One Year Later: U.S. Housing Market Remains Caught in a Lopsided Recovery

by: Lisa Dacres

Jun

Originally published on March 11, 2021, by Janice McDill for Realtor.com.

Since the start of the pandemic home prices have risen 14.3%, new listings are 27% lower, there are 50% fewer homes on the market and homes are selling almost a week faster.

SANTA CLARA, Calif., March 11, 2021 /PRNewswire/ -- Although many people were forced to put activities on hold over the past year, buying a new home was not one of them. The U.S. housing market, buoyed by record-low interest rates, remote work, and Americans' desire for more space, outperformed much of the economy throughout 2020. Today, it remains more lopsided than ever as the gap between buyer demand and supply widens, according to a new report issued today by realtor.com® that examined COVID-19's impact on the U.S. housing market one year after the World Health Organization declared the virus a global pandemic.

Share this post: