As with everything supply and demand also impacts the housing economy. In today’s economy, there is still uncertainty because of the pandemic. As we reach the end of 2020, home prices are still on the rise and are predicted to keep on the same path into the new year.

The current housing market is lacking still in inventory. The high demand for housing combined with the lack of inventory is pushing home prices up. Bidding wars are becoming the norm and homebuyers are willing to pay the hefty price tag in today’s real estate market.

According to housing experts, the new year will continue to see home prices rising due to the continued lack of home inventory on the market. Showtime, which tracks the average number of buyer showings on residential properties, reported that buyer showings are up 61.9% this fall compared to the fall of 2019.

“Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory,” according to ShowingTime.

If you are in the market to purchase a home, reach out to a Realtor. A Realtor will be able to help you navigate the current face-paced housing market.

Click Here For the Source of the Information.

This is the Northshore’s premier holiday event in Mandeville.

Annual Christmas Past Festival


When:
December 12, 2020
10 am – 4 pm

Where: Girod Street Shops & Restaurants
Mandeville, LA 70448

What: Free Event.

Call 985-710-8323 for More Information.

Conducted by Dr. ALissa Rowe in Mandeville.

Caroling with NPAS


When:
December 11, 2020
7:30 pm

Where: Hosanna Luthern Church
2480 US-190
Mandeville, LA 70448

What: $20 Suggested Donation

Call 985-710-8323 for More Information.

Celebrate the holidays in Covington.

Candlelight Caroling


When:
December 11, 2020
7 pm

Where: Covington Trailhead
419 N. New Hampshire St.
Covington, LA 70433

What: Free Event.

Call 985-710-8323 for More Information.

This event is for the whole family in Slidell.

Louisiana Food Truck Festival


When:
December 5, 2020
11 am – 4 pm

Where: The Harbor Center
100 Harbor Center Blvd.
Slidell, LA 70458

What: Free Event.

Call 985-710-8323 for More Information.

Come see Santa & Mrs. Claus in Slidell.

Slidell Christmas Parade


When:
December 5, 2020
10am – 5pm

Where: Olde Towne Slidell from City Hall to Griffith Park
Slidell, LA 70458

What: Free Event.

Call 985-710-8323 for More Information.

This free family event celebrates the holidays in Covington.

Deck the Rails

When: December 5, 2020
4 pm – 7:30 pm

Where: Covington Trailhead
419 N. New Hampshire St.
Covington, LA 70433

What: Click Here for More Information.

Come enjoy this annual holiday event at TerraBella Village in Covington.

Christmas at TerraBella

When: December 4, 2020
6:30 pm

Where: TerraBella Village
111 Terra Bella Blvd
Covington, LA 70433

What: Click Here for More Information.

This event takes place in downtown Covington.


Covington Holiday Art Market


When:
December 5, 2020
10 am – 2 pm

Where: Lee Lane in Historic Downtown Covington
Covington, LA 70433

What: Free Event.

Call 985-892-8650 for More Information.

The pandemic has changed the way people view their homes. From the stay-at-home orders to the scare of spreading the virus, the home is everyone’s safe haven. Luckily today’s technology has enabled many Americans to work from home. More and more people are reassessing what they want in a home such as a home office, flex space and outdoor living space.

The housing market is booming in fact, home sales are higher than they were before the pandemic. The existing and new home sales are the highest level we have seen in over a decade. With the increase in home sales, comes an increase in the demand for building materials and labor.

Lumber has been in very high demand during recent months. Not only are builders building new homes but many homeowners are remodeling their current homes. Home offices and remote work locations have also spiked the demand for this hot commodity. The November 2020 Random Length Lumber contract shows a low set during the height of COVID in April at 277 but then in August lumber was set at 820.

The copper market has also been greatly affected by the booming housing market. Looking at the September 2020 copper futures contract, we witness a low set on March 19 at 1.99, followed by a big move up to 3.08 by September 15. Copper is also valuable to the technology industry where it is used for building servers, semiconductors and switches.

Currently, sales of single-family homes are up 24% from the spring, existing condominiums and co-ops are up 32%. Lumber and copper numbers are a great way to measure and predict the direction the housing industry will go, knowing which markets are directly affected by the growing demand for single-family units can be important for every trader and investor.

Click Here For the Source of the Information.