“Housing Market White Hot After Labor Day,” reports Redfin. Sure looks like it. Here’s data for the four weeks ending Sept. 13:
Nearly half of all homes that went onto the market sold within two weeks.
The ratio of the listed price to sale price hit an all-time high.
The YoY increase in the median price hit an all-time high.
New listings were up 6% YoY, active listings were down 28%—an all-time low.
“There is still a lot of room for more homes for sale to hit the market,” says Taylor Marr, Redfin’s lead economist.
You think? Read the full article at Redfin.