Inman Connect
This is the third installment of a new Inman series digging into, and explaining, routine real estate economic metrics and how they’re used to illuminate the current housing market and inventory crises. Don’t miss part 1, The Inman handbook on pending home sales, and part 2, The Inman handbook on new-home sales.
While pending-home sales and new-home sales help agents and consumers understand where the market is going, existing-home sales provide valuable insight into what’s happening currently in terms of price growth, supply and demand.
After record-high existing-home sales throughout 2020, sales have hit a three-month slump that has sparked concern among real estate professionals about buyers’ resilience in the midst of rock-bottom inventory, skyrocketing home price growth and bidding wars.