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REAL ESTATE UPDATES NOVEMBER 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
The S&P CoreLogic Case-Shiller index of home prices in 20 U.S. cities gained 3.9% in July from a year ago, the biggest advance since 2018. The increase was bigger than the 3.5% advance in the prior month, and it was the largest annual gain since December of 2018.
Home sales in the U.S. surged to a 14-year high of 6 million at an annualized pace in August, according to the National Association of Realtors.
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An unprecedented lack of for-sale homes combined with persistently low mortgage rates have stocked a competition for housing in recent months that will not relent...With mortgage rates poised to remain low in the near future... it appears that upward price pressures should endure into the fall."
-Matthew Speakman, Zillow Economist
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