The Greater Boston housing market is hot right now and both prices and sales are rising. Sales of single-family homes and condominiums rebounded in September across the Greater Boston area, climbing for the first time in at least six months on a year-over-year basis. There were record sales in September. The previous high for September sales occurred five years ago when 1,218 single-family homes were sold in September 2015,

That's according to the latest data from the Greater Boston Association of Realtors. The demand for single-family homes is high. Sales of single-family homes rose on an annual basis by 32.3 percent last month, climbing from 1,064 homes sold in September 2019 to 1,408 this September to set a new record for sales volume during the month of September.

Despite an increase of 38.2% year-over-year in pending sales in September, active listings dropped by -29.4%. It is one of the factors that affect overall sales dollar volume while simultaneously creating a very competitive and tight market which keeps the home prices from plunging. The biggest challenge holding back sales is the lack of enough inventory to sell with months of supply dropping to 1.5 months.

Sellers still hold the upper hand due to the imbalance between supply and demand. At the current pace of buying, inventory would run out in just six weeks. On the other hand, the Boston home buyers are benefitting from record-low mortgage rates.

There was a sigh of relief for them as there was a spike in new listings that came on the market last month. Compared to August, the new listings of single-family homes saw a jump of 20.6%. As more sellers entered the market, the total listings also increased by 15.2% from last month. However, these figures are still lagging behind last year.

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The buyer demand refuses to die down in the Phoenix housing market. Despite the large increase in new listings in September, the available supply of properties is not increasing. It was quite unusual for the number of listings under contract to be higher on October 1 than September 1, but this what the pandemic has done in 2020. The Greater Phoenix real estate market is on fire. The fall season has become as busy for home buying as the summer season.

It is now clear that the pandemic could only pause sales, which in turn created a huge pent up demand. As we saw Arizona real estate market thriving & becoming sizzling hot in the past couple of years, even the rise in mortgage rates was believed not to affect it. Now record low-interest rates are helping boost sales, and it's still a strong seller's market.

The slump in year-over-year sales in April and May impacted the numbers, but the anomaly will most likely be fully erased in October, according to ARMLS's forecast. The Phoenix real estate market has not only recovered after a slump due to COVID-19 but the demand has reached new heights. September recorded the highest median sales price ever reported, the highest average sales price ever reported and the highest sales volume for any September in the past.

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We will discuss the latest Austin real estate market trends and forecast for 2021.  The Austin housing market has seen a spike in home sales in the last few months. The latest report from the Austin Board of Realtors showcases the market's resilience amid the COVID-19 pandemic. Demand for homes continues to be very strong even towards the end of the fall breaking sales records month after month.

Residential sales in the Austin metro area soared 31.5% compared to September 2019, with 3,892 single-family homes, townhouses, and condominiums changing hands. Pending sales jumped 28.2%, signaling that October could be another strong month for sales. Austin home sales mirrored the metro area.

Housing inventory decreased to a supply of just 1.2 months, which means that’s how long it would take the deplete the inventory at the current sales pace. Within the city of Austin, sales volume in September was up 20.7%, with 1,248 sales recorded. A low supply of housing drove the median price up 8.7%, to $415,500 year-over-year.

It is a good time for buyers and investors who want to invest in Austin especially with interest rates being as low as they are right now. The main concern is the critical lack of inventory which can make it increasingly difficult for buyers to find homes that suit their requirements. This situation could also drag down sales in the remainder of 2020 while pushing the prices higher up.

To determine the best local real-estate markets in the U.S., WalletHub compared 300 cities of varying sizes across 24 key indicators of housing-market attractiveness and economic strength. They looked at factors like a median home-price appreciation to home sales turnover rate to job growth.

The city of Austin's real estate market came in at number 7 overall, and 3rd among large cities. Boise was found to be the best market in the nation, followed by Seattle, Frisco, Nashville, and Gilbert in the top five.

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