On a national level, home sale prices, year over year, had a strong performance at 9.4%.
Lawrence Yun, NAR’s Chief Economist remarked that demand is stronger due to low mortgage interest rates & rising rents but “ the market is constrained unnecessarily tight lending standards and shrinking inventory supplies, so housing could easily be much stronger without these abnormal frictions”.
Regionally, we are enjoying a balanced market, but again banks continue to have a strangle hold on our housing market as well