housingmarket: 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)
housingmarket: 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)
housingmarket: 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)
housingmarket: 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)
housingmarket: 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)
housingmarket: 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)
housingmarket: Home Sales Expected to Continue Increasing In 2020
- 09/09/19 09:46 AM
Shutterstock Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020. Below is a chart depicting the projections of each entity for 2019, as well as for 2020. As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe homes sales will increase steadily over the next year. If you’re a homeowner who has considered selling your house recently, now may be the best time to put it on the market. 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 … (0 comments)
housingmarket: Busting the Myth About a Housing Affordability Crisis
- 08/15/19 07:14 AM
It seems you can’t find a headline with the term “housing affordability” without the word “crisis” attached to it. That’s because some only consider the fact that residential real estate prices have continued to appreciate. However, we must realize it’s not just the price of a home that matters, but the price relative to a purchaser’s buying power. Homes, in most cases, are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by over a full percentage point since December 2018. Another major piece of the affordability equation is a buyer’s … (0 comments)
housingmarket: Appreciation Is Strong: It Might Be Time to Sell
- 08/07/19 07:10 AM
Shutterstock There’s no doubt that today’s housing market is changing, and everything we see right now indicates it is time to sell. Here’s a look at why selling now is likely to drive the greatest return on your largest investment. Home values have been appreciating for several years now, growing at a strong, steady, and impressive pace. In fact, the average annual appreciation rate since 2012 has nearly doubled the average rate from the more normal market of the 1990s (think: pre-bubble). Appreciation, however, is projected to shift back toward normal, meaning home prices will likely keep climbing over the next few years, but they are … (0 comments)
housingmarket: Existing Home Sales Point Toward a Good Time to Sell [INFOGRAPHIC]
- 08/02/19 09:02 AM
Some Highlights: Existing Home Sales dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June. Low inventory levels are still a factor in the market. The current supply of homes for sale is at 4.4 months, which is less than the optimal 6-month supply. Median home prices were up 4.3% from June 2018, hitting $285,700. This marked the 88th consecutive month with year-over-year price gains. 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 … (0 comments)
housingmarket: Why Now Is the Perfect Time to Sell Your House
- 07/31/19 10:10 AM
Shutterstock As a homeowner, it’s always tempting to dream about the next big project you’re going to tackle. The possibilities are endless. Should I renovate? Should I refinance? Should I stay? Should I move? The list goes on and on. In today’s housing market, it’s actually a great time to shift your thoughts toward selling your house and moving up into the home of your dreams. Here’s why: Inventory is on the rise, but there’s still an overall shortage of houses for sale (less than a 6-month supply found in a more normal market), so homes are going under contract quickly. In fact, the National Association of Realtors (NAR) Realtors® … (0 comments)
housingmarket: How to Increase Your Equity Over the Next 5 Years
- 07/30/19 10:31 AM
Shutterstock Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are the results from the Q2 2019 Survey: Home values will appreciate by 4.1% in 2019 The average annual appreciation will be 3.2% over the next 5 years The cumulative appreciation will be 16.8% by 2023 Even experts representing the most “bearish” quartile of the survey project a cumulative appreciation of over 6.7% by 2023 What does this mean for you?A substantial portion of family wealth comes from home equity. As the … (0 comments)
housingmarket: 3 Expert Insights On Inventory In The Current Market
- 07/29/19 10:30 AM
Shutterstock The current housing landscape presents greater home values, low interest rates, and high buyer demand. All of these factors point to the strong market forecasted to continue throughout the rest of the year. There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases during the summer months, but the current supply is not keeping up. Here is a look at what a few industry experts have to say:Lawrence Yun, Chief Economist at National Association of Realtors “Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices.” Mark Fleming, Chief Economist of First … (0 comments)
housingmarket: Home Prices Up 5.05% Across the Country [INFOGRAPHIC]
- 07/26/19 07:54 AM
Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more! 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 … (0 comments)
housingmarket: Lack of Listings Slowing Down the Market
- 07/23/18 08:51 AM
Download your HOME SEARCH app What’s my HOME WORTH in today’s market? As the real estate market continues to move down the road to a complete recovery, we see home values and home sales increasing while distressed sales (foreclosures and short sales) continue to fall to their lowest points in years. There is no doubt that the housing market will continue to strengthen throughout 2018. However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Here’s what a few industry experts have to say about the current inventory crisis:Lawrence Yun, Chief Economist for theNational Association of Realtors“Inventory coming … (0 comments)
Some experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could only be eighteen months away. The question is, what impact will a recession have on the housing market? Here are the opinions of several experts on the subject: Ivy Zelman in her latest “Z Report”: “While economic activity appears to have accelerated so far in 2018, some prominent economic forecasters have become more cautious about growth prospects for 2019 and 2020… All told, while solid long-term demographic underpinnings support our positive fundamental outlook … (1 comments)
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