{"id":3511,"date":"2021-04-27T05:00:51","date_gmt":"2021-04-27T10:00:51","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/will-the-housing-market-maintain-its-momentum\/"},"modified":"2022-11-16T14:29:35","modified_gmt":"2022-11-16T20:29:35","slug":"will-the-housing-market-maintain-its-momentum","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/will-the-housing-market-maintain-its-momentum\/","title":{"rendered":"Will the Housing Market Maintain Its Momentum?"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2021\/04\/26121805\/20210427-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Will the Housing Market Maintain Its Momentum? | Simplifying The Market\" loading=\"lazy\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>Last week\u2019s Existing Home Sales Report from the <em>National Association of Realtors<\/em> (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed \u2013 <strong>there aren\u2019t enough homes to buy<\/strong>. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.<span id=\"more-44268\"><\/span><\/p>\n<p>Lawrence Yun, <em>Chief Economist <\/em>at NAR, explains in the report:<\/p>\n<blockquote>\n<p><em>&#8220;The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.&#8221;<\/em><\/p>\n<\/blockquote>\n<p>Yun\u2019s insight was supported the next day when the <em>Census Bureau<\/em> released its <a href=\"https:\/\/www.census.gov\/construction\/nrs\/pdf\/newressales.pdf\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Monthly New Residential Sales Report<\/a>. It shows that <strong>newly constructed home sales are up 20.7% over the previous month.<\/strong><\/p>\n<p>Buyer demand remains strong. With more of the adult population becoming vaccinated and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months.<\/p>\n<h4><strong>What will this mean for home sales going forward?<\/strong><\/h4>\n<p><a href=\"https:\/\/www.fanniemae.com\/media\/38961\/display\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>Fannie Mae<\/em><\/a>, <a href=\"http:\/\/www.freddiemac.com\/research\/forecast\/20210414_quarterly_economic_forecast.page\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>Freddie Mac<\/em><\/a>, and the <a href=\"https:\/\/www.mba.org\/news-research-and-resources\/research-and-economics\/forecasts-and-commentary\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>Mortgage Bankers Association<\/em><\/a> (MBA) have all forecasted that total home sales (existing homes and new construction) will continue their momentum both this year and next. Here\u2019s a graph showing those projections:<a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2021\/04\/26121806\/20210427-MEM-Eng-1.png?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img data-recalc-dims=\"1\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-44270\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2021\/04\/26121806\/20210427-MEM-Eng-1.png?resize=650%2C488&#038;ssl=1\" alt=\"Will the Housing Market Maintain Its Momentum? | Simplifying The Market\" width=\"650\" height=\"488\" \/><\/a><\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Living through a pandemic has caused many to re-evaluate the importance of a home and the value of homeownership. The residential real estate market will benefit from both as we move forward.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last week\u2019s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3512,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-3511","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Will the Housing Market Maintain Its Momentum?&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/will-the-housing-market-maintain-its-momentum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will the Housing Market Maintain Its Momentum?&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Last week\u2019s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. 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