News & Blog

From REALTOR® Magazine: Buyers Snatch Up New Listings as Quickly as They’re Available

Feb 23
Sign that says "under contract."
From December 2020 to January of this year, existing-home sales rose 0.6%, up nearly 24% over a year ago, according to a recent report from the National Association of REALTORS®. In all four of the major U.S. regions, we saw double-digit annual gains for home sales in January.
Lawrence Yun, NAR’s chief economist, states, “Home sales continued to ascend in the first month of the year, as buyers quickly snatched up virtually every new listing coming on the market.” The article from NAR also reports that, “Seventy-one percent of homes sold in January were on the market for less than a month.”
While the majority of the economy has been affected negatively by the COVID-19 pandemic, the housing sector has remained stable, with sales remaining high and home prices continuing to rise, adding equity to home sellers.
Yun states, “Home sales are continuing to play a part in propping up the economy…With additional stimulus likely to pass and several vaccines now available, the housing outlook looks solid for this year.” He predicts that employment will increase, spurring even more home buying in the coming future.
To learn more about NAR’s existing-home sales and the sales data for January, visit the original posted article from REALTOR® Magazine here.

At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.