If you were anywhere near the Internet yesterday, you know very well that it was “Back to the Future Day.” We even jumped in on the action, sharing on Twitter just how much real estate sales, prices and buyers have evolved since October 1985.
This morning was also spent looking back at the past, although that past was only a month ago.
Existing-home sales in September bounced back strongly, increasing 4.7% from a month ago and 8.8% from September 2014.
NAR chief economist Lawrence Yun attributed the robust gain to a slight moderation in home prices in some markets and mortgage rates remaining below 4 percent.
Below are charts highlighting the recent progress of the housing market, which makes me wonder: what will houses look like 15 years from now?
Perhaps a “Back to the Future Part 4, Housing Market” needs to start filming now. I’m hoping it features homes with wings that physically move north in the summer and on to Florida in the winter!