There are some that think that housing affordability is a challenge. Historically, that’s not true. Others think that home prices are approaching bubble values. If we look back over the last sixteen years, that is also not the case. As a matter of fact, the numbers show that the U.S. residential real estate market is doing just fine.Here are two articles and excerpts that make this point:The Housing Market Is Finally Starting to Look Healthy – The NY Times“It has been an excruciatingly long time … [Read more...]
Home Values: DEFINITELY NOT in Bubble Range!!
There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today.The graph definitely looks like a rollercoaster ride. And, as prices begin to reach 2006 levels again, it “seems logical” that the next part of the ride would be downhill. However, this graph includes the anomaly of the price bubble and the … [Read more...]
How Supply & 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 supply of that item is low & 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 out-pace Seller Supply! … [Read more...]
Housing Market Slowing Down? Don’t Tell Builders!
Many experts have been calling upon home builders to ramp up construction to help with the lack of existing inventory for sale. For the past two months, new home sales have surged, with July’s total coming in at the highest since October 2007.The latest estimates from the US Census Bureau and Department of Housing and Urban Development show that sales in July were 31.3% higher than this time last year, and 12.4% higher than last month, at a seasonally adjusted annual rate of … [Read more...]
‘Old Millennials’ Are Diving Head-First into Homeownership [INFOGRAPHIC]
Some Highlights:‘Old Millennials’ are defined as 25-36 year olds according to the US Census Bureau.According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old.More and more ‘Old Millennials’ are realizing that homeownership is within their reach now! … [Read more...]
4 Stats That PROVE This Is NOT 2005 All over Again
Recent research by the National Association of Realtors (NAR) examined certain red flags that caused the housing crisis in 2005, and then compared them to today’s real estate market. Today, we want to concentrate on four of those red flags.Price to Rent RatioPrice to Income RatioMortgage TransactionsHouse FlippingAll four categories were outside historical norms in 2005. Home prices were way above normal ratios when compared to both rents and incomes at the time.NAR explained that mortgage transactions as a … [Read more...]
Real Life vs. Reality TV: 5 Myths Explained
Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV ‘show hole’*? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Flip or Flop,” “Property Brothers,” and so many more, just in one sitting. When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must … [Read more...]
Where Are Home Prices Headed Over the Next 5 Years?
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.The results of their latest survey:Home values will appreciate by … [Read more...]
What States Give You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]
Some Highlights:Thinking of moving across the country? How far will your money take you?The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states.The ‘Biggest Bang for your Buck’ comes in Mississippi where, compared to the national average, you can actually purchase $115.34 worth of goods for $100. … [Read more...]
Luxury Home Sales & the Impact of the Stock Market
In a recent post, CoreLogic looked at the correlation between stocks and the sales of upper-end properties ($1 Million+ sales price). The report revealed: “The powerful ‘wealth effects’ generated by the rapid rise in equities between 2009 and 2015 drove a large rise in the sales of homes that sold for $1 million or more.Historically, sales of homes priced $1 million or more averaged 1.2 percent of all home sales. The spread between high-end sales and equities widened during the housing bubble … [Read more...]
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