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Housing Stays Hot as Temperatures Cool

Temperatures might be cooling, but the housing market isn’t. In an unseasonable trend, according to the latest data preview by the market has remained at summer-time levels, with homes selling quickly at higher prices. Typically, fall has shown less listings and more bargains for buyers, but the market this year isn’t ready to cool off.

For bargain hunters, this is not your month: this season’s trend is of less homes and higher prices. However, this trend also brings with it more listings than usual for this time of year, showing a bright spot for buyers.

Chief economist Danielle Hale at remarked “We’re seeing a sizzlingly competitive housing market at a time when things are usually cooling off for the fall…With not enough homes on the market to meet the high demand, homes are selling 8 percent more quickly than a year ago even though prices are as high as they’ve ever been.”