Updated: Jul 19
The real estate market continues to change. The market has gone from a rolling boil too hot. There has been a slight cooling, but by no means colds. According to the California Association of Realtors, at the peak of the frenzy in April, 74.3% of homes listed received multiple offers. In August the number of listings getting multiple offers decreased to 58.8% (still a large number) but the trend is evidence of a market cooling.
While real estate prices are not expected to continue with their current year-over-year gains of 17%, the predictions are still for strong growth over the next few years. A recent Zillow survey of 100+ real estate experts and economists estimated that home prices will appreciate 31% through 2025.
And, according to the CoreLogic Single-Family Rent Index, U.S. single-family rent growth increased 8.5% in July 2021--the fastest year-over-year increase in 16.5 years. Increasing rent and home price appreciation are the fundamentals on which Ruthian was founded.
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