Intense Demand and Low Mortgage Rates Drive Home Values to Record Highs
Home values continue to rise at a historic monthly pace, growing 1.1% from December to January
- Zillow economists predict 7 million home sales this year, nearly 25% more than in 2020
- Phoenix is booming, recording the highest annual growth in both home values (17.1%) and typical rent (8.4%) among the nation s largest metros
- Home values rose 9.1% from a year ago, the fastest pace of annual appreciation since 2006
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SEATTLE, Feb. 19, 2021 /PRNewswire/ Extreme demand driven by exceptionally low mortgage rates, demographic pressures and pandemic trends kept the housing market boiling as we moved into 2021, according to
/PRNewswire/ Zillow® is unveiling technology today that will change the way home shoppers tour a home remotely. The new 3D Home® interactive floor plans.
Zillow Group to Acquire ShowingTime, the Industry Leader in Home Touring Technology
ShowingTime s technology and services simplify online tour scheduling for agents, buyers and sellers
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SEATTLE, Feb. 10, 2021 /PRNewswire/ Zillow Group has entered into a definitive agreement to acquire ShowingTime.com, Inc., an online scheduling platform for home showings, for $500 million. Touring is one of the most important steps in the home shopping and selling journey, and ShowingTime s technology has streamlined and dramatically improved the touring experience. They are an industry leader, and Zillow Group will continue to invest in ShowingTime and increase its engagement among agents and partners.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
How Midwest Cities are Busting the Urban Exodus Myth
February 4, 2021 GMT
SEATTLE, Feb. 4, 2021 /PRNewswire/ Mid-sized markets especially those across the Midwest are making up for softness in New York and San Francisco, keeping the for-sale market in urban areas on pace with or slightly ahead of red-hot suburban areas, a new Zillow analysis shows.[i]
Housing demand is on fire as the explosion of remote work has caused many to reimagine what and where they want their home to be. That demand is supercharging home values in affordable areas of the country as buyers look for homes that offer more room to spread out. In expensive coastal markets, that typically means moving farther from the downtown core into the suburbs. But for much of the country, the suburbs have long been more expensive, and buyers are now searching for homes in more urban areas.