According to a new report by Redfin during the 4-week period ending on December 20, the median home sale price has increased 14% year over year to $320, 714. The same report also shows the pending home sales also went up 34% during this same period of time.
“Going into the new year, it will truly be out with the old, because there will be very few homes from 2020 left on the market,” said Redfin Chief Economist Daryl Fairweather in the report. ““So those who resolve to buy a home in 2021 may need to wait with bated breath for sellers to list their homes. Redfin’s forecasts suggest the new year will bring many more new listings, but they will likely be snatched up quickly. So if you are a homebuyer, now is a good time to get pre-approved for a mortgage, and come up with your wishlist, so you can act quickly when your dream home hits the market.”3