The Median home price increased by 12.9%, inventory is at 1.9 months supply!

<p><strong>Housing construction continued to boom in the final months of 2020 which is welcome news for a housing market that is plagued by low inventory issues. Building permits were up 17.3% year over year and 4.5% month over month. Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace, down from 2.3 months in November and down from the 3.0-month supply recorded in December 2019. Mortgage rates increased across the board last week, with the 30-year fixed rate rising to 2.92% its highest level since November. The 15-year fixed-rate increased to 2.48% for the first time in 7 weeks.</strong></p> --- Send in a voice message: https://anchor.fm/rooparealtor/message