WEEKLY REPORT
The latest news and updates from Longleaf Pine REALTORS®
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LPR® LEADERS IN RALEIGH FOR LEGISLATIVE DAYS FROM LEFT TO RIGHT AMANDA MARTIN 2021 PRESIDENT-ELECT, JIMMY TOWNSEND, DAVID SATTELMEYER 2021 PRESIDENT, ANGIE HEDGEPETH, AND MARK DOW LEGISLATIVE CHAIR |
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Virtually Every Metro Area Experienced Home Prices Rise in the First Quarter of 2021
by Quinton Simmons
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Nearly every metro area tracked by the National Association of Realtors® — 99% — recorded year-over-year price increases in the first quarter of 2021, according to the latest quarterly report released by NAR.
The 11 metro areas with the highest price increases saw median sales prices ranging from the $100,000s to $600,000s. Those cities include: Kingston, N.Y. (35.5%; $303,100); Bridgeport-Stamford-Norwalk, Conn. (34.3%; $580,400); Atlantic City-Hammonton, N.J. (34.0%; $277,200); Barnstable Town, Mass. (33.1%; $567,600); Boise City-Nampa, Idaho (32.8%; $422,600); Sherman-Denison, Texas (29.8%; $234,800); Elmira, N.Y. (29.1%; $126,900);
Austin-Round Rock, Texas (28.2%; $437,900); Youngstown-Warren-Boardman, Ohio-Pa. (27.7%; $119,500); Decatur, Ill. (27.5%; $102,400); and Glens Falls, N.Y. (27.5%; $214,600).
Some of the changes in median home price, especially in small cities, were dependent on the
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type of homes sold during Q1 2021; not all homes saw large appreciations in price.
"Significant price increases throughout the country simply illustrate strong demand and record-low housing supply," said Lawrence Yun, NAR chief economist. "The record-high home prices are happening across nearly all markets, big and small, even in those metros that have long been considered off-the-radar in prior years for many home seekers."
The overwhelming majority of metros experienced strong price increases, with 89% (163 metro areas out of 183) registering double-digit price growth.1 For comparison, 25% of metro areas (46 out of 181) saw such growth in 2020's first quarter when housing inventory was at a healthier level of 3.3 months, which better matched the pace of monthly demand.
Although home sellers have benefited from sharp price jumps, the situation has of course presented challenges for buyers.
"The sudden price appreciation is impacting affordability, especially among first-time homebuyers," said Yun. "With low inventory already impacting the market, added skyrocketing costs have left many families facing the reality of being priced out entirely."
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MLS Marketplace is Coming: Register for Training
by Debbie McFayden, MLS Director
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On Thursday, May 20th at 10:00 am join a training session for our newest
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member benefit. Marketplace allows you to manage and recommend your own trusted providers for mortgages, insurance, and home services while also offering a simple and safe way for your clients to compare options. Marketplace helps clients connect to providers for all their homeownership needs through one site – avoiding what can be an overwhelming experience online. Register here. After registering, you will receive a confirmation email containing information about joining the webinar.
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Texting Has Officially Been Added to MLS
by Debbie McFayden, MLS Director
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This will allow Agents to send Auto Listing Emails (recurring) and Direct Listing emails (one-time send) to Consumers via text, as well as email. Texting in Matrix enables Consumers to receive new and updated listings in OneHome from their Agents on their phones – anywhere, anytime! The links shared via text bring the Consumer directly to the OneHome portal to view the associated listings.
Check out the new texting feature in OneHome today!
Register for training on May 18th Here
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Upcoming Events to Attend |
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Registration Now Open, LPR® Members Free, Each Registrant will be entered into a Prize Raffle |
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Registration will open after Memorial Day, LPR® Members Free and Guests $25 |
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As a thank you for helping save lives, all blood donors will receive a Free OneBlood T-Shirt and a $20 eGift card!*
Keller Williams - Fayetteville Red Day
05/13/2021
09:00 AM – 02:30 PM
639 Executive Place
Fayetteville, NC 28305
Schedule your appointment:
Plus, all donors will receive a wellness checkup**, including:
COVID-19 Antibody Test • Blood Pressure • Pulse • Temperature • Iron Count • Cholesterol Screening
For more information please contact Gary Brant (R10-GNB2) at gary.brant@oneblood.org. If you have never donated blood before or if it has been a while, NOW is the time to step up and donate. We REALLY need your help.
Please make your appointment ASAP!
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Court Strikes Down Eviction Ban
by NAR®
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U.S. District Court Judge Dabney L. Friedrich of the District of Columbia struck down a nationwide eviction moratorium Wednesday, calling it unlawful. Friedrich's ruling applies nationwide.
The eviction ban was put in place last year by the Trump administration using public health powers granted to the Centers for Disease Control and Prevention during health emergencies.
The ban was most recently extended by President Biden through the end of June.
In her 20-page ruling, Friedrich said, “It is the role of the political branches, and not the courts, to assess the merits of policy measures designed to combat the spread of disease, even during a global pandemic. The question for the Court is a narrow one: Does the Public Health Service Act grant the CDC the legal authority to impose a nationwide eviction moratorium? It does not.”
The Georgia and Alabama Association of REALTORS®, two housing providers, and their property management companies, filed the suit in defense of mom-and-pop property owners around the country struggling to pay bills without rental income for more than a year.
NAR—which helped secure nearly $50 billion in rental assistance provided by Congress since December to help tenants pay their bills and provide relief to housing providers who have lost income—supported the lawsuit, saying the ban was no longer needed.
“NAR has always maintained that the best solution for all parties was rental assistance to cover the rent, taxes, and utility bills for tenants struggling during the pandemic,” says NAR President Charlie Oppler. “This decision prevents two crises—one for tenants, and one for mom-and-pop housing providers who do not have a reprieve from their bills. With rental assistance secured, the economy growing, and unemployment rates falling, there is no need to continue a blanket, nationwide eviction ban. With this safety net firmly in place, the market needs a return to normalcy and stability.”
Oppler adds that “our attention now should turn to the swift and efficient implementation of rental assistance.”
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