- Housing News
- August 27, 2021
Existing Home Sales Continue to Bounce Back
After declining for four straight months from February through May, existing home sales are on the comeback trail, having now risen for two months in a row.
Ben is the Managing Editor for New American Funding. In this role, Ben helps with content creation, news coverage, and serving our audience of borrowers, real estate agents, loan originators, and other housing professionals. Prior to joining New American Funding, Ben worked at HousingWire, a top housing media outlet. Ben joined HousingWire in 2014 as a reporter and was later promoted to Senior Financial Reporter, Editor, and eventually to Managing Editor. During his time at HousingWire, Ben helped elevate HousingWire to national acclaim and record traffic growth. He was also honored with multiple awards for his work, including an Eddie Award from Folio Magazine and a Gold Award for Best Trade Magazine Story from the National Association of Real Estate Editors.
After declining for four straight months from February through May, existing home sales are on the comeback trail, having now risen for two months in a row.
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If you've been paying attention to real estate over the last year, you saw home prices rise substantially…unless you lived in Springfield, Illinois, that is. That's because home prices rose in just about every major metropolitan area in the last year. The only market where prices fell? Springfield.
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For much of the year, one of the common concerns among would-be homebuyers is that there are simply not enough homes on the market. It looks like there might be a bit of a light at the end of that tunnel, especially for first-time homebuyers.
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Considering that May 2021 was the best month of May for real estate contract signings in 16 years, it may not come as a surprise that things cooled a bit in June. But the cooldown was ever so slight.
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