REAL ESTATE UPDATES


		NewPanda REAL ESTATE UPDATE

REAL ESTATE UPDATES

Here's the latest news and headlines on property investments, housing, mortgages, refinancing, and real estate markets.

February 2024 brought 4.38 million in sales, a median sales price of $384,500, and 2.9 months of inventory. The median sales price is up 5.7% year-over-year, and inventory was up 0.3 months from February 2023.


	KEY HIGHLIGHTS

	•	All-cash buyers jumped to the highest share since 2014 at 33%

	•	First-time buyers responsible for 26% of sales

	•	Median sales price up 5.7%

		Housing inventory could grow 40% this year
		Inventory has been rising for two years just as mortgage rates have been rising for two years. By July we could have 40% more inventory.

"Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices."

- Lawrence Yun, NAR Chief Economist

Questions on sales - nationwide or right here in our neighborhood?

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		DID YOU KNOW?


	Iowa’s Field of Dreams is real

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