Months’ supply of inventory was down 21.4 percent since last year at 1.1 months. That’s well below the 5 months that’s considered balanced. Percent of List Price Received at Sale remained at 100.7 percent since last year.
Months’ supply of inventory was down 23.5 percent to 1.3 months. A balanced market is about 5-6 months of supply. 1.3 months of supply indicates a pretty extreme sellers’ market.
November 10, 2021
Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week. These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand will remain strong into next year. However, affordability pressures continue to be an ongoing concern for homebuyers.
Information provided by Freddie Mac.
There are some signs of a potential market shift, even though both new and active listings are down compared to last year and sales are up compared to 2019.
In new construction, home builders continue to struggle to meet buyer demand, as housing starts nationwide dropped 7% last month, according to the Commerce Department.
The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition.
Home prices are still on the increase and that is not likely to change during the summer months. The Median Sales Price increased 16.1 percent to $342,500 for the month.
April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price.
WordPress’ growing market share is fueling a continual influx of new users but also a higher level of scrutiny around advertising. Companies with large advertising budgets target this segment of consumers, because many who are new to WordPress need help hosting and creating their websites.
Last week Bluehost pulled an advertisement that misused WordPress’s trademark. The company’s PR department has not responded to our request for comment, but onlookers have noted that this isn’t the first time Bluehost has floated questionable ads. Multiple Facebook campaigns, dating back several years, include trademark abuses, as well as active campaigns on YouTube in various markets.
In another advertising-related matter, Elementor, a popular page builder used by more than five million websites, has caught some attention recently for its Google ads that target “full-site editing.” Birgit Pauli-Haack, the publisher of the Gutenberg Times, pointed out the ads last week in the Post Status Slack community.