With all of the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it's logical to ask that question. Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis that has caused a pause in much of the economy and a major shutdown of many … (6 comments)
housing market: The Real Estate Market - The Economy - Housing - June 2017
- 06/23/17 12:08 PM
One of our favorite local lenders puts on a great market report. My favorite part this week is "The last laugh"... and notice the 27 median DOM for homes... WOW.. this is a SELLERS market still! Are you thinking of selling your home? Now is the time... Give us a call or send us an email today! We can tell you how much your home is worth and get it sold fast for top dollar! Are you interested in purchasing a home? Contact Shane today to get pre-approved and then give us a call so we can find you your dream … (0 comments)
housing market: Homes Are Selling Faster As Demand Picks Up
- 04/02/13 01:53 PM
Homes are selling faster as buyer demand picks up; leaving a very low supply of homes left for sale, according to the February MLS data figures from Realtor.com. Homes in February sold faster than in any February since 2007, according to the site. In February, homes were on the market for a median of 98 days—that’s down from 123 days in February 2011. In some markets, homes are spending even less than a month listed for sale, most notably in places like California. For example, in Oakland, Calif., homes spent a median number of 14 days on the market in February … (3 comments)
Who would have thought that we could be entering the home selling season with a headline which says there are not enough homes for sale? After all, analysts had warned that the shadow inventory of homes held by banks would weigh down the markets for years to come. Where did these millions of homes go? Many were foreclosed upon. Others were sold by short sale rather than going through the foreclosure process as foreign and domestic investors bought millions of bargains. Also, many others were modified to help homeowners to remain in their homes … (3 comments)
housing market: Increase In Number Of renters That Intend To Buy A Home In The Near Future
- 03/17/13 01:39 PM
Among renters who one day hope to own a home, a poll finds a dramatic increase in the number who now say that they intend to buy in the near future. Offering more evidence of a swing toward homeownership as the housing market continues to recover, the survey by PulteGroup reports that about 6 in 10 of those renters plan on buying a home in the next two years. That's a 60 percent increase among those potential homebuyers in the past year. The top reasons renters polled in the survey cited for wanting to buy in the near future were: … (3 comments)
housing market: Buyers are beginning to feel more positive about homeownership
- 12/30/12 09:20 AM
Buyers are beginning to feel more positive about homeownership than they were even six months ago, a recent survey by Trulia revealed. In fact, one in four surveyed consumers marked an increased confidence and 31% of renters plan to purchase a home within the next two years. Millennials, consumers ages 18 to 34, are often the most skeptical, as they’ve grown up during the years of boom and bust. However, of the Millennials polled, 93% plan to buy a home at some point. Interestingly enough, 43% of young adults are already homeowners. 2012 was the year of low housing inventory, … (2 comments)
housing market: Anderson SC Market Report For November 2012
- 12/21/12 10:36 AM
This November, there was a lot to be thankful for in Anderson SC. Home buyers were thankful for historically low mortgage rates and still affordable prices. Sellers were thankful for the increased sales, less competition and faster market times. Both parties can be thankful for the slow yet steady economic recovery. Challenges persist, to be sure, going into 2013, but there's more reason for optimism than pessimism. Here's the local scoop for Anderson SC for November 2012. Anderson Market Report for November 2012 … (1 comments)
housing market: Economy Gets A Boost In October and November
- 12/17/12 12:42 PM
The economy got a little boost in October and November that was mostly attributed to an increase in home sales and consumer spending, according to the Federal Reserve’s Beige Book. Nine of the Fed’s 12 regional banking districts showed growth during the time period. However, the Northeast had notably slow economic growth, which was mostly attributed to the impact of Hurricane Sandy, which struck the region in October. Economic growth was notably slower in New York, Philadelphia, and Boston, which the Beige Book also noted had a slowdown in sales of single-family homes and condos. Meanwhile, a rise in home prices … (3 comments)
housing market: What Will the Future Hold For Housing?
- 11/15/12 10:55 AM
Many who complained about the 'excess housing inventory' in the past several years seemed to forget that we have not been building enough houses to replace houses that become obsolete each year and keep up with demand. And now, we are looking at a shortage in housing inventory on top of that. Similarly, the election will have mixed effects upon the economy. The fourth quarter has been the recipient of billions of dollars in campaign spending, in and of itself a significant stimulus. Plus, a major uncertainty has been lifted. But what remains is figuring out whether Congress will remain deadlocked … (3 comments)
housing market: Positive Signs For The Housing Market!
- 11/05/12 11:22 AM
By the less-demanding standards of the past few years, the latest housing figures look pretty good. Prices have risen now for several consecutive months. Experts are especially impressed that prices of the least-expensive third of homes lead the gains. Those homes had received the worst drubbing in the recent housing market collapse. Is this the start of the long-awaited and elusive housing recovery… one that would bring a stronger economy overall? Or is the market just taunting us as it bumps along the bottom?
Several factors have combined to strengthen the market. Extraordinarily low rates have allowed millions of homeowners … (1 comments)
housing market: Optimism For Real Estate Market On Home Prices!
- 10/15/12 01:32 PM
A quarterly survey of more than 100 economists shows growing optimism for the real estate market when it comes to housing prices. The majority of the economists surveyed say they expect home prices to steadily increase for the next four years. The economists surveyed expect home prices to rise 2.3 percent this year over the fourth-quarter of 2011, according to the survey conducted on behalf of Zillow. In 2013, they expect prices to rise 4.7 percent; 8 percent in 2014; 11.4 percent in 2015; and 15.2 percent in 2016. 'This is further evidence that we're seeing a true recovery in the … (5 comments)
housing market: Interest Rates Are The Best They Have Been In 65 Year!!
- 10/12/12 12:48 PM
In 1982 interest rates were around 4 times higher than they are today!! Did you know that? That is 16.04% in 1982 vs. 3.375% ( 30 year fixed rate mortgage) today.WoW!! What a huge difference. This is the most affordable market in 65 years!! Take advantage of it! There has never been a better time to buy than NOW! … (3 comments)
housing market: Echo Boomers and the Housing Market
- 09/07/12 02:02 PM
The echo boomers — those born between the late 1970s and early 1990s — are expected to help drive a housing market recovery in the coming years, according to a new report by Harvard University’s Joint Center for Housing Studies. Already, this generation is outpacing the number of baby boomers who at the same age were home owners. Studies show that about 900,000 households are made up of echo-boomer home owners, which compares to 500,000 baby boomers who owned homes at the same point in their lives. About 31 percent of echo boomers have already made a recent home purchase, according … (3 comments)
housing market: Outdoor Spaces - A Way To Maximize Your Living Space
- 08/29/12 11:34 AM
Homeowners seeking to maximize living space are turning to the outdoors, treating it like another room in the house. A survey by Better Homes and Gardens magazine indicates that outdoor living and grilling areas rank right after separate laundry rooms and additional closets and storage in terms of importance. In addition to creating a resort-like atmosphere with outdoor grilling spaces, fire pits, and pools, some homeowners are raising livestock and planting vegetable gardens. They often use hedges to create privacy and jazz up the space with birdhouses, sculptures, and other accessories. More environmentally conscious homeowners plant native grasses and drought-tolerant … (6 comments)
housing market: Optimism Regarding The Housing Market Continues To Grow!
- 08/20/12 11:51 AM
While Americans are more pessimistic about the direction of the economy, their optimism regarding the housing market continues to grow, according to Fannie Mae’s June 2012 National Housing Survey. Low prices and record-low rates are helping to lift Americans’ views on housing, according to the survey. “While consumers remain cautious about the general economy, their attitudes toward the housing market continue to improve,” says Doug Duncan, Fannie Mae’s chief economist. “Although this positive trend may be short-lived if the general economy falters, one might ask whether consumers are increasingly seeing the current environment as a unique opportunity to buy a home … (3 comments)
housing market: Market Update - The Housing Market Is Starting To Recover
- 07/17/12 11:12 AM
The housing market is starting to recover. Prices are rising. Sales are increasing. Home builders are clearing lots and raising frames. The trend is clear in the data. The widely respected S.&P./Case-Shiller index reported recently that sales prices for existing homes rose in April for the first time this year. Several other measures, including a seasonally adjusted version of the index, show that price increases began in February. The pace of housing construction has increased. And the National Association of Realtors reported that pending home sales climbed to the highest level since the end of a federal tax credit for first-time … (3 comments)
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