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REAL ESTATE UPDATES FEBRUARY 2022
Here's the latest news and headlines on property investments, housing, mortgages, refinancing, and real estate markets.
First-time buyers were responsible for 26% of sales in December. Individual investors purchased 15% of homes, while all-cash sales accounted for 24% of transactions. Distressed sales represented less than 1% of sales, and properties typically remained on the market for 18 days.
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"We saw inventory numbers hit an all-time low in December... Home builders have already made strides in 2022 to increase supply, but reversing pats like the ones we've seen recently will take years to correct."
- Lawrence Yun, NAR's chief economist
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