{"id":18460,"date":"2021-02-08T12:16:21","date_gmt":"2021-02-08T12:16:21","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18460"},"modified":"2021-02-08T12:16:21","modified_gmt":"2021-02-08T12:16:21","slug":"spring-buyers-must-be-ready-to-act","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/spring-buyers-must-be-ready-to-act\/","title":{"rendered":"Spring Buyers Must Be Ready to Act"},"content":{"rendered":"
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This spring will likely be another fiercely competitive one for home buyers. Real estate professionals should prepare their house hunters for record low inventories and rapidly rising home prices.<\/p>\n

\u201cDemand for housing was already strong coming into the year and we don\u2019t see that slowing down with millennials reaching prime home-buying age, and many remote workers still in the market for more space,\u201d says Danielle Hale, realtor.com\u00ae\u2019s chief economist. \u201cAt the same time, sellers failed to materialize in January, which has pushed the number of homes for sale to new lows and suggests that our new normal of rising prices and brisk sales is here to stay at least through the first half of the year. Those thinking of getting into the market this spring should brace themselves for a competitive season, especially in the market for existing homes.\u201d<\/p>\n

If January is in any indication of how the spring market will play out, home shoppers will need to be ready to act quickly and have their financing in order. There will be fewer choices and likely continued high buyer competition. The number of homes for sale nationwide in January plunged 42.6% year-over-year, a new low, according to realtor.com\u00ae\u2019s records dating back to 2021.<\/p>\n

New listings in the 50 largest U.S. metros were down by the largest amounts in Cleveland; Jacksonville, Fla.; and Memphis, Tenn., which posted drops at 37.1%, 36.9%, and 32.6%, respectively, according to realtor.com\u00ae\u2019s January Housing Trends Report.<\/p>\n

Median national home listing prices increased by 15.4% compared to a year earlier, reaching $346,000 in January. The nation\u2019s median listing price per square foot grew by 17.5% in January compared to a year ago, realtor.com\u00ae\u2019s report shows. Median list prices posted the highest annual growth in January in Austin, Texas (up 30.2%); Rochester, N.Y. (up 25.9%); and Los Angeles (up 22.4%).<\/p>\n

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realtor.com\u00ae<\/a><\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

This spring will likely be another fiercely competitive one for home buyers. Real estate professionals should prepare their house hunters for record low inventories and rapidly rising home prices. \u201cDemand for housing was already strong coming into the year and we don\u2019t see that slowing down with millennials reaching prime home-buying age, and many remote … <\/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-18460","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":"\nSpring Buyers Must Be Ready to Act - 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\/spring-buyers-must-be-ready-to-act\/\" \/>\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\\\/spring-buyers-must-be-ready-to-act\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/spring-buyers-must-be-ready-to-act\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Spring Buyers Must Be Ready to Act\",\"datePublished\":\"2021-02-08T12:16:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/spring-buyers-must-be-ready-to-act\\\/\"},\"wordCount\":320,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/spring-buyers-must-be-ready-to-act\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/2.4.2021_realtor.com_.png?itok=y3P4NRP1\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/spring-buyers-must-be-ready-to-act\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/spring-buyers-must-be-ready-to-act\\\/\",\"name\":\"Spring Buyers Must Be Ready to Act - 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