Yesterday, we ran a post quoting major housing experts on the increasing strength of the U.S. housing market. We were pleasantly surprised that, on the same day, the Wall Street Journal decided to run a front page story titled, “Housing Recovery Picks Up Steam”(article available to WSJ subscribers).
The first paragraph of the article says it best:
“Home prices are back to near-record highs across the U.S. amid rising demand and supply constraints, a sign that the lopsided housing-market recovery of the past five years is gaining some strength.” (emphasis added).
What about the struggles in the economy? Some openly question how the real estate market can be gaining ground if the overall economy is still struggling. According to the WSJ, it is:
“Despite the unbalanced recovery, Federal Reserve officials have seen housing as a bright spot for the U.S. economy in recent years. Residential construction has contributed to overall economic output for eight straight quarters, expanding at a 17% annual rate in a first quarter marked by slow growth in other sectors.”
Bottom LineThe housing market is gaining strength and all indicators point to an even stronger real estate market moving forward.
Article by The KCM Crew
If you are thinking of selling this year, call us at 321-765-3222 to sell your home or to buy your new home! www.YourCornerstoneRealEstate.com
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If you are one of the many homeowners out there who are debating putting their house on the market this year, don’t miss out on the great opportunity you have right now!
The latest Existing Home Sales Report from The National Association of Realtors (NAR), reveals that the inventory of homes for sale has dropped to a 5.1-month supply.
Historically, a 6-month supply is necessary for a ‘normal’ market, explained below:
There are more buyers that are ready, willing and able to buy now, than there has been in years! The supply of homes for sale is not keeping up with the demand of these buyers.
Home prices are appreciating in this seller’s market. Listing now will give you the most exposure to buyers who will be competing against each other to buy your house. If you are thinking of selling this year, call Ron 407-222-7022 to sell your home or to buy your new home! www.YourCornerstoneRealEstate.com
Article by The KCM Crew
Every seller wants to get the best price for their house. We learned in high school that the best price for any item will be determined by the demand for that item relative to the supply of that item.
We have reported that the inventory of houses for sale is well below normal numbers.
There is historical evidence that the demand for housing is about to increase dramatically. Each year, more homes sell in May, June, July and August than any other four months of the year. Here is a graph of home sales last year by month:
You want to make sure your house is available for sale during peak selling season. If you are thinking of selling this year, call Ron 407-222-7022 to sell your home or to buy your new home! www.YourCornerstoneRealEstate.com
Article by The KCM Crew
Consumer optimism toward the housing market gained some momentum in January following a dip in December, likely getting a boost from their increasingly positive financial outlook, according to results from Fannie Mae's January 2015 National Housing Survey™. The share of respondents who said their household income is significantly higher than it was 12 months ago rose 4 percentage points to 29 percent, and the share expecting their personal financial situation to improve over the next year increased to 48 percent – both all-time survey highs.
After dropping in December, attitudes toward purchasing a home have improved:
• The share who said it is a good time to buy a homeincreased 3 percentage points to 67 percent.
• The share saying they would buy rather than rent if they were to move jumped 5 percentage points to 66 percent.
• This marks the first increase since September 2014.
"Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "Consumers are more optimistic about the environment both for buying and for selling a home today and the share who plan to own on their next move has jumped back up, reversing a three-month trend toward renting. These results are in line with lender optimism about future growth in their mortgage origination business, as shown in our Mortgage Lender Sentiment Survey™."
Overall, these are good signs to start off 2015 and are consistent with our expectation that strengthening employment and economic activity will boost the speed of the housing recovery. Fannie Mae's monthly national consumer attitudinal survey report provides indicators offering a window into the opinions of Americans across the country. These behavioral insights convey what consumers think about the outlook for owning and renting a home and about their household finances, and may serve as key inputs for determining the future course of investment across housing types. Find the full release here with highlights from the survey results. Article provided by HomePath® Agent Matters - March 2015
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