According to the CoreLogic Economic Outlook for July, 18 percent of homes in the nation’s largest metros sold in less than 30 days, the highest share in 17 years. Also, 23 percent of homes sold for above list price, the highest rate since 2000.
Low unemployment rates, robust consumer confidence, and a rising number of Millennials who are considering homeownership are among the reasons for the sales boom.
These patterns are not uniform across the U.S. but vary depending on the strength of local economies and the demand-and-supply balance across neighborhoods.
Advertisement
Related Stories
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
Sustainability
Which Green Building Practices Are Home Builders Using Most?
A recent report reveals which green-building practices are most popular among single-family home builders and remodelers
Market Data + Trends
Single-Family Permits Show Increase in February
Year-to-date ending in February, single-family permits were up in all four regions of the U.S.
