October 20, 2021
Real Estate

Fed mortgage securities purchases draw fire in white-hot US housing market

Homes are selling at a rapid pace throughout much of the U.S. due to a market imbalance many say the Fed has accelerated.

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Aaron Layman has never seen a more competitive housing market.

Layman, a real estate broker and housing analyst based in Denton County, Texas, said homes for sale in the Dallas-Fort Worth area are selling in about six days on average, compared to the typical 45-day average. A rush of speculators has flooded the market with all-cash offers and whittled inventory down to about 15% of typical levels. And modest, single-family homes are going for 20% more than their listing price in a matter of hours.

“It’s just crazy. Houses will get listed on Thursday and they’ll be looking at 20 offers by Sunday evening,” Layman said in an interview.

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Those same conditions are playing out in housing…

Read full article here: www.spglobal.com