Spring is in the air and we couldn’t be more ready here in our beautiful coastal region of Oregon! “Spring showers bring May flowers” and Brookings is no exception! Ready to plant and bloom in an area where nature and beauty abounds? Great, lets talk numbers first.
It’s hard to believe that it has been roughly one year when the pandemic put the housing market on hold for several months last spring. The housing market bounced back in 2020 much faster than other sectors of the economy and has sustained that growth and pace into 2021.
Back in March of last year, the real estate market looked to be headed into a steep decline due to widespread stay-home orders. Since then, homebuyers, supported by low-interest rates, have kept the US housing market afloat. The pandemic has certainly affected every sector, but residential real estate has been very resilient. The real estate sector has also been highly supportive of the economic recovery of the country.
It has emerged as a pillar of support for the economy. 2020 was a record-breaking year for the US housing market. The typical U.S. home was worth $266,104 in December, up 8.4% (or $20,587) from a year ago. A total of 5.64 million homes were sold in 2020, up 5.6% from 2019 and the most since before the Great Recession, according to Lawrence Yun, NAR’s chief economist. Sales also rose 0.7% from November and 22.2% year over year. Existing home sales reached the highest level in 13 years.
The housing market has been struggling to keep up with the demand for the past decade. In the middle of the pandemic, it has seen a boom in demand. The housing market in 2021 has seen buyers hyperactive, driving up home prices by double-digits and causing homes to sell quickly in competitive market conditions. Currently, there is an extremely tight supply of homes on the market, the lowest on record since the turn of the century.
No matter where you find yourself in the home-buying or home-selling flow, know that we are highly experienced agents here on the gorgeous Oregon coast and have the 411 on all-things real estate. Let us help you bloom where you’re planted or better yet, bloom where you want to be planted!
We are here when you’re ready to sell, buy, relocate, invest or relax! Whatever your real estate needs, our team of seasoned realtors is here with open arms to make the transition smooth and full of our love of the coast we call home.
Marie Curtis, Owner/Principal Broker
Licensed in the State of Oregon
RE/MAX Coast and Country
My Goals is to meet your Goals!
Making BIG MOVES together!
Committed to Results!
CERTIFIED LUXURY HOME MARKETING SPECIALIST®
MILLION DOLLAR GUILD® recognition.
RE/MAX Coast and Country – RE/MAX INTERNATIONAL
703 Chetco Ave
Brookings, Oregon 97415
Office: 541-40-REMAX x112 (Ask for Marie)