million “high quality” homeowners could refinance and save an average of $309 a month, with 4.2 million saving at least $400 a month, and 2.7 million $500 a month or more!

If you are interested in selling your home, now is the time! Inventory is quite low and it is a great time to sell. With the hot market in new home sales, I have been helping people sell their homes and then begin the process of building their new home. Give me a call at 214-769-2947 if you are interested in what this looks like! I would love to help you move into your dream home!

Beth Brake: Realtor-Team Lead
Performance Driven Excellence