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REAL ESTATE UPDATES SEPTEMBER 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.
HOUSING INSIGHTS
Contract signings rose nearly 18% in the past four weeks ended August 16 from one year ago, according to NAR. Homebuying is being buoyed by low mortgage rates as the 30-year fixed mortgage rates averaged 2.96% the week of Aug 14.
For the first time this year, new listings in the past four weeks were at a level higher than one year ago, up by 4%.
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With new contract signings outpacing new listings, properties were typically sold within 19 days in the past four weeks through August 16, compared to 31 days one year ago.
-NAR.com
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