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REAL ESTATE UPDATES - SUMMER 2020
2020 has been a challenging year. With so much happening across the country, you might be wondering how the current crisis is impacting real estate trends.
Whether you’re selling, buying or staying put, here's a roundup of the latest.
Home Equity
One of the bright spots of the 2020 real estate market is the growth in equity homeowners are experiencing across the country. According to the recently released Homeowner Equity Insights Report from CoreLogic, in nearly every state there was a year-over-year first-quarter equity increase, averaging out to a 6.5% overall gain.
Sales prices
The average sale to list price ratio has remained stable at about 96%, which means that sellers are not slashing their prices to sell their homes.
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“Given the surprising resiliency of the housing market in the midst of the pandemic, the outlook for the remainder of the year has been upgraded for both home sales and prices, with home sales to decline by only 11% in 2020 with the median home price projected to increase by 4%”
- Lawrence Yun, Chief Economist, National Association of REALTORS® |
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