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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Will the Housing Market Maintain Its Momentum?

Will the Housing Market Maintain Its Momentum? | Simplifying The Market

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

Lawrence Yun, Chief Economist at NAR, explains in the report:

“The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.”

Yun’s insight was supported the next day when the Census Bureau released its Monthly New Residential Sales Report. It shows that newly constructed home sales are up 20.7% over the previous month.

Buyer demand remains strong. With more of the adult population becoming vaccinated and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months.

What will this mean for home sales going forward?

Fannie Mae, Freddie Mac, and the Mortgage Bankers Association (MBA) have all forecasted that total home sales (existing homes and new construction) will continue their momentum both this year and next. Here’s a graph showing those projections:Will the Housing Market Maintain Its Momentum? | Simplifying The Market

Bottom Line

Living through a pandemic has caused many to re-evaluate the importance of a home and the value of homeownership. The residential real estate market will benefit from both as we move forward.


GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
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$799,000
3
BEDS
2
TOTAL BATHS
1,841
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580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
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Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
27 N Halifax Avenue Daytona Beach FL 32118
New Listing - 7 hours on site
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$899,000
4
BEDS
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3,636
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27 N Halifax Avenue Daytona Beach, FL 32118
Single Family Residence For Sale
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Moore acres was constructed of stone and brick in 1913 high above the banks of the Halifax River and is adorned with rich hardwood interior appointments throughout the gracious living spaces. Very little has changed over the last 112 years and the ho

Listing courtesy of Ryan Adams of Adams, Cameron & Co., Realtors
21 Pine Valley Circle Ormond Beach FL 32174
Open House Sat, Jul 5, 11 AM
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$569,000
5
BEDS
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TOTAL BATHS
3,456
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21 Pine Valley Circle Ormond Beach, FL 32174
Single Family Residence For Sale
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IN-LAW SPACE GALORE! Welcome to your dream home nestled in the highly sought-after Tomoka Oaks Subdivision! This residence features a thoughtful split floor plan with four spacious bedrooms and 2.5 baths conveniently located on the main level. The he

Listing courtesy of Peter Hardy of Oceans Luxury Realty Full Service LLC
2144 Ridge Drive Drive Winter Park FL 32792
New Listing - 16 hours on site
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$810,000
4
BEDS
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3,020
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2144 Ridge Drive Drive Winter Park, FL 32792
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CURRENTLY REMODELLING!! Welcome to 2144 Ridge Drive, a beautifully updated home nestled in the heart of Winter Park, Orlando.This spacious 4 bedroom, 3 bathroom residence offers a bright, open floor plan perfect for both relaxing and entertaining. Th

Listing courtesy of Sahil Rama of EXP Realty LLC

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Related posts:

  1. 3 Signs the Housing Market Is on the Rebound
  2. Today’s Expert Insight on the Housing Market
  3. New Homes Coming to the Housing Market This Year
  4. Housing Market on Track to Beat Last Year’s Success

Posted in: Blog, For Buyers, Housing Market Updates, New Construction

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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