real estate markets: Reluctant "Move Up Buyers" May Slow Housing Recovery
- 09/24/12 10:54 PM
Considering the current record low interest rates and high affordability of real estate due to lower home values, the housing market should be booming. Instead, NAR recently reported that the inventory of for sale homes is down 24% from July 2011. Many real estate pros feel that this drop is due to the stalemate position of move-up buyers. The move-up buyers are those who bought homes with plans of "moving up", and now find themselves in a negative equity situation. Many that fall into that category also fall between the cracks when it comes to finding help from either a mortgage … (22 comments)
real estate markets: Where is Real Estate the Least Affordable?
- 09/06/12 03:23 AM
Perhaps you've heard the recent good news that the real estate slump is finally on the mend? A number of leading sources, such as The Wall Street Journal, Time Magazine, the NAR, Zillow, and more, have all recently reported that across much of the country, sales and appreciation rates are up. There are even a few hot spots where property prices have gone up quite a bit. Here's a look at several of the country's most expensive housing markets: Washington, DC - In the high-income areas in and around the nation's capital, home prices have typically always been higher than in many … (0 comments)
real estate markets: Americans Moving Towards Smaller Homes and Urban Environments
- 04/22/12 11:45 PM
Recent reports are showing an interesting change in the real estate market. It seems that the homeowners of today are leaning toward smaller, urban-based homes, rather than the expansive suburban developments that boomed in the past. According to a recent article posted on MSN.com's real estate blog, the Urban Land Institute provided evidence of a growing preference for smaller, more efficient living and presented this evidence at a recent Dallas conference. According to the article, "The new home buyer wants a smaller home in an urban area, as well as a shorter commute to work and smaller payments." City life may not … (1 comments)
real estate markets: Markets on the Rebound
- 04/09/12 03:00 AM
Six years after the 2007 housing market crisis, more than one hundred U.S. cities are experiencing strong market comebacks. According to a recent report published by the National Association of Home Builders/First American Improving Markets Index (IMI), 101 metropolitan areas showed steady improvement in housing permits, employment and home prices for six consecutive months. The 101 markets on the April IMI represent a net gain of two from March, with 13 new metros on the list. Texas and Florida dominated the IMI this month with 12 and 9 metros represented, respectively. The IMI diversity continued to expand this month, including newcomers … (1 comments)
Considering the current record low interest rates and high affordability of real estate due to lower home values, the housing market should be booming. Instead, NAR recently reported that the inventory of for sale homes is down 24% from July 2011. Many real estate pros feel that this drop is due to the stalemate position of move-up buyers. The move-up buyers are those who bought homes with plans of "moving up", and now find themselves in a negative equity situation. Many that fall into that category also fall between the cracks when it comes to finding help from either a mortgage … (22 comments)
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