housing market: Should I Sell My House This Year?
- 01/28/20 07:57 AM
Shutterstock If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Survey from the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about! As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a … (0 comments)
housing market: Housing Inventory Vanishing: What Is the Impact on You?
- 01/16/20 10:43 AM
Shutterstock The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains: “Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018.” The report also revealed that the decline in inventory stretches across all price points, … (2 comments)
housing market: The 2020 Real Estate Projections That May Surprise You
- 01/02/20 09:39 AM
Shutterstock This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen in the 2020 U.S. housing market can be challenging. As a result, taking a look at the combined projections from the most trusted entities in the industry when it comes to mortgage rates, home sales, and home prices is incredibly valuable – and they may surprise you. Mortgage RatesProjections from the experts at the National Association of Realtors (NAR), the Mortgage Bankers Association (MBA), Fannie Mae, and Freddie Mac all forecast mortgage rates remaining stable throughout 2020: Since rates … (2 comments)
housing market: How Long Can This Economic Recovery Last?
- 11/21/19 09:46 AM
Getty images 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 an economic slowdown (recession) in the near future. The most recent survey, however, now shows the economists are pushing that timetable back. When asked when they expect a recession to start, 42.5% of the economists in the previous survey projected between now and the end of 2020. The most recent survey … (0 comments)
housing market: This is Not 2008 All Over Again: The Mortgage Lending Facto
- 11/14/19 07:56 AM
Shutterstock 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 to the bad habits of a decade ago. Let’s alleviate the fears about the current mortgage market. The Mortgage Bankers’ Association releases an index several times a year titled: The Mortgage Credit Availability Index (MCAI). According to their website: “The MCAI provides the only standardized quantitative index that is solely focused on … (0 comments)
housing market: Buyer Demand Growing in Every Region
- 11/13/19 10:02 AM
Shutterstock 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.” Buyers clearly have the right idea, as mortgage rates have dropped over a full percentage point since the fall of 2018. They’ve hovered in a historically low range since this summer, making the overall cost of homeownership significantly more attractive and affordable.
Here’s the breakdown of how ShowingTime reports current buyer traffic patterns across the country: “The West … (0 comments)
housing market: Homeownership Rate Remains on the Rise
- 11/12/19 07:53 AM
Shutterstock 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 in the second quarter 2019 (64.1 percent).”
Today there is still a lack of inventory, particularly at the entry and middle-level segments of the market, but that is not stopping buyers from making every effort to pursue homeownership. The many financial and non-financial benefits continue to drive the American Dream and will likely do so for … (0 comments)
housing market: The #1 Reason to List Your House in the Winter
- 11/04/19 08:06 AM
Shutterstock Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition. So, what’s the #1 reason to list your house in the winter? Less competition.Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors. As you can see, the ‘sweet spot’ to list your house for the most exposure naturally … (0 comments)
housing market: The Difference an Hour Will Make This Fall [INFOGRAPHIC]
- 11/01/19 07:53 AM
Every Hour in the U.S. Housing Market: 614 Homes Are Sold 95 Homes Regain Positive Equity Median Home Values Go Up $1.38 We hope you found this information helpful. Contact us today for all your real estate needs. team@davidsonhomegroup.com Download Our Home Search App Portland-Vancouver Home Price Check Oh, by the way … if you know of someone who would appreciate the level of service we provide, please call us with their name and business number. We’ll be happy to take great care of them. Keller Williams “Highest in Customer Satisfaction” distinction among sellers and buyers – J.D. Power and Associates.
The information contained, and the opinions expressed, … (0 comments)
housing market: Homes Are Selling Quickly [INFOGRAPHIC]
- 10/18/19 09:39 AM
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 quickly, in an average of just 31 days. 49% of homes sold in less than a month. We hope you found this information helpful. Contact us today for all your real estate needs. team@davidsonhomegroup.com Download Our Home Search App Portland-Vancouver Home Price Check Oh, by the way … if you know … (2 comments)
housing market: 3 Reasons This is NOT the 2008 Real Estate Market
- 10/17/19 11:39 AM
istockphoto.com No one knows for sure when the next recession will occur. What is known, however, is that the upcoming economic slowdown will not be caused by a housing market crash, as was the case in 2008. There are those who disagree and are comparing today’s real estate market to the market in 2005-2006, which preceded the crash. In many ways, however, the market is very different now. Here are three suppositions being put forward by some, and why they don’t hold up. SUPPOSITION #1A critical warning sign last time was the surging gap between the growth in home prices and household income. … (0 comments)
housing market: Gen Z: The Next Generation of Homebuyers
- 10/15/19 09:28 AM
NBC News You’ve likely heard a ton about Millennials, but what about Gen Z? In the next 5 years, this generation will be between the ages of 23 and 28, and they’re eager to become homeowners faster than you may think. According to realtor.com, “Nearly 80 percent of Generation Z members say they want to own a home before age 30,” and Concentrix Analytics said, “52% of prospective Gen Z buyers are already saving to buy a home.” Wikipedia defines Generation Z (Gen Z) as “the demographic cohort after the Millennials. Demographers and researchers typically use the mid-1990s to mid-2000s as starting birth years.” The report from Concentrix goes a little deeper … (0 comments)
housing market: Existing-Home Sales Report Indicates Now Is a Great Time to Sell
- 10/14/19 08:53 AM
Shutterstock The best time to sell anything is when demand for that item is high and the supply of that item is limited. The latest Existing-Home Sales Report released by the National Association of Realtors (NAR), reveals that demand for housing continues to be strong, but the supply is struggling to keep pace. With this trend likely continuing throughout 2020, now is a great time to sell your house. THE EXISTING-HOME SALES REPORTThe most important data revealed in this report was not actually sales. In reality, it was the inventory of homes for sale (supply). The report explained: Total housing inventory at the end of August decreased 2.6% to 1.86 million homes available for sale. … (0 comments)
housing market: 3 Signs the Housing Market Is on the Rebound
- 10/03/19 10:39 AM
Shutterstock The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound: 1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth. 2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity. Here is the month-over-month growth: The Northeast rose 0.7% The Midwest increased 0.6% The South increased 1.4% The West grew 3.1% 3. Buyer Traffic (the number of people shopping for a home) is up compared to the same … (1 comments)
housing market: How Does the Supply of Homes for Sale Impact Buyer Demand?
- 09/30/19 11:43 AM
Shutterstock The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand). Buyer Demand The map below was created after asking the question: “How would you rate buyer traffic in your area?”The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S. states, buyer demand is … (2 comments)
housing market: Are You Ready for the ‘Black Friday’ of Real Estate?
- 09/25/19 08:15 AM
Photo: Yahoo Finance Every year, ‘Black Friday’ is a highly anticipated event for eager shoppers. Some people prepare for weeks, crafting and refining a strategic shopping agenda, determining exactly when to arrive at each store, and capturing a wish list of discounted must-have items to purchase. But what about buying a home? Is there a ‘Black Friday’ for the home-buying process? Believe it or not, there is. According to a new study from realtor.com, the week of September 22 is the best time of year to buy a home, making it ‘Black Friday’ for homebuyers. After evaluating housing data in 53 metros from 2016 to 2018, realtor.com determined that the first … (0 comments)
housing market: One of the Top Reasons to Own a Home
- 09/19/19 09:53 AM
Photo: Abodo One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and what you owe is called equity. If your home has appreciated since the time you purchased it, that increase in value also raises your equity. Over time, the equity in your home could be substantial. Recently, CoreLogic revealed that the average homeowner gained more than $65,000 in equity over the last 5 … (0 comments)
housing market: Home Prices Increase in Every Price Range
- 09/17/19 10:23 AM
Shutterstock CoreLogic’s Home Price Index (HPI) Report revealed, “National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.” They also analyzed four individual home-price tiers, showing the increase in each. Here’s the breakdown: To clarify the methodology, CoreLogic explains, “The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% of the median (high price).” What … (0 comments)
housing market: 6 Graphs Showing the Strength of the Current Housing Market
- 09/13/19 08:25 AM
Some Highlights: Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home. Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market. With the national data shown here, make sure to also determine what’s happening in your local market so you are fully informed when you’re ready to make your next move. We hope you found this information helpful. Contact us today for all your real … (0 comments)
housing market: What Is the Probability That Home Values Sink?
- 09/12/19 08:35 AM
iStock With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective. Here is a table showing the predicted levels of appreciation from six major housing sources: As we can see, every source believes home prices will continue to appreciate (albeit at lower levels than we have seen over the last several years). But, not one source is calling for residential real estate values to depreciate. Additionally, ARCH … (0 comments)
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