housing market: Are We Still in a Sellers' Market?
- 06/21/22 11:34 AM
Ever since interest rates decreased at the beginning of the pandemic, the real estate market throughout most of the country has heavily favored sellers. When interest rates decrease, more buyers enter the market to secure mortgage loans with low interest rates. High buyer demand means that sellers oftentimes receive multiple bids.The combination of low interest rates, extremely quick sales, low inventory, and rapidly increasing price gains, has the housing market favoring sellers by a considerable amount. While this is still true today, market conditions may be set to change in the near future.
What the Future Indicates for BuyersOver the past six … (5 comments)
Home Price Expectations Home prices have grown for over 120 consecutive months (10 years) year over year. The price appreciation has averaged 15% for 2021 which is a stark increase to 6% in 2020. Why are prices growing? Demand drives pricing. There are still many more buyers in the market to purchase a home than homeowners who are willing to sell. Because of this imbalance, home price forecasters believe prices are expected to increase throughout … (4 comments)
housing market: Housing Market Will Improve in 2015
- 11/18/14 08:00 PM
The lagging sector is new single family homes, where a shortage of skilled labor and buildable lots is holding back construction. Eight years after heading into the tank, the housing market is finally nearing normal. Come 2015, sales of existing homes are likely to match or top the average for 1999-2002, before home buying mania seized the U.S. A strong rental market already has the construction of multifamily dwellings back to that historical norm. The big exception is new single-family homes. Both construction and sales of them are running at just 50% of their pre-bubble levels, and they won’t regain … (0 comments)
housing market: Real Estate in 2014: A Need-to-Know Guide
- 01/08/14 09:08 PM
After year of struggles, the housing market roared back to life in 2013. The rebound will continue in 2014, but the pace will slow. Experts say 2014 will be a year of continued growth and stabilization in the housing market with rising home prices, fewer foreclosures and greater activity among underwater homeowners. But this year’s market faces strong headwinds as inventory remains tight and both homebuyers and builders face tough lending standards. To buy a home in today’s market, you either need impeccable credit or the ability to make an all-cash purchase. The average FICO credit score on conventional loans used … (0 comments)
housing market: Recovering Housing Market to Spur Economic Recovery in New Year
- 11/24/13 08:12 PM
Next year will likely be the first year since 2000 that home purchases outpace refinances, according to Freddie Mac’s expectations. Furthermore, the rallying housing market should set the broader economy on a brighter path, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for November.
“Led by a resurgent housing sector, 2014 should shape up to be better than 2013,” Freddie Mac stated in its outlook. Housing starts, which have been slow, should rise to a pace of about 1.15 million in 2014, according to Freddie Mac. This is more in line with the historical average of 1.1 million per year reported by … (0 comments)
housing market: Charlotte home stager reveals how to get your house ready to sell
- 03/06/13 05:10 AM
Joan Inglis has seen it over and over during her two-decade home staging career: homeowners trying to sell but unable to see their houses as products. They don’t repaint the purple-walled kids’ room. They leave the tricycle in the driveway and old towels hanging in the bathroom. They don’t step back and look at their homes through the eyes of a potential buyer. Inglis, who owns Lake Wylie, S.C.-based Carolina Spaces home staging service, is getting ready for spring, typically the peak selling season in Charlotte and around the country. And she’ll be telling clients: Keep your homes as uncluttered and … (1 comments)
housing market: Must-Know Tips for Navigating the Housing Market
- 07/12/12 01:51 AM
Studies on homeownership prove that it enhances our lives in many ways, and among them is how we plant deeper stakes within the communities we call home,” notes John L. Heithaus, CMO of MRIS. “Since navigating the housing market has become more complex than ever, any potential homebuyer, whether a first-time buyer or not, can benefit from solid professional advice in their pursuit of homeownership.”
To that end, MRIS has compiled the following list of “must read” tips from among its 45,000+ network of real estate professionals, reinforcing some of the best practices for ensuring that potential homebuyers … (0 comments)
The list of housing markets showing measurable improvement expanded by 29 metros in February to include a total of 98 entries on the National Association of Home Builders/First American Improving Markets Index (IMI), released today. Thirty-six states are now represented by at least one market on the list.
The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. The February index adds some metropolitan areas that have been particularly weak; this is due to the fact that the IMI measures improvement from … (2 comments)
While 2011 was clearly a challenging year, there is a lot to be positive about looking ahead. Economically, while buffeted by natural disasters and fiscal policy indecisiveness at home and a European sovereign debt crisis abroad, the U.S. economy was able to stave off economic stagnation in 2011 and is likely to continue to do so in 2012.
Housing statistics and the duration of the housing downturn to date indicate that 2012 may be the year we begin to turn the corner. In the summer of 2011, economic concerns peaked as the economy appeared to be on the … (0 comments)
The number of housing markets showing measurable improvement nearly doubled in January with the addition of 40 new metros to the National Association of Home Builders/First American Improving Markets Index (IMI).
The IMI now boasts 76 improving markets, up from 41 in December, with 31 states and the District of Columbia represented by at least one entry.
The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. New entrants to the list in January include the following (listed alphabetically by state): … (2 comments)
housing market: Kiplinger’s Housing Forecast: Positive Signs Offset the Negative
- 12/22/11 02:54 AM
The median home price in the U.S. has plunged nearly 40% in a little over five years, but the worst is definitely over, according to a recent report by Kiplinger: The market has finally wrung out the last excess valuations born of the housing bubble. Before you break out the party hats, note that this doesn’t mean prices across the nation are poised to rebound anytime soon. Alex Villacorta, director of research and analytics at Clear Capital, a provider of real estate data and analytics, said the housing market is in a “suspended state,” with positive and negative factors offsetting one … (2 comments)
housing market: Rental Costs Are About to Takeoff Reasons NOW Is a Great Time to Buy
- 05/06/11 12:20 AM
We are often asked whether it is better to rent or buy in the current housing market. The answer to that question is: "It all depends." There are certain situations where renting short term probably makes sense. It may make sense if you are retiring to a different region of the country and are not yet sure where you want to set down roots for the next 25 years. It may make sense if you have a one-year employment contract that will probably require a move to another place upon termination. However, in most other cases, renting right now makes little … (4 comments)
Ever since interest rates decreased at the beginning of the pandemic, the real estate market throughout most of the country has heavily favored sellers. When interest rates decrease, more buyers enter the market to secure mortgage loans with low interest rates. High buyer demand means that sellers oftentimes receive multiple bids.The combination of low interest rates, extremely quick sales, low inventory, and rapidly increasing price gains, has the housing market favoring sellers by a considerable amount. While this is still true today, market conditions may be set to change in the near future.
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