{"id":18390,"date":"2021-01-21T14:27:15","date_gmt":"2021-01-21T14:27:15","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18390"},"modified":"2021-01-21T14:27:15","modified_gmt":"2021-01-21T14:27:15","slug":"housing-market-boom","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/housing-market-boom\/","title":{"rendered":"Housing Market Boom"},"content":{"rendered":"

Housing Market Boom<\/h1>\n
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Buyers beware: It\u2019s a seller\u2019s market and homeowners are holding firm on the price. More than half\u2014or 52%–of about 1,000 real estate professionals recently surveyed believe the biggest challenge that home sellers will face in 2021 is the temptation to overprice their homes due to the hot market conditions.<\/p>\n

The homebuying frenzy since the pandemic, mixed with a low inventory of homes for sale, has placed sellers in the driver\u2019s seat. Home prices have been rising by double-digit percentages annually.<\/p>\n

HomeLight\u2019s Top Agent Insights report, conducted in the fourth quarter of 2020, is an online poll reflecting more than 1,000 real estate professionals\u2019 responses nationwide.<\/p>\n

Nearly 15% of real estate pros surveyed also said they were concerned that bidding wars will drive more offers above appraised values in 2021.<\/p>\n

Bidding wars remain high in many markets, an unseasonable trend for the housing industry. In December 2020, nearly half of real estate professionals with the brokerage Redfin reported facing a bidding war in submitting offers for their clients.<\/p>\n

\u201cThe housing market is unseasonably hot\u2014it\u2019s behaving like it normally does in the spring, with plenty of demand from home buyers,\u201d says Daryl Fairweather, Redfin\u2019s chief economist. \u201cTypically, the vast majority of homes for sale in December are homes that have been sitting on the market because they\u2019re overpriced or there\u2019s a problem with the property. This December, with so many Americans moving, scores of desirable homes hit the market\u2014but not enough to satisfy insatiable demand from homebuyers. The result? Fierce bidding wars.\u201d<\/p>\n

Redfin\u2019s survey showed bidding wars were most prevalent in the Salt Lake City metro (75.6% of Redfin offers faced competition there), followed by San Diego (at 74.5%); San Francisco\/San Jose, Calif. (67.4%); Seattle (65.3%); and Denver (58.4).<\/p>\n

Meanwhile, the biggest challenges likely to face home buyers in 2021 are the\u00a0lack of housing options due to low inventories and the inability to find a home they like; 51.4% of agents expressed this as the chief concern among their clients. Nearly 19% of real estate pros also were concerned that their buyer clients will continue to lose out on multiple homes due to bidding wars. Eleven percent of agents also clients were challenged to find an affordable home due to rapid price growth.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\u201cTop Agent Insights Q4 2020 Report<\/a>,\u201d HomeLight (2021) and \u201cHalf of Redfin Home Offers Faced Bidding Wars in December as Housing Market Defied Holiday Slump<\/a>,\u201d Redfin (Jan. 15, 2021)<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Housing Market Boom Buyers beware: It\u2019s a seller\u2019s market and homeowners are holding firm on the price. More than half\u2014or 52%–of about 1,000 real estate professionals recently surveyed believe the biggest challenge that home sellers will face in 2021 is the temptation to overprice their homes due to the hot market conditions. The homebuying frenzy … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18390","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHousing Market Boom - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/housing-market-boom\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-market-boom\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-market-boom\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Housing Market Boom\",\"datePublished\":\"2021-01-21T14:27:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-market-boom\\\/\"},\"wordCount\":402,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-market-boom\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-market-boom\\\/\",\"name\":\"Housing Market Boom - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"datePublished\":\"2021-01-21T14:27:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-market-boom\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-market-boom\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-market-boom\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Housing Market Boom\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\",\"name\":\"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"description\":\"Properties and Real Estate for Sale\",\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"caption\":\"admin\"},\"logo\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\"},\"description\":\"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. 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