When entering the realm of real estate, it is essential to properly track the signs of a healthy market. It will help agents and clients to know when is the right timing in real estate. But, take it one step at a time. Read on to know the signs when the market is transitioning.
Sellers Still Thriving As Home Prices Stay High!
“Economic growth remains steady and is bolstering more segments of the economy.”Sam Khater, Freddie Mac’s chief economist
Is the Real Estate Market Cooling Down?
The real estate market appears to be cooling down just a bit after a record breaking spring. Existing home sales declined just slightly in May, but buyers’ interest remains strong as mortgage applications rise again. Meanwhile, many are asking whether lumber pricing will remain high? We take a closer look This Week in Real Estate.
“The market’s outlook is encouraging. “Supply is expected to improve, which will give buyers more options and help tamp down record-high asking prices for existing homes.”Lawrence Yun, National Association of Realtors, chief economist
Half of All U.S. Homes Are Selling Above List Price in May!
The seller’s market continues as half of all U.S. homes sell above list price in May. Meanwhile, buyers continue to capitalize on mortgage rates below 3% as we see solid job gains in May. I take a closer look This Week in Real Estate.
“We are seeing some early signs that the market has reached its maximum temperature.”Daryl Fairweather, Chief Economist, REDFIN
Five U.S. Housing Records Were Shattered in March!
The time isn’t the only thing springing forward this spring! Housing production jumped over 19% in March despite rising lumber and material prices. Homebuilder confidence is also on the rise as builders face strong demand from potential buyers. Meanwhile, 5 U.S. housing records were shattered in March. I take a closer look at your top real estate news This Week in Real Estate.
“NAHB’s forecast is for ongoing growth in single-family construction in 2021, albeit at a lower growth rate than realized in 2020.”NAHB Chief Economist Robert Dietz
Single Family Property Taxes in U.S. Jump 5.4 Percent in 2020!
The COVID-19 pandemic continues to shaped the housing market as homeowners get hit with a large property tax increase and the number of loans in forbearance programs decline drastically. Here’s a look at what’s topping the news This Week in Real Estate.
“Homeowners across the United States in 2020 got hit with the largest average property tax hike in the last four years, a sign that the cost of running local governments and public school systems rose well past the rate of inflation. The increase was twice what it was in 2019.”Todd Teta, chief product officer for ATTOM Data Solutions
Home Prices Topple Expectations, Surging at the End of 2020!
Home prices finish out 2020 by surpassing expectations as low supply continues to drive the market. Meanwhile, the rush to take advantage of historically low interest rates causes mortgage applications to spike at the end of January. We take a closer look at the top real estate market news This Week in Real Estate.
“While home price growth is expected to slow during 2021, it will remain high in the first half of the year and average growth for this year is expected to climb to 6.9%.”CoreLogic Home Price Index Report
U.S. Home Seller Profits Soar in 2020 as Prices Set New Records!
U.S. home seller profits are soaring, we take a look at the 2020 gains. Plus, the Fed plots a stable path ahead for mortgage rates, but will they remain low? And, there’s been a significant shift in interest for newly-built homes, what the latest Housing Trend Report is saying. We take a closer look This Week in Real Estate.
“Last year marked a unique year in the history of home prices and profits in the United States. A once-in-a-century health crisis tore through much of the nation’s economy but seemed to have the opposite effect on the housing market.”Todd Teta, chief product officer at ATTOM Data Solutions.
Real Estate Market is Booming Despite Pandemic!
Existing home sales and new construction permitting and starts reach their highest level since 2006, far surpassing what analysts predicted. Meanwhile, mortgage rates continue to hover at near record lows, below 3%. We take a closer look This Week in Real Estate.
“Home sales rose in December, and for 2020 as a whole, we saw sales perform at their highest levels since 2006, despite the pandemic.”said Lawrence Yun, chief economist National Association of Realtors
Real Estate in 2021: Plenty of Reason for Optimism
- Home sales are expected to rise by around 10% in 2021.
- Home prices will also climb, but more moderate increases should help first-time buyers get into the market.
- Mortgage rates will continue to be favorable, staying at near historic lows of 3% on average.
There is plenty of room for optimism in 2021 as the housing market is expected to continue its upward trend. We take a closer look at the year ahead This Week in Real Estate.
“During the pandemic, we learned that most people who work in offices could be just as productive at home, and this new reality will help fuel home sales in the post-pandemic economy.”said Lawrence Yun, chief economist National Association of Realtors