Housing Market Updates Archives - Page 2 of 3 - J.P. Cook

In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise. SUPPLY The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply

Instant Reaction: March Jobs Report

April 7, 2017

Housing Market Updates

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The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics’ report on employment conditions in March: “The soft hiring seen in March is not too concerning and likely a single month aberration. The recent high levels of voluntary quitting, presumably because of better job opportunities elsewhere, will lead

Buying this Spring? Be Prepared for Bidding Wars

April 5, 2017

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

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Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different! Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is

15,014 Homes Sold Yesterday… Did Yours?

April 4, 2017

For Sellers, Housing Market Updates, Pricing

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There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… If it hasn’t sold yet, maybe it’s not priced properly. After all, 15,014 houses sold yesterday, 15,014 will sell today and 15,014 will sell tomorrow. 15,014! That

Consumer Confidence in Economy and Housing is Soaring

March 30, 2017

For Buyers, For Sellers, Housing Market Updates

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The success of the housing market is strongly tied to the consumer’s confidence in the overall economy. For that reason, we believe 2017 will be a great year for real estate. Here is just a touch of the news coverage on the subject. HousingWire: “Consumers’ faith in the housing market is stronger than it’s ever

How Low Supply and High Demand Impacts the Real Estate Market

March 29, 2017

For Buyers, For Sellers, Housing Market Updates, Infographics

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Some Highlights: The concept of Supply & Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high! Anything under a 6-month supply is a Seller’s Market! There has not been a 6-months inventory supply since August 2012!

The Foreclosure Crisis: 10 Years Later

March 23, 2017

Distressed Properties, For Buyers, For Sellers, Foreclosures, Housing Market Updates

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CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day. With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire

What Are the Experts Saying about Mortgage Rates?

March 22, 2017

First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers

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Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying: Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center: “In 1984, 1994, 2000, and 2013, every

Which Homes Have Appreciated the Most?

March 16, 2017

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers

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Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year. The CoreLogic report

A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture

March 15, 2017

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers

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The inventory of existing homes for sale in today’s market was recently reported to be at a 3.6-month supply according to the National Association of Realtors latest Existing Home Sales Report. Inventory is now 7.1% lower than this time last year, marking the 20th consecutive month of year-over-year drops. Historically, inventory must reach a 6-month