The Top 20 Markets for June 2016

Top 20 Markets for June

The overall residential housing market is heating up this summer, but a markets in a few cities across the country are in a league of their own, notes Jonathan Smoke, realtor.com®’s chief economist.

Realtor.com®’s research team identified the hottest markets by factoring in which ones had the most views per listing on its website and saw the quickest inventory movement. In these markets, homes are selling 20 to 38 days faster than the rest of the U.S.

Once again, California dominates this month’s list, but eight other states are also represented (Texas, Colorado, Indiana, Ohio, Michigan, Washington, Massachusetts, and New Hampshire). Seasonality is a big factor in this month’s rankings, Smoke notes.

The 10 Best Markets for Millennials

Home

The road to home ownership has been a struggle for many young adults, mostly due to financial obstacles. However, some millennials may find more luck in less expensive metro areas that also have steady job growth and lower qualifying incomes necessary to purchase a home.

NAR recently analyzed employment gains, population trends, income levels, and housing conditions among the 100 largest metro areas to pinpoint the best purchase markets for millennial home buyers.

Read the article and see where Seattle lands on the list…

Baby Boomers Heading Back to the City

Planning

Unlike previous generations, many baby boomers aren’t planning their retirement in sunny southern locales. Instead, more are choosing to move back to metro areas they had left when they started raising a family in the suburbs.

Read the article…

Average Time to Close: 44 Days

New Homeowners

For the second consecutive month, the average time to close all loans stayed at 44 days, suggesting that new mortgage rules that took effect this fall are having less of an impact on delaying loans, according to Ellie Mae’s latest Origination Insight Report.

Read more…

National Housing Videos

National Housing Videos

Every month RE/MAX researches 53 major metropolitan markets and analyzes the data to get a pulse on the US housing market. Here’s a short video with some highlights from this month’s report. To view past months’ videos or catch up anytime, visit my YouTube channel.

Why Are Sellers Happier Than Ever and Buyers At Peak Grumpiness?

Open House

The number of home buyers who say now’s a good time to buy dipped to an all-time survey low in Fannie Mae’s latest Home Purchase Sentiment Index. Meanwhile, home owners who say now’s a good time to sell soared to an all-time survey high. Read on to find out why there’s such a disconnect.

3 Ways Sellers Can Show Off Outdoor Space

House 1

Take a close look at your listing from the eye of a home buyer. Are the bushes overgrown around the front windows? Has the mulch all washed away? Is the paint on the shutters fading?

These are the questions Jon Coile, chairman of the multiple listing service MRIS in Rockville, Md., asks in a recent column at The Washington Post that aims to help sellers examine the exterior of their homes. Here are some simple ways to solve common curb appeal issues:

  • Stick to similar plant groupings
  • Use visual markers
  • Show off the entertainment value

Read the complete article…

National Survey Shows RE/MAX Agents Average 2X the Home Sales of Other Agents

REMAX vs The Industry Revealed

It’s out! RE/MAX agents again claim the title of most productive among the national real estate brands. An analysis of the data contained in the 29th annual 2016 REAL Trends 500 survey shows that RE/MAX agents are more than twice as productive as the average of all other agents in the report. Productive agents, an unmatched global presence and the premier real estate brand. It all adds up to another banner year for RE/MAX agents and their clients!

Read the full article…

REMAX vs The Industry

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2016 Predicted to Be Housing’s Golden Year

Prices Rising

Officials from mortgage giant Freddie Mac have made a bold prediction: This year housing starts and home prices will reach their highest levels since 2006.

The main reasons behind its bullish forecast is low mortgage rates, an improving job market, and a gradual increase in housing supply.

“Housing markets are poised for their best year in a decade,” says Sean Becketti, Freddie Mac’s chief economist. “In our latest forecast, total home sales, housing starts, and home prices will reach their highest levels since 2006.”

Read more…