According to new data released by RE/MAX, home sales during December increased by 6.2% from November and year-over-year were 21.9% higher. December will go down in the 2020 history books as the fifth busiest month for homes sales in the year and December 2020 sales were greater than all but two months in 2019. In prepared remarks for the news release Adam Contos, CEO of RE/MAX Holding Inc. said, “The very strong sales total in December–over 20% higher than a year earlier–reflects just how frenzied the market was as we entered 2021. And when you look at the entire last half of the year, you see sky-high demand for housing across the country.” Contos went onto say, “Buyers are dismissing the potential constraints of rising prices and limited inventory to boldly move ahead with their plans to purchase and own a home. We think that says a lot about the lasting appeal of homeownership. Many people want to own their home, not rent, and the low interest rate environment is helping them do it.”
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Home Sales Closed December With a Bang