Almost half of all properties sold were on the market for less than a month in May 2015, according to the National Association of REALTORS®.
Category Archives: Buyers
Housing Bubble? Despite Rising Prices, Most Economists Still Say No
The S&P/Case-Shiller Home Price Index released recently was the latest report to show a relentless rise in housing prices, causing some economists to ask: Is another bubble forming?
According to Tuesday’s data housing prices have been climbing for 35 consecutive months, but economists pointed to several reasons why that isn’t a concern, namely that while prices keep rising the rate of growth has slowed. In the first three months of this year home prices gained 0.8%, according to the S&P Case-Shiller national index. That’s down from 2.8% in the first three months of 2013 and 1.2% during the same period of last year.
Home Prices Are Climbing Faster and Faster, but This Is Not a Bubble
This spring buying season is off to a strong start—in fact, prices are going up faster than they were just a few months ago, according to nearly every recent metric. So does that mean we’re in a bubble?
Nope, that’s just what happens when demand increases faster than supply. After all, existing-home sales were up 9% year over year in March, according to the National Association of Realtors®. Inventory is also increasing, but not as fast as sales, resulting in a tight supply getting even tighter.
The 5 Hottest Single-Family Markets Are…
The national housing market is regaining steam after a slowdown in late 2013 and early 2014 and a handful of areas are seeing a surge in home prices and sales growth.
Auction.com highlights the “hottest” major single-family markets based on current and expected future housing measures. Of the 49 largest U.S. markets, the five emerging at the top of the rankings have shown consistently strong demand, home price appreciation, and economic and demographic growth. Three of the top five ranking markets are located within the Southwest region, and two are located in the Southeast.
The 20 Most Active Housing Markets
Home buyers are turning out in markets across the country for the spring selling season, and some markets are seeing more action than others.
Homes are selling faster too. The median number of days on the market fell to 89 in March – 13 percent lower than a year ago.
The Top 10 Features for New Homes
The outdoor kitchen and two-story foyers are starting to lose favor among new home shoppers, while energy efficiency and bigger closets are gaining in popularity, according to a new survey from the National Association of Home Builders. NAHB asked builders to rank home features from 1 to 5 on how likely they were to include them this year in single-family homes they build this year.
Kirkland, Bellevue among nation’s priciest for high-end homes
If you own a home in Kirkland or Bellevue, you live in one of the nation’s top 10 luxury markets, according to a new report by Redfin. Though the Eastside cities rank high, they are nowhere near Miami Beach, where the average luxury home sold for $8.3 million in the fourth quarter of 2013.
Millennial Buyers May Need Parents’ Help
More millennials are finally leaving their parents’ homes to form their own households, but they may need financial help to do it.
A new report by consumer lender loanDepot shows that about two-thirds of parents – or 67 percent – will use savings to help their children buy a home. loanDepot surveyed 1,000 parents and 1,000 millennials (those between 18 and 38 years old) to find out about parents’ financial assistance in a home purchase.
Why Age 61 Is Important to Real Estate
By age 61, the majority of people feel free to choose where they most want to live, according to a new study by Merrill Lynch, “Home in Retirement: More Freedom, New Choices.”
“Throughout most of people’s lives, where they live is determined by their responsibilities,” according to the report. “Most careers demand that people live within a reasonable commuting distance from where they and/or their spouse work. However, as people enter their 50s and 60s, they begin to cross what this study reveals to be the ‘Freedom Threshold.'” That’s the age when people say they can finally choose where they want to live, according to the survey of more than 3,600 retirees.
Gen Y Shaping Housing Trends
Gen Y — those 34 and younger — make up 32% of home buyers. That’s a larger share than any other segment of buyers, according to NAR’s latest “Generational Trends” report. The percentage would be even higher if four factors weren’t working against younger buyers, says NAR Chief Economist Lawrence Yun. See highlights here. Dig into details on attitudes and incomes of each generation of buyers here.
Managing The Real Estate Details 