Tag Archives: housing market

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July 2016 RE/MAX National Housing Report

July NHR

Home Sales Warm Up With Summer Temps

With the market now in the midst of the popular summer selling season, both home sales and prices are rising with the summer temperatures. Homebuyer demand in June kept sales levels above last year’s by 0.7%, with a strong increase of 9.4% over sales in May. The Median Sales Price in June was $229,900, which marks a 2.2% increase over prices seen in June 2015. As year-over-year price increases moderate, there’s a positive impact on home affordability. The number of homes for sale in June fell 15.6% from levels one year ago, making inventory supply a significant challenge, especially in West Coast metros. At the rate of home sales in June, the national Months Supply of Inventory was 3.2, a slight improvement from the 3.0 supply seen in May.

Read the full article in RE/MAX’s Newsroom…

Watch the short video on YouTube…

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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.

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June 2016 RE/MAX National Housing Report

NHRJune2016

Homebuyer Demand Moves Market Higher

As homebuyer demand continues, May saw a 10.3% jump in sales over April and a 5.1% increase over May last year, which is slightly higher than the average year-over-year sales increase of 4.5% so far in 2016. The Median Sales Price in May was $222,475, a 4.2% rise from price levels one year ago and 3.5% above the median price in April. The inventory of homes for sale remains very tight in many markets across the country, with the May inventory 14.8% lower than May 2015. At the rate of home sales in May, the national Months Supply of Inventory was 3.0, down from 3.2 in April.

Read the full article in RE/MAX’s Newsroom…

Watch the short video on YouTube…

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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.

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May 2016 RE/MAX National Housing Report

May 2016 National Housing Report

With the 2016 home-buying season just starting, April sales saw a 7.5% increase over March and a 3.2% rise over April last year, which nearly matches the average year-over-year sales increase of 4.3% so far in 2016. The Median Sales Price in April was $215,000, which was 5.4% higher than one year ago and 7.5% above the median price in March. The inventory of homes for sale remains very tight in many markets across the country, with the April inventory 15.2% lower than April 2015. At the rate of home sales in April, the national Months Supply of Inventory was 3.2, down from 3.7 in March.

Read the full article in RE/MAX’s Newsroom…

Watch the short video on YouTube…

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April 2016 RE/MAX National Housing Report

April 2016 National Housing Report

The 2016 home buying season began in March with a 33.4% jump in sales from February among the 53 metro areas surveyed for the RE/MAX National Housing Report, which is a little better than the 31.0% seven-year average of February to March increases. March sales were also 3.6% greater than sales one year ago. So far in 2016, the average year-over-year increase in home sales has been 4.9%. The median price among the Median Sales Prices of the markets in the survey in March was $204,000, which was the same median price reported in March 2015. The inventory of homes for sale remains very tight in many markets across the country, with March seeing a level that is 13.3% lower than a year ago, the exact same difference seen in February. At the rate of home sales in March, the national Months Supply of inventory was 3.2, down from 3.7 in March 2015.

Read the full article in RE/MAX’s Newsroom…

Watch the short video on YouTube…

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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…

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March 2016 RE/MAX National Housing Report

March 2016 National Housing Report

As the popular home buying season approaches, February sales saw a jump from both January and last February. The year-over-year change was 4.8% and the increase over January was 5.8%, which is in line with the 5.2% average seen in each month of February since 2009.  Over the last 12 months, the average year-over-year increase in home sales has been 5.8%, and only two months, November and October, experienced sales that were not above year-ago sales. The Median Sales Price of all homes sold in February was $198,000 or 5.9% higher than the price in February 2015. Price increases have moderated over several months, with month-over-month declines seen in 6 of the last 12 months. The inventory of homes for sale remains very tight in many markets across the country, with February seeing a level that is 13.3% lower than a year ago. At the rate of home sales in February, the national Months Supply of inventory was 4.0, down from 4.7 in February 2015.

Read the full article in RE/MAX’s Newsroom…

Watch the short video on YouTube…

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The 25 strongest and weakest housing markets for 2016

United States

With the new year, it’s still not too late to identify where the strongest and weakest U.S. housing markets will be in 2016.

A new report from Veros Real Estate Solutions, a provider of enterprise risk management, collateral valuation services and predictive analytics, shows the vitality and expected market changes of the U.S. residential market for 2016.

The recently released VeroFORECAST quarterly national real estate market forecast for the 12-month period ending Dec. 1, 2016 shows where housing will be hot in 2016 and where it will be not so hot.

In all the top forecast markets, Veros’ report shows an appreciation in the 10% range, especially in the Pacific Northwest, such as California, Washington and Oregon. Popular housing markets in Texas like Dallas and Austin also made the list.

Read the full story…

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4 Must-Know Tips for Buying & Selling in 2016

Home

What do buyers and sellers need to know to be smart about the housing market in 2016?

“The 2016 housing market is forecasted to be mainly a seller’s market, filled with increasing home prices, relatively low inventory and fierce competition between buyers,” says Jonathan Smoke, chief economist for realtor.com®. “Buyers looking to close this year need to keep an open mind and be prepared to move quickly when they find a home that meets their needs. For sellers, it’s about understanding the ins and outs of their local market so they can optimize the price of their home and close quickly.”

Read the article…