Home prices clocked their highest year since 2006, amid the global pandemic, or maybe because of it. Per the National Association of Realtors’ monthly survey, the annual rate of current home transactions in December grew to more than six million, seasonally tweaked, up 0.7 percent from November and 22 percent when compared to another year.
It was a powerful end to a year that saw over five million existing homes exchange hands, an increase of 5.6 percent to the highest level since 2006 from 2019. Residential building has also been the largest amount of activity since 2006, while confidence in homebuilders has started to fall over the past pair of months, amid housing inventory levels at record lows.
With over a million units on the market, the number of existing homes for rent struck another record low. Those homes will be sold within just over a month or two at the present sales rate. Seventy percent of the homes sold were listed for under a month back in December.
If you need a hard money loan to purchase homes in Florida, please get in touch with us.
This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on investor resources Miami or Tampa hard money lending, please call 954-816-0388 or fill out our application.