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Some Highlights: Existing Home Sales are currently at an annual pace of 5.46 million. The inventory of existing homes for sale remains below the 6 months needed for a normal market and is now at a 3.9-month supply. Inventory remains low due to high demand from buyers who are still looking for a house to…
The economy is currently experiencing the longest recovery in our nation’s history. The stock market has hit record highs, while unemployment rates are at record lows. Home price appreciation is beginning to reaccelerate. This begs the question: How long can this economic recovery last? The Wall Street Journal (WSJ) Survey of Economists recently called for…
Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear. Every market is different. Before you renew your lease, find out…
Some are afraid the real estate market may be looking a lot like it did prior to the housing crash in 2008. One of the factors they’re pointing at is the availability of mortgage money. Recent articles about the availability of low-down payment loans and down payment assistance programs are causing concern that we’re returning…
Buyers are out in full force this fall, increasing the demand for homebuying in all four regions of the country. According to the latest ShowingTime Showing Index, “Home showing activity was up again nationwide with a 4.6 percent rise in traffic, as the traditionally slow fall season began with a marked boost in buyer interest.”…
In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market. The U.S. Census Bureau announced, “The homeownership rate of 64.8 percent was not statistically different from the rate in the third quarter 2018 (64.4 percent), but was 0.7 percentage points higher than the rate…
Home buying activity (demand) is up, and the number of available listings (supply) is down. When demand outpaces supply, prices appreciate. That’s why firms are beginning to increase their projections for home price appreciation going forward. As an example, CoreLogic increased their 12-month projection for home values from 4.5% to 5.6% over the last few…
Every Hour in the U.S. Housing Market: 614 Homes Are Sold 95 Homes Regain Positive Equity Median Home Values Go Up $1.38
Tom Petty famously penned the words, “the waiting is the hardest part” in his early 80’s hit song The Waiting, and his thought process can surprisingly also be applied to individuals considering selling their homes today. Traditional thinking would suggest it may be best to wait until the spring to sell when there is a…
Some Highlights: The National Association of REALTORS® surveyed their members for the release of their Confidence Index. The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices, and market conditions. Homes across the country are selling…