Posts from September 2020
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22
The Real Estate Market Continues to Climb
Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following:
- Housing Demand – Growth in online search activity
- Home Price – Growth in asking prices
- Housing Supply – Growth of new listings
- Pace of Sales – Difference in time-on-market
The index compares the current status "to the January 2020 market trend, as a baseline for pre-COVID market growth. The overall i...
16
Builders and Realtors Agree: Real Estate Is Back
When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit. Countless analysts predicted buyer demand would disappear and home values would depreciate for the first time in almost a decade. That, however, didn't happen. It appears the opposite is taking place.
After the bottom fell out of the real estate market immediately following the shutdown, it has come roaring back – and seems to still be gaining steam. Here's a look at two recent reports – one from the National Association of Home Builders (NAHB) and one from the National Association of Realtors (NAR) – showing this growing strength.
Builder Confidence Hits All-Time High
Last week, it was reported that applications for new home purchases with home builders wer...
16
Homebuyer Demand is Far Above Last Year's Pace
Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you've been thinking about selling your house, the coming weeks might just be the timing you've been waiting for.
According to the Pending Home Sales Report from the National Association of Realtors (NAR):
"Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth.
The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, ros...
15
Is Now a Good Time To Move?
How long have you lived in your current home? If it's been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers by the National Association of Realtors (NAR), in 2019, homeowners were living in their homes for an average of 10 years. That's a long time to time to be in one place, considering the average length of time homeowners used to stay put hovered closer to 6 years.
With today's changing homebuyer needs, especially given how the current health crisis has altered our daily lifestyles, many homeowners are reconsidering where they're at and thinking about moving to a home with more space for their families. Here's why it might be a great time to make that...