Some Highlights:The National Association of REALTORS® surveyed their members for their monthly 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 sold in 60 days or less in 36 out of 50 states, and Washington D.C.Homes typically went under contract in 34 days in March! … [Read more...]
3 Charts That Shout, ‘List Your Home Today!’
In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.SUPPLYThe National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.DEMANDEvery month NAR reports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. … [Read more...]
Thinking of Selling? Now Is the Time to Act
If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.Jonathan Smoke, Chief Economist at realtor.com, revealed in a recent article that:“The biggest … [Read more...]
The Importance of Using a Professional to Sell Your Home
When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. According to the National Association of … [Read more...]
Buying this Spring? Be Prepared for Bidding Wars
Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different!Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up with demand, which has lead to A LOT of competition for the homes that are available.A recent Bloomberg article touched on the current market … [Read more...]
15,014 Homes Sold Yesterday… Did Yours?
There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly.After all, 15,014 houses sold yesterday, 15,014 will sell today and 15,014 will sell tomorrow.15,014!That is the average number of homes that sell each and every day in this country, according to the National Association of Realtors’ … [Read more...]
Home Prices Up 6.15% Across the Country! [INFOGRAPHIC]
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!Alaska, Delaware, West Virginia & Wyoming were the only one states where home prices are lower than they were last year. … [Read more...]
Consumer Confidence in Economy & Housing is Soaring
The success of the housing market is strongly tied to the consumer’s confidence in the overall economy. For that reason, we believe 2017 will be a great year for real estate. Here is just a touch of the news coverage on the subject.HousingWire:“Consumers’ faith in the housing market is stronger than it’s ever been before, according to a newly released survey from Fannie Mae.”Bloomberg:“Americans’ confidence continued to mount last week as the Bloomberg Consumer Comfort … [Read more...]
How Low Supply & High Demand Impacts the Real Estate Market [INFOGRAPHIC]
Some Highlights:The concept of Supply & Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high!Anything under a 6-month supply is a Seller’s Market!There has not been a 6-months inventory supply since August 2012!Buyer Demand continues to outpace Seller Supply! … [Read more...]
The Foreclosure Crisis: 10 Years Later
CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the … [Read more...]
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