market report: Multiple micro-bubbles in major metro housing markets
- 03/31/13 12:16 AM
We are looking at multiple micro-bubbles in major metro housing markets along both coasts and in Texas and Arizona, and gurus in the media are speculating about home prices skyrocketing if mortgage rates stay low. We are being told that the economy is healing and that things are gradually getting better for "the rest of us". I agree. Things are getting better. Things have already gotten a lot better for some people, and not much better for a whole lot of other people. Now we are being encouraged to believe that the tide is rising swiftly and strongly enough to raise … (4 comments)
market report: Will prices skyrocket if rates stay low for two years?
- 03/30/13 11:42 PM
Will prices skyrocket if rates stay low for two years? Yes, in those places where job and wage growth outside the housing industry is strong. I just watched a video from Bloomberg that made some great predictions, fanning the flames of the hot-market mentality (and reality, in some major metro markets), but not directly answering the real problem with the predictions. In this case, the moderator did ask the question, but got only half the answer. I am optimistic about these predictions, but the headline "Prices to Skyrocket" doesn't address the real problem that the interviewer asked. Here's the interview. If … (17 comments)
market report: The buyers' market in Plymouth County Real Estate continues
- 03/19/13 10:25 PM
The buyers' market in Plymouth County Real Estate continues While some major market cities are experiencing strong sellers' markets, the buyers' market in Plymouth County real estate continues unabated. The number of sales and the sales prices have been flat. Interest rates and the number of homes on the market are both low. Those are statistics that favor buyers. Sellers can take solace in the fact that sales prices have averaged 95-96% of listing prices all year. Sellers are asking more for their homes, as reflected in a rising average listing price, but that, together with a low number of homes … (0 comments)
market report: The 30-Year History of 30-Year Fixed-Rate Mortgages
- 03/18/13 10:30 PM
The 30-Year history of 30-Year Fixed-Rate Mortgages The 30-year history of 30-year fixed-rate mortgage rates is that those rates have been in a slow, fairly steady, continuing decline. Did you know that? Do you remember the gas crisis of the '70s? How about the inflation? I do. Look at the chart below. It shows the very long-lasting trend of falling long-term rates. Right now, "everyone" is saying that rates can't stay this low: everyone with a vested interest in getting people to borrow money right now, that is. I'm asking, why can't they go lower? Why are interest rates sure to go … (7 comments)
Duxbury home sales through March 15, from the beginning of 2013, include two homes sold for over $1 million and seven homes sold in the $400-500,000 range. On average, the homes sold for 93% of the listing price and 96% of the assessed value. The average time on the market was 198 days, but that number drops to 159 if we exclude the most expensive home, 34 Mayflower Street, which spent two years on the market. The average price per square foot was $236. Excluding the highest and lowest prices per square foot, the average … (0 comments)
market report: Duxbury Home Sales through February 2013
- 03/13/13 02:35 AM
Duxbury Home Sales through February 2013 The most recent data on Duxbury home sales through February 2013, show that The number of homes sold is up almost 13%. Prices have risen 3 to 5% over the past 12 months when compared to the preceding 12 months, but the price per square foot has dropped slightly. There are fewer homes for sale now, and Those homes are selling faster than they did a year ago. That is, the Duxbury market is showing signs of becoming more active and more of a seller's market. You probably have heard news outlets trumpeting the … (0 comments)
market report: Plymouth Home Sales through February 2013
- 03/13/13 01:03 AM
Plymouth Home Sales through February 2013 The most recent data on Plymouth home sales through February 2013, show that The number of homes sold is up almost 15%, Prices for the past 12 months continue to remain at the same level as they were for the preceding 12 months, and There are a with a slightly lower number of homes for sale now than there were last year at the same time. That is, the Plymouth market is neither accelerating nor decelerating; it's steady as she goes. You probably have heard news outlets trumpeting the "hot" housing markets in some areas … (0 comments)
market report: Is the Plymouth County housing market heating up?
- 02/14/13 09:54 AM
The results are in for January, 2013, and they show that the Plymouth County housing market is doing better -- with homes selling for higher prices, in less time, in a market where there are fewer homes for sale -- than it was in the same month last year, January 2012. January is often the least active month of the year for real estate activity. That makes it useful for year-over-year comparisons: analyzing the differences between this January and previous Januarys can give us some useful indications about market trends and how this year's market may play out. There's been a lot … (4 comments)
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We are looking at multiple micro-bubbles in major metro housing markets along both coasts and in Texas and Arizona, and gurus in the media are speculating about home prices skyrocketing if mortgage rates stay low.
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