{"id":7080,"date":"2021-12-10T13:27:00","date_gmt":"2021-12-10T18:27:00","guid":{"rendered":"https:\/\/empireappraisalgroup.com\/?p=7080"},"modified":"2021-12-05T16:32:38","modified_gmt":"2021-12-05T21:32:38","slug":"has-2021-been-a-2-trillion-year","status":"publish","type":"post","link":"https:\/\/empireappraisalgroup.com\/has-2021-been-a-2-trillion-year\/","title":{"rendered":"Has 2021 Been a $2 Trillion Year?"},"content":{"rendered":"

Has 2021 Been a $2 Trillion Year?<\/h1>\n
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The booming real estate market is on a pace to shatter records this year. The real estate data firm CoreLogic reports that the total value of residential real estate transactions in 2021\u2019s second quarter topped $600 billion for the third time in the past year. That puts the market on track for a record-breaking year, CoreLogic says.<\/span><\/div>\n

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\u201cThe value of transactions has skyrocketed despite sales volumes continuing a relatively normal growth trend,\u201d says Thomas Malone, an economist at CoreLogic, on the company\u2019s Insights blog.<\/p>\n

In the first quarter of 2021, $750 billion was spent on 1.91 million transactions.<\/p>\n

The increase in home prices is behind the upswing. Sales also have moved up the most in higher-priced areas.<\/p>\n

CoreLogic researchers say the combination of appreciation and relocation to expensive areas has already led to more than $1.25 trillion in transactions in the first half of 2021. Given the ongoing growth, researchers pose the question: Could 2021 be the first year that transactions surpass $2 trillion?<\/p>\n

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\"Chart,<\/div>\n<\/div>\n<\/div>\n

\u00a9 CoreLogic<\/p>

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Source:<\/div>\n
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\u201c2021 Is on Pace to Be the First Multi-Trillion Dollar Real Estate Market<\/a>,\u201d CoreLogic Insights (Nov. 24, 2021)<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n