THREE HOUSING TRENDS TO WATCH IN 2017

Reblogger Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
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Do you understand these three terms?

Housing Supply 

Housing Demand

Housing Affordability

By reading this post you'll gain a useful understanding of these three terms-housing supply, housing demand and housing affordability-that thousands of first time home buyers and soon to be home sellers may hear talked about, but not fully comprehend.

 

Original content by John Lemos NMLS# 613321

1 - Housing Supply
Housing supply measures how many months it would take to sell all the houses currently listed for sale, at the current pace of home sales. For example, if there are 600 homes currently listed for sale, and an average of 100 homes are selling each month, there would be a 6-month housing supply. This is because it would take 6-months to sell all the homes currently listed for sale.

Housing supply has been running below 6 months across the US since 2012.  This indicates a seller’s market.  In many parts of the country, buyers are competing with multiple offers… in some cases dozens of offers on the same house.  This tells us that house prices are poised to continue going up in the next several months.

2 - Housing Demand
Housing demand tends to slow down in the winter because most home sales occur during the spring and summer.  Even so, housing demand is expected to remain strong because the economy is doing well and people have jobs in most parts of the country.

3 – Housing Affordability
Even with the recent uptick in mortgage rates, buying a house is more affordable than renting a house in most parts of the country.  In fact, lending guidelines for buyers who use a 3% or 5% down payment have recently been relaxed.

Please contact me for more details or to explore your options

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Rainmaker
2,543,042
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It will be a bit befor e the market levels off, but just stay on your hustle! Love and light!

Jan 13, 2017 11:53 PM #1
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
Get Results Team...Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

You know I always am on the job here in Silicon Valley Laura.

Jan 14, 2017 02:46 AM #2
Rainmaker
521,276
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

All three of these vary by market so it's important to hire a local expert!

Jan 14, 2017 05:16 AM #3
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
Get Results Team...Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Exactly, Nathan, plus the market (and numbers) are always changing.

Jan 14, 2017 10:20 AM #4
Rainmaker
1,690,096
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

All of these things point to a very active and rewarding 2017 !!!!!!!!!!!

Jan 14, 2017 05:07 PM #5
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