San Antonio-area home sales and prices skyrocket as inventory tightens

Home sales and prices in the San Antonio area soared in September amid pent-up demand, low interest rates and a tight supply of available homes.

Buyers in Bexar and surrounding counties closed on 3,623 homes last month, up about 32 percent from September 2019, the San Antonio Board of Realtors reported Tuesday. Sales year-to-date are up about 8 percent compared with the same period in 2019.

The median price rose about 11 percent to $261,200.

“The significant growth in sales compared to last year shows the housing sector as a possible factor to move the economy forward,” said Kim Bragman, SABOR’s 2020 board chairman. “We are hopeful to see a positive growth of sales for the remainder of the year.”

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Around 68 percent of the homes sold in September were priced between $200,000 and $499,999, compared

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Home sales rise despite low inventory and pandemic

New-home sales also rose sharply in August to their highest level since September 2006. Sales of newly built homes reached an annual rate of 1.01 million in August 2020, 43.2 percent higher than in August 2019, according to the Census Bureau. New-home sales were also up 4.8 percent compared to July 2020.

Low inventory and high prices

While demand for houses is strong despite the coronavirus pandemic, the shortage of homes for sale means that prices are rising rapidly in many markets. The number of existing homes for sale dropped by 18.6 percent in August 2020 compared to August 2019, according to NAR. Inventory of newly built but unsold homes also dropped dramatically by 40 percent compared to August 2019 to the lowest supply since the data has been tracked beginning in 1963.

For the Washington area, the median listing price was up 9.2 percent for the week ending Sept.

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iPad Air nears arrival, Apple Stores receiving inventory for sale

In what is likely a herald of iPad Air sales starting soon, Apple stores have reportedly been receiving large-scale shipments of new devices, and marketing materials.

Bloomberg‘s Mark Gurman tweeted on Friday that he’d learned that shipments of new devices were now arriving at Apple stores and were marked for opening at a later date. He points out that the boxes likely contain the newly announced fourth-generation iPad Air, and that it would be too early for the anticipated “iPhone 12.”

The “iPhone 12” is suspected to be unveiled on October 13, at their recently announced “Hi, Speed.” event. If it were to follow previous events, the new iPhones would be

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The Housing Market Inventory Shrinks While Home Prices Climb

The housing market inventory shrinks while prices climb is the ongoing real estate story around the country. Realtor.com recently looked at the numbers on listings, sales prices, and Days on Market. According to realtor.com. “nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory. As a result, home prices are accelerating at double last year’s pace while homes sell 12 days faster than last year, on average.”

“In a normal year as you reach October that line of buyers has eased. These are not normal times and we are continuing to see that line of buyers increase while some sellers are reluctant to list their properties,” notes realtor.com’s Director of Economic Research Javier Vivas. “Selling your home and moving in a pandemic is impacting sellers from listing

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Home Values Soar Even Higher In August As Inventory Tightens

Competition among buyers drove rapid sales and pushed values up while the rental market softened

– U.S. home values grew to $256,663 in August, a 0.7% increase from July. That’s the largest monthly increase since 2013.

– Low demand continues to push rents lower — typical rent dropped 0.3% from July to $1,771 in August, the biggest monthly decrease since 2017.

– Rapid sales further contracted inventory, which is now 29.4% lower than a year ago.

SEATTLE, Sept. 18, 2020 /PRNewswire/ — Pressure from this summer’s housing inventory shortage caused U.S. home values to rise sharply in August. They are up 0.7% from July to $256,663, the biggest month-over-month increase in nearly seven years, according to the August Zillow® Real Estate Market Report1. Home value growth accelerated last month in 48 of the 50 largest markets and was relatively constant in the other two: Birmingham, Ala. and Richmond

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How 2020 broke the housing market, inventory could actually run out

  • The hottest pandemic purchase is a house, as more and more Americans take advantage of low mortgage rates to attain spacious backyards and more comfortable work-from-home locales.
  • Existing home sales, which have trended upward for the last 3 months since the housing market reopened from shutdown, soared to a 14-year high in August. New home sales are also up.
  • Home prices are soaring, too, recording the highest two-month appreciation between May and July — at 2% — in 30 years of record-keeping.
  • But not enough new houses are being built to keep up with demand, a trend that actually goes back a decade.
  • Homebuying, in all its trendy glory, only projects to get more expensive, if not impossible. If homes keep selling at this rate, Bloomberg estimates the inventory of new homes could actually run out in just a few months.
  • Visit Business Insider’s homepage for more stories.

 

Have you

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Home Values Climb Higher Due To Limited Inventory

The housing inventory shortage this summer drove home values up 0.7% in August from July 2020, the biggest month-over-month increased in nearly seven years, according to Zillow’s Real Estate Market Report for August.

Additionally, the report revealed that home value growth increased last month in 48 out of the 50 largest markets in the U.S. According to Zillow, home values are up 5.1% in August, year-over-year.

One thing the rise in home values shouldn’t do is affect the ability of first-time home buyers to make down payments. While the value increases may be significant, in actual dollars the impact isn’t that painful.

“American home shoppers faced a historic shortage of listings to choose from this summer, and that scarcity is now reflected in rapidly appreciating home values after a sluggish start to the home shopping season this spring,” said Zillow economist Jeff Tucker. “Builders are racing to catch up with

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Portland homes for sale: Prices rise, inventory plunges, both favoring sellers

Despite a roller-coaster stock market, lingering pandemic and uncertainty caused by natural and made disasters, the real estate market continues to connect buyers to sellers.

In August, 3,149 residential properties in Portland metro changed hands, according to the latest report by the local listing service RMLS.

“The drama this past month wasn’t real estate,” says Dustin Miller of Windermere Realty Trust in Lake Oswego. “Somehow real estate still forged ahead for so many who wanted or needed it in the past month.”

The low number of homes for sale continues to plague home shoppers and favor sellers. As a result, the median sale price rose to $449,000, a $4,000 or 0.9% increased from July, according to the RMLS.

Inventory of homes for sale last month barely increased, to 1.3 months, compared to July’s anemic 1.2 months. Basement-level inventory in a state with the largest housing shortage in the nation is

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Prices rise, inventory plunges, both favoring sellers

Despite a roller-coaster stock market, lingering pandemic and uncertainty caused by natural and made disasters, the real estate market continues to connect buyers to sellers.

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In August, 3,149 residential properties in Portland metro changed hands, according to the latest report by the local listing service RMLS.

“The drama this past month wasn’t real estate,” says Dustin Miller of Windermere Realty Trust in Lake Oswego. “Somehow real estate still forged ahead for so many who wanted or needed it in the past month.”

The low number of homes for sale continues to plague home shoppers and favor sellers. As a result, the median sale price rose to $449,000, a $4,000 or 0.9% increased from July, according to the RMLS.

Inventory of homes for sale last month barely increased, to 1.3 months, compared to July’s anemic 1.2 months. Basement-level inventory in a state with the largest housing shortage in the

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Real Estate Professionals Point to Sellers’ Market in Oregon, Florida and New York Due to Low Inventory, Interest Rates

Real Estate professionals from across the United States say that current real estate market conditions point to a seller’s market in most areas.

Across the United States, many Real Estate Brokers say that inventory is low, so now is an ideal time to sell. For buyers, it’s a good time to buy before prices escalate. Seven professionals offer their insights about preparing to buy or invest in real estate in their areas ranging from Oregon, Florida, and New York.

Leslie Purdy, Real Estate Profitability™ Author and Broker Associate at EXP Realty, LLC, in Melbourne, located in Broward County, Florida, said now is the time to prepare for homeownership and real estate investments.

Purdy said, “First, save your money and have at least six months of living expenses so that you won’t be anxious about your safety and security. Second, don’t make any major purchases unless necessary. Third, pay off your

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