{"id":790832,"date":"2021-09-19T10:30:11","date_gmt":"2021-09-19T14:30:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=790832"},"modified":"2021-09-19T10:30:13","modified_gmt":"2021-09-19T14:30:13","slug":"home-prices-up-16-annually-but-sales-finally-begin-to-slow","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/home-prices-up-16-annually-but-sales-finally-begin-to-slow\/","title":{"rendered":"Home Prices Up 16% Annually, But Sales Finally Begin To Slow"},"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\">22<\/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%2Fhome-prices-up-16-annually-but-sales-finally-begin-to-slow%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=790832&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-81888267-suburbs-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>The average American home price has risen by 16% since last August \u2014 although sales began to slow for the first time in fifteen months.<\/span><\/p>\n<p><span>An analysis from real estate brokerage <\/span><a href=\"https:\/\/www.redfin.com\/news\/august-home-price-gains-slow-to-16pct\/\"><span>Redfin<\/span><\/a><span> said that the median price of homes sold last month was $380,271 \u2014 marking the thirteenth consecutive month of double-digit year-over-year price gains.<\/span><\/p>\n<p><span>However, the 16% growth rate is also the slowest since February; the month of August saw a 1% month-over-month dip in sale price, and there were 6% less homes sold year-over-year since last August.<\/span><\/p>\n<p><span>\u201cWhen it comes to home prices in this market, what goes up stays up,\u201d explained Redfin chief economist Daryl Fairweather. \u201cAs workers change jobs en masse and enhanced unemployment benefits come to an end, we could see even more households relocate for affordability in the coming months.\u201d<\/span><\/p>\n<p><span>Fairweather noted that cities in the Sun Belt \u2014 such as Austin and Phoenix \u2014 are seeing particularly high price increases. Respectively, the two markets have seen 35.7% and 25.2% more expensive homes since last year. Salt Lake City, Dallas, Fort Worth, Nashville, and Miami saw price hikes of 24.3%, 17.6, 20.5%, 19.4%, and 16.9%.<\/span><\/p>\n<p><span>Austin, Virginia Beach, and Columbus had the highest year-over-year increases in available homes. Indianapolis had the most heated market, with half of all homes selling in a mere five days after listing.<\/span><\/p>\n<p><span>Since the COVID-19 pandemic, lockdowns, and the associated recession, the American housing market has experienced a high degree of competition. As <\/span><a href=\"https:\/\/www.dailywire.com\/news\/report-average-home-is-staying-on-the-market-for-only-6-days\"><span>Zillow<\/span><\/a><span> explained in a report released earlier this year, \u201cthe combination of tight supply and high demand is doing more than just pushing home values up at a record pace \u2014 it is also helping push the amount of time homes spend on the market before selling to record lows.\u201d<\/span><\/p>\n<p><span>Another report from the <\/span><a href=\"https:\/\/www.dailywire.com\/news\/america-is-short-one-million-construction-workers\"><span>Associated Builders and Contractors<\/span><\/a><span> showed that shortages in home supply are compounded by a distorted labor market for construction employees; the group predicted that \u201ca higher growth rate scenario could boost the number of additional construction workers needed in 2021 to nearly 1 million.\u201d<\/span><\/p>\n<p><span>Indeed, leaders of construction businesses were dogged by the worker shortage that continues to impact the entire American economy. Matthew Messer \u2014 the owner of New York Solar Maintenance in Long Island, New York \u2014 told <\/span><a href=\"https:\/\/www.cnn.com\/2021\/07\/08\/economy\/construction-worker-shortage\/index.html\"><span>CNN Business<\/span><\/a><span> that he was forced to work alongside his construction staff due to the lack of available labor.<\/span><\/p>\n<p><span>\u201cThe phone is ringing off the hook. I am expanding as quickly as I can, but right now that\u2019s governed by the amount of skilled technicians I can bring on,\u201d Messer said to the outlet. \u201cI was offering $18-$22 an hour and I got no applications. I increased it to $23 and I got none. I increased it to $25 and they\u2019re starting to trickle in right now. It was a dramatic increase, but in order to grow the business, I need technicians.\u201d<\/span><\/p>\n<p><i><span>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 <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The average American home price has risen by 16% since last August \u2014 although sales began to slow for the first time in fifteen months.An analysis from real estate brokerage &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-790832","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\/790832","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=790832"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/790832\/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=790832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=790832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=790832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}