New report shows real estate market set 10 new records in 2021

Written by Desmond

December 16, 2021

According to a new report from real estate brokerage Redfin, the coronavirus pandemic and the resulting surge in remote work have changed where, when, why and how people buy homes. This past year, home-sale prices hit the highest median of all time, the number of homes for sale fell to an all-time low, and there was record demand for second homes.

“The ongoing pandemic, including its seismic effect on the U.S. economy and the way Americans live and work, has made 2021’s housing market anything but typical,” Redfin Chief Economist Daryl Fairweather said in a statement. “Remote work, low mortgage rates, a shortage of building materials and wealth inequality that has allowed an influx of affluent Americans to buy vacation homes, to name just a few factors, have come together to create a historic year for real estate.

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