National Market Update – What's Up Clarksville

National Market Update

The housing market nationally is picking up. Zillow reports new listings grew 5.9% week-over-week, with the hard hit highest price tier up 8%. New listings are still down annually, but have gained now three weeks in a row.Also growing smaller are the year-over-year declines in purchase mortgage applications. Week-over-week, national purchase mortgage activity has shown gains of 12% and 6% the past two weeks.A new study reveals Google searches for “homes for sale” in 50 metros increased an average of 54% from 2020 lows. Freddie Mac’s chief economist notes, “Today purchase demand is only down 10% from a year ago.” 

Article from Chad Winn of F&M Bank