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Some Highlights:Existing home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million.Inventory of homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year.Median home sales prices rose to $247,700, 4.8% higher than a year ago and replaced the previous peak [...]
The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the summer as many real estate professionals are reporting bidding wars with listings actually selling above listing price. What about your house?If your house hasn’t sold, [...]
If you are debating listing your house for sale this year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes For SaleThe National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:“With demand holding firm and homes selling even faster than a year ago, [...]
Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days.Most [...]
According to a Merrill Lynch study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement.As one participant in the study stated:“In retirement, you have the chance to live anywhere you want. Or you can just stay where you [...]
Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.1. Price it a LITTLE LOWThis may seem counterintuitive. However, let’s look at this concept for [...]
Last week, the National Association of Realtors (NAR) released their Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings. The report revealed that this May’s numbers weren’t quite as good as the year before:“With last month’s decline, the index reading is still the third highest in the past year, but [...]
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Some Highlights:Sales of existing homes reached the highest annual pace in over 9 years at 5.29 million.Inventory remains below the 6-month norm and prices are still on the rise.Interest rates are at a historic low of 3.48%.Powered by WPeMatico
In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. One major challenge in such a market is the bank appraisal.If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the price when performing [...]