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Learn MoreHome / Archives for Shu Chen
Shu Chen holds the position of senior professional, statistical analysis as part of the Office of the Chief Economist at CoreLogic. She works with senior economists to provide insights for multiple listing service data and the single-family rent index.
Prior to CoreLogic, Chen was a contributor to the consumer expenditure survey program for the Bureau of Labor Statistics and the credit risk and analytics team at Fannie Mae. She earned her master’s degree in statistics from the University of Virginia.
Affordability in the property market continues to be a challenge, leading to fewer homes selling above list price.
Although more than half of homes sold within 30 days, the median number of days they are staying on the market is growing.
As mortgage rates slow the buying frenzy, long-standing housing supply pressures began to ease. However, the supply of homes remains lower than pre-pandemic averages.
2021 was a strong year for the U. S. housing market. Home price appreciation was in the double digits and sales volume was near pre-pandemic levels.
The shortage in for-sale homes has driven the number of days homes are on the market to new lows in 2021.
Since the pandemic began over a year ago, a supply shortage of for-sale homes has fueled home price growth.