Real Estate Blog


Are House Prices Beginning to Accelerate Again? | Keeping Current Matters

In a recent post, we explained that the supply of homes for sale in December was at its lowest level in over a year. The January National Housing Trend Report from realtor.com now reveals that inventory in January has decreased another 6.7% month over month and 8.7% year over year. This is occurring at the same time that buyer activity (demand) remains strong.

This prompted realtor.com’s Chief Economist Jonathan Smoke to report:

“January’s inventory data suggest a continuation of the tightening trend we identified last month in the December data, and with a shortage of inventory typically comes increased home prices. Half of the 200 markets realtor.com tracks experienced year-over-year price increases of at least 6% in January.”

This

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Home Sales Are NOT Collapsing! | Keeping Current Matters

The National Association of REALTORS (NAR) just released their Existing Home Sales report and some have taken the results and ran with headlines like:

“Existing home sales collapse in January despite low mortgage rates”.

Let’s take a closer look at what the report really shows. There is a seasonality to home sales that happens every year, with a decline in January, (as shown in the graph below.) But in reality 200,000 more homes (3.2%) sold this January over last January.

Existing Home Sales Year-Over-Year | Keeping Current Matters

The demand for housing hasn’t been a challenge.

Current buyer demand, as shown in the graph below, is actually 3x greater than that of January 2014.

Buyer Activity | Keeping Current Matters

NAR’s Chief Economist, Lawrence Yun points to the real issue at hand:

“Realtors® are reporting that

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Thinking of Buying? What are you waiting for? | Keeping Current Matters

If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market

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At the risk of sounding cliche, the old adage “The early bird catches the worm” definitely applies to selling your home. Those who get started early tend to sell for more money in a shorter time.

There are three basic reasons.

Reason #1 - Buyers doing research in the winter months are generally more serious about buying soon. As the weather gets nicer, it tends to pull a lot of daydreamers into the process. On sunny days people like to drive around and “window shop.” It’s a pleasant way to pass the time, but unfortunately a lot of these folks don’t have serious intentions or can’t afford to buy anytime soon.

Reason #2 – Sellers who get started early tend to generate a higher sale price because they have more time to get their home in tip top

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