Tag Archive: Housing Market Updates
- Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million.
- January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900.
- NAR’s Chief Economist, Lawrence Yun had this to say, ‘Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home.’
Permanent link to this article: http://www.communityrealtyohio.com/blog/existing-home-sales-reach-highest-mark-since-2007-infographic/
Is spring closer than we think? Depending on which groundhog you listen to today, you may have less time than you think to get your home on the market before the busy spring season.
Permanent link to this article: http://www.communityrealtyohio.com/blog/no-matter-what-the-groundhog-says-here-are-5-reasons-to-sell-before-spring/
The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Permanent link to this article: http://www.communityrealtyohio.com/blog/buyer-demand-is-outpacing-the-supply-of-homes-for-sale/
- 45 million existing homes were sold in 2016! This is the highest mark set since 2006.
- Inventory of existing homes for sale dropped to a 3.6-month supply, the lowest level since NAR began tracking in 1999.
- The median price of homes sold in December was $232,200. This is the 58th consecutive month of year-over-year price gains.
Permanent link to this article: http://www.communityrealtyohio.com/blog/sales-at-highest-pace-in-10-years-infographic/
According to ATTOM Data Solutions’ 2017 Rental Affordability Report, buying a home is more affordable than renting in 354 of the 540 U.S. counties they analyzed.
Permanent link to this article: http://www.communityrealtyohio.com/blog/buying-a-home-is-more-affordable-than-renting-in-66-of-us-counties/
- CoreLogic’s latest Home Price Index shows that prices rose by 7.1% across the United States year-over-year.
- With mortgage interest rates rising in the short term, CoreLogic believes price appreciation will slow to 4.7% by this time next year.
- 49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation.
Permanent link to this article: http://www.communityrealtyohio.com/blog/prices-rose-7-1-year-over-year-infographic/
The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.
Permanent link to this article: http://www.communityrealtyohio.com/blog/year-over-year-sales-increases-reach-double-digits-in-5-price-categories/