{"id":1048674,"date":"2021-11-23T14:59:25","date_gmt":"2021-11-23T19:59:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1048674"},"modified":"2021-11-23T14:59:32","modified_gmt":"2021-11-23T19:59:32","slug":"real-estate-ceo-says-housing-market-will-remain-heated","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/real-estate-ceo-says-housing-market-will-remain-heated\/","title":{"rendered":"Real Estate CEO Says Housing Market Will Remain Heated"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freal-estate-ceo-says-housing-market-will-remain-heated%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1048674&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Century 21 chief executive Michael Miedler said that the American real estate market will continue to be heated.<\/p>\n<p>During an interview with <a href=\"https:\/\/www.foxbusiness.com\/real-estate\/real-estate-market-will-continue-to-move-in-fast-direction-amid-pent-up-demand-century-21-ceo\">Fox Business<\/a> anchor Maria Bartiromo, Miedler explained that the market is hot because \u201ca lot of buyers are trying to rush in and beat any more increases in the mortgage rate.\u201d He continues \u201cto see the market moving in a very kind of fast direction as folks have a lot of pent-up demand in trying to buy homes here in this country.\u201d&nbsp;<\/p>\n<p>Meanwhile, there is a low supply of new homes: \u201cFrom the downturn that happened in 2008 to where we are at now, we are at historic lows on where folks are building.\u201d<\/p>\n<p>\u201cHere is the truth of the matter; between 2012 and 2021 there were close to 12 million new household formations and we only put 7 million homes built in this country, so we have to double the pace in the next five years to catch up with the demand that\u2019s out there,\u201d he explained.&nbsp;<\/p>\n<p>According to the National Association of Realtors\u2019 Profile of Home Buyers and Sellers survey \u2014 which monitored the behavior of buyers between July 2020 and June 2021 \u2014 the American real estate market currently <a href=\"https:\/\/www.dailywire.com\/news\/u-s-homes-are-selling-at-the-fastest-pace-in-four-decades\">favors<\/a> sellers:<\/p>\n<p>Among repeat home buyers and home sellers over the last year, a key factor for moving was the desire to live closer to family and friends, while an equally important motivator was the need for more space or a bigger home. Sellers as a whole were able to benefit in these transactions, typically earning their full asking price, and selling in one week.<\/p>\n<p>Other trends point to the same conclusion:<\/p>\n<p>For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family (18%), that it was too small (17%), and the neighborhood had become less desirable (11%).<\/p>\n<p>For recently sold homes, the \ufb01nal sales price was a median of 100% of the \ufb01nal listing price. Only 26% of all sellers offered incentives to attract buyers, a drop from 46% of all sellers last year.<\/p>\n<p>\u201cBuyers moving quickly during the pandemic, coupled with all-time-low inventory, led to a decline in time on market to the shortest ever recorded, which was just one week,\u201d National Association of Realtors executive Jessica Lautz said.&nbsp;<\/p>\n<p>Amid the tight housing supply, investment banks are <a href=\"https:\/\/www.dailywire.com\/news\/wall-street-firms-are-buying-up-single-family-homes\">buying<\/a> single-family homes to profit upon increasing rent and property values. CNN Business summarized:<\/p>\n<p>In the first three months of this year, nearly a quarter of all homes sold in the United States were going to investors. That\u2019s a broad umbrella that covers everything from mega institutions to individuals buying vacation homes, but BlackRock, JPMorgan Chase and Goldman Sachs were among the big-name buyers.<\/p>\n<p>Institutional investors still own only about 2% of all single-family rentals in the United States, or roughly 300,000 homes, according to John Burns research director Rick Palacios.<\/p>\n<p>Meanwhile, China \u2014 which is now encouraging couples to have more children \u2014 <a href=\"https:\/\/www.dailywire.com\/news\/china-cracks-down-on-real-estate-industry-so-that-families-can-afford-housing\">announced<\/a> regulations upon its real estate sector to promote affordability for young families. Chinese President Xi Jinping says that \u201chousing is for living in and not for speculation.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Century 21 chief executive Michael Miedler said that the American real estate market will continue to be heated.During an interview with Fox Business anchor Maria Bartiromo, Miedler explained that the market is hot because \u201ca lot of buyers are trying to rush in and beat any more increases in the mortgage rate.\u201d He continues \u201cto see the market moving in a very kind of fast direction as folks have a lot of pent-up demand in trying to buy homes here in this country.\u201d\u00a0Meanwhile, there is a low supply of new homes: \u201cFrom the downturn that happened in 2008 to where we are at now, we are at historic lows on where folks are building.\u201d\u201cHere is the truth of the matter; between 2012 and 2021 there were close to 12 million new household formations and we only put 7 million homes built in this country, so we have to double the pace in the next five years to catch up with the demand that\u2019s out there,\u201d he explained.\u00a0According to the National Association of Realtors\u2019 Profile of Home Buyers and Sellers survey \u2014 which monitored the behavior of buyers between July 2020 and June 2021 \u2014 the American real estate market currently favors sellers:Among repeat home buyers and home sellers over the last year, a key factor for moving was the desire to live closer to family and friends, while an equally important motivator was the need for more space or a bigger home. Sellers as a whole were able to benefit in these transactions, typically earning their full asking price, and selling in one week.Other trends point to the same conclusion:For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family (18%), that it was too small (17%), and the neighborhood had become less desirable (11%).For recently sold homes, the \ufb01nal sales price was a median of 100% of the \ufb01nal listing price. Only 26% of all sellers offered incentives to attract buyers, a drop from 46% of all sellers last year.\u201cBuyers moving quickly during the pandemic, coupled with all-time-low inventory, led to a decline in time on market to the shortest ever recorded, which was just one week,\u201d National Association of Realtors executive Jessica Lautz said.\u00a0Amid the tight housing supply, investment banks are buying single-family homes to profit upon increasing rent and property values. CNN Business summarized:In the first three months of this year, nearly a quarter of all homes sold in the United States were going to investors. That\u2019s a broad umbrella that covers everything from mega institutions to individuals buying vacation homes, but BlackRock, JPMorgan Chase and Goldman Sachs were among the big-name buyers.Institutional investors still own only about 2% of all single-family rentals in the United States, or roughly 300,000 homes, according to John Burns research director Rick Palacios.Meanwhile, China \u2014 which is now encouraging couples to have more children \u2014 announced regulations upon its real estate sector to promote affordability for young families. Chinese President Xi Jinping says that \u201chousing is for living in and not for speculation.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1048674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1048674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1048674"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1048674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1048674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1048674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1048674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}