Real Estate Recovery

By
Mortgage and Lending with Home Loans by Sean Young - New American Funding NMLS: 191647

Real Estate Recovery

Real Estate Recovery

There's no question we are finally in a full housing recovery. 

In order for a recovery to exist, three things have to happen: 
* Sales to increase from the bottom lows we we're at.

* Prices to have a turnaround.

* Inventory turnaround to a more normalized level.

In Sep of 2011 sales started to really take off and ever since that time we've been building from a sales standpoint. 

Prices made the turn in the middle of last year. Now we're positive every single month and getting a little bit better year‐over‐year than they were the month before. However, that's starting to abate right now.

The third thing that we were waiting for is when will inventory shift? As sales were really taking off, inventory wasn't coming to the market because people didn't really fully believe in a housing recovery yet. 

That caused prices to go up rather dramatically. But what we're starting to see is that inventory is starting to come back. 

As far as the recovery is concerned, sales are up for almost two years now, prices have been up now for about 15 to 18 months and the inventory since the beginning of the year is getting better. Not that it's where we need it to be, but it's getting much better. 

Posted by

Sean Young
Mortgage Loan Officer

Cell: 303.521.7169

www.mylendersean.com

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NMLS: 191647  / LMB: 100013240

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Comments (12)

Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

These results are so localized!  Prices in my town of Monroe NY didn't start to rise until very late last year, and our inventory never declined, but a few towns over, those results are very different!

Thanks for sharing!

Sep 18, 2013 09:20 PM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Every market is so different.

Sep 18, 2013 09:44 PM
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

Yes, every area is different and not all areas are doing as well as yours. As a country there are still many underwater homes that exist out there and those prices will need to really increase for those people to sell without doing a short sale. Inventory remains a buyers market for many areas all over the country. You are lucky that you are doing so well.

Sep 18, 2013 09:55 PM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Sean:  Good to see that your local market is doing better and seems on the path to recovery.  The Chicagoland area is finally ... finally ... beginning to see positives too.  Hopefully all areas of the country soon find the same positives and much less fragility ...

Gene

Sep 18, 2013 10:02 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Sean, every market is different. Let's hope the trend continues across the Nation.

Sep 18, 2013 10:21 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

There is still way to many underwater mortgages out there and quite a few investor held properties...My neck of the woods also suffers from high unemployment...A 7 year crash may take a few years to settle down...good post

Sep 18, 2013 10:51 PM
RJ Baxter
Fairway Independent Mortgage Corporation - Lakewood, CO
303-670-0137

Thanks for the awesome article Sean!

Sep 18, 2013 11:37 PM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Sean - thankfully for you and I and most of our clients, we are in the Denver market where in the past couple months we surpassed our previous high average home price set in 2006.

I read an article from another Activerain member  a month or so ago that showed Denver to be the best overall market in the country.

Sep 19, 2013 12:53 AM
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Sean,

We're in a good market right now, and the low inventory is slowly starting to build. Let's hope the politicians in DC don't screw it up somehow.

Rich

Sep 19, 2013 01:01 AM
Sean Young
Home Loans by Sean Young - New American Funding - Highlands Ranch, CO
Colorado loan officer

You are right, every market is unique and not everyone has had the same results. In Denver Metro we have had an incredible recovery, but that is not the case for the entire State. Any numbers used are from NAR. However, we are on the upswing and things are looking better. :)

Sep 19, 2013 01:10 AM
Drick Ward Property Management / Broker Assoc
NEPTUNE REALTY - Virginia Beach, VA
"RealtorDrick" - Experienced Representation

Different places, different results for certain

Sep 19, 2013 05:29 AM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
Sean - It looks like we're seeing a recovery especially with the Fed decision this week.
Sep 19, 2013 04:21 PM