Happy New Year: What Did the Housing Market Look Like in 2021?

As 2021 comes to a close, it’s the perfect time to reflect back on this year’s housing market. Unsurprisingly, due to the COVID-19 pandemic, there’s been a notable rise in housing prices. Between August 2020 and August 2021, home prices have risen by nearly 20% in the United States. That’s an even steeper rise than the period that led to the meltdown in 2008. Once the fall arrived, however, these rising costs seemed to slow down a bit. There’s more inventory entering the market now, and that means fewer bidding wars are taking place. Want to know more about the modern housing market and what changes to expect? Contact us for guidance.

What are the limitations
on an inspection?

A real estate inspection or home inspection is not an appraisal or a check for compliance with building codes; it’s also not an evaluation of environmental hazards. See the NYS Standards of Practice for more information on the limitations of a home inspection.