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

Some Highlights: Don’t forget to set your clocks forward this Sunday, March 12th at 2:00 AM EST in observance of Daylight Savings Time. Unless of course, you are a resident of Arizona or Hawaii! Every hour in the United States: 649 homes are sold, 177 homes regain equity (meaning they are no longer underwater on

Thinking of Selling? Do it TODAY!!

March 7, 2017

For Sellers, Housing Market Updates

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That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME! The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun, Chief Economist

Existing Home Sales Reach Highest Mark Since 2007

March 4, 2017

For Buyers, For Sellers, Housing Market Updates

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Highlights: 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

How Long Do Most Families Stay in Their Home?

March 1, 2017

Home Seller Tips, Housing Market Updates, Selling Your Home

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The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost

Buyers Are Searching For Your House

February 9, 2017

For Sellers, Housing Market Updates

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The most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecasted to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year

Buyer Demand Is Outpacing the Supply of Homes for Sale

February 8, 2017

For Buyers, For Sellers, Housing Market Updates

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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. Their latest edition sheds some light on the relationship between Seller Traffic (supply)

Lack of Homes for Sale Slowing Down the Housing Market

February 6, 2017

For Buyers, For Sellers, Housing Market Updates

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The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again. However,

No Matter What the Groundhog Says, Here are 5 Reasons to Sell Before Spring!

February 2, 2017

For Sellers, Housing Market Updates

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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. Many sellers feel that the spring is the best time to place their homes on the market as buyer demand traditionally

Sales at Highest Pace in 10 Years! [INFOGRAPHIC]

January 27, 2017

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

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Highlights: 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