As we enter the last month of the year, you may be wondering what state the housing market is in and where it's headed. The answer is simple: look to the economic principle of supply and demand.

Housing inventory is low, which means prices are trending upwards. A scarce supply equals higher demand, which drives up sale prices. Consumers are willing to pay more for what they want- and considering interest rates are currently at an all-time low, they want to buy as soon as possible. This lack of inventory and desire to buy now is also leading home seekers to engage in bidding wars, which is another factor driving up price points. 

As a result of the present-day market landscape, experts from Zillow, Zelman, NAR, Freddie Mac, and others project that…

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Though summer has come to a close and the holidays are right around the corner, the luxury housing market is holding steady in vacation destinations like Palm Beach, Aspen, the Hamptons, and coastal New Jersey. According to Redfin, luxury home sales jumped 41.5% in the third quarter of 2020, marking the largest year-over-year shift since 2013. 

Why the boom? Buyers are thinking about where they see themselves in the new year- even projecting as far ahead as summer 2021. Where would they like to purchase their next vacation home to spend time in after the winter season? Prospective buyers are also searching for things they didn't know they wanted in a home before the current health climate, including more square footage, outdoor amenities like pools and…

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