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Tahoe City, CA 96145

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Historic Real Estate Statistics mark a Competitive Market

Historic Real Estate Statistics mark a Competitive Market

The housing market is seeing historically incomparable competition. Here’s what’s happening:

  • As mortgage rates fall, bidding wars explode nationwide
  • The average 30-yr fixed-rate mortgage fell to 3.03%, the lowest since at least 1971
  • Fewer homes are on the market than nearly any time in the last 20 years
  • National number of homes on the market was down 21.3 year over year
  • We are seeing the lowest house inventory since 2012
  • A Redfin survey reports seeing bidding wars in the following amounts on Redfin sales
    • 56.2% of single-family homes
    • 54% of townhomes
    • 40.5% of condos
  • The same Redfin survey made the following reports showing percentage of competition-facing sales regionally
    • 72.4% in Boston
    • 65.7% in San Diego
    • 63.8% in Salt Lake City
    • The least competitive market is Miami with 32.4% competitive offers

Because we know this is such an interesting market, we welcome you to contact us with any questions you may have. Our team looks forward to the opportunity to fulfill your real estate curiosity.

Read the full Inman article here.

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Amie Quirarte

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