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Experts Project Increase in Home Sales and Median Purchase Price to Continue to February 2021

Redfin CEO Glenn Kelman discusses current increase in home sales in suburban areas of major cities

Home sales have increased by 9.5% just in September, 2020, and the median purchase price nearly increased by 15%. Many professionals working remotely from home are seeking to escape from the metropolitan area and purchasing suburban “vacation homes” to live and work in. Low interest rates are also driving sales up. Redfin predicts the number of listings to increase in November continuing onto January and February, 2021.

Kevin Stankiewicz, Redfin CEO expects ‘absolutely insane’ demand in housing market to last into 2021,
(Oct. 22, 2020).

Tags: housing boom, listings, low interest rates, market trend, Redfin, remote work, sales, suburbs, vacation homes