“More jobs are very likely, due to the near certain passage of the $1.9 trillion stimulus package and from two million vaccinations per day,” National Association of Realtors chief economist Lawrence Yun said in a release.
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The stimulus bill includes aid for state and local governments, new homeowners, small businesses and renters.
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The all-time high for January comes as limited supply cut pending transactions on a monthly basis, the association said.
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As the political fundraising arm of the National Association of Realtors, RPAC solicits voluntary contributions from Realtors — more than $5 million during the 2018 election cycle. It uses those funds to help elect candidates across the political landscape who understand and support real estate interests — at all levels of government.
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First-time buyers contributed to 31% of September’s home sales due to record-low mortgage rates, according to the report.
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The U.S. economy added 1.4 million new jobs in August, but one economist warns that permanent job losses are a bigger problem.
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Working from home as an ongoing trend will greatly change the landscape of where people buy homes, according to NAR Chief Economist Lawrence Yun.
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Real estate industry associations oppose the decision and are calling on Congress to provide rental assistance to housing providers.
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