Going into 2020, Arkansas already had a low inventory of homes. Current median listing price of homes in Arkansas: $179,900 (7.7% less than 2020, 1.1% greater than 2019) Average days homes are on the market: 76 (20,985 homes currently) Median homeowner cost: $1,094 (with mortgage), $348 (without mortgage) Bedrooms: 2.2% no bedrooms, 7.3% one bedroom, 26.0% two bedrooms, 49.0% three bedrooms, 13.1% four bedrooms, 2.4% five bedrooms
Vacant housing units: 225,512 (1.9% homeowner vacancy rate, 7.4% rental vacancy rate) Experts forecast that home prices and sales will continue to go up in 2021, despite the possibility of heightened interest rates and lending institutions requiring higher credit scores in a volatile economy.
Home sales in the Phoenix-Mesa-Scottsdale area of Arizona have risen steadily in 2020 due to high demand and low interest rates. Current median listing price of homes in Arizona: $284,900 (9.8% less than 2020, 5.5% greater than 2019)
Average days homes are on the market: 62 (118,639 homes currently) Median homeowner cost: $1,457 (with mortgage), $421 (without mortgage) Bedrooms: 2.9% no bedrooms, 11.3% one bedroom, 26.6% two bedrooms, 36.9% three bedrooms, 18.0% four bedrooms, 4.2% five bedrooms Vacant housing units: 405,607 (1.5% homeowner vacancy rate, 5.3% rental vacancy rate) Read on to see how your own state's housing market has fared over the past year. Until then, buyers and sellers can benefit from the current real estate markets across the country. Time will tell if the end of this program will land thousands of homes on the market in 2021. The moratorium helps those who are unable to pay their mortgages due to the pandemic, allowing for deferment or reduction in mortgage payments. These stats cover what types of homes exist in every state, how many people are owning or renting homes, the value of homes, and how many homes have been on the market over the past couple of months (it's important to note that some of this data is constantly changing due to the pandemic).Īs we move further into 2021, the Federal Housing Administration (FHA) has extended its eviction and foreclosure moratorium once again, this time until the end of February. Census Bureau's 2019 American Community Survey 1-Year Estimates (released in December 2020) and its own 2021 internal data on current housing market trends to compile a list of statistics that show what the housing market looks like in every state. But how long will this housing boom last, and which states are feeling its effects the most? Out-of-towners and a lack of new inventory due to a slowdown in new construction led to more competition for less homes, driving up prices and causing bidding wars across the U.S. Because of this, sleepy, rural towns suddenly got an influx of out-of-state buyers, many of whom were ready to purchase homes sight unseen and with cash in hand. Without the need to commute, small towns featuring larger homes for less money were suddenly the hot-and safer-place for prospective homebuyers. All of these factors gave rise to something called "Zoom Towns" in 2020.
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