Thanks to lower prices and record low interest rates 2012 will set the housing affordability record. The National Association of REALTORS© reported its November affordability index and the association is expecting the 2012 numbers to end up at 194 which is up from 2011’s record setting index of 186. This will be the highest number […]
In the News: Buyers are expected to stay in their homes even longer today than ever before. Between 1985 and 2007, the typical buyer could be expected to stay in their home 12 years. Data collected from the 2011 American Housing Survey (AHS) shows that home owner mobility has declined since 2007. Based on these […]
Q: Denise, I hear you talking about a reduction in inventory, yet in my area we have seen the number of homes on the market increase … Are you sure inventory numbers are going down? A: Yes, nationally these numbers are going down, but remember, real estate is local. You may be in an area […]
The latest release from the Census Bureau’s Manufacturing and Construction Division shows that the annual rate of starts in building five or more units was 285,000. This is an increase from October and is currently the highest this measure has been since July, 2008. It is still not as high as the multi-family housing boom […]
With inventory shortages happening all over the country, builders are getting a jump-start on the demand. According to CNN Money, housing starts are the highest they have been in four years. October had a 3.6% increase over September, and it appears new construction is indeed gathering steam. Interestingly enough, although single-family residence numbers didn’t change much […]
The 55 plus market is showing strong signs of recovery. There are three segments of the 55 plus market which include: single family housing, multifamily housing and rental housing. In the 3rd quarter of 2012 the single family segment showed significant improvement in the demand for new homes. The 2012 55 plus index tripled over […]
HOUSING MARKET SHOWS CONTINUAL IMPROVEMENT The National Association of Home Builders reported that the list of expanding markets has increased by 22 to a total 125 markets. The Improving Markets Index (IMI) identifies improvement in metropolitan areas in single family housing permit growth (US Census Bureau), employment (Bureau of Labor Statistics), and house price appreciation […]
Q: Denise, it’s “multiple offer madness” in my marketplace and I’m not sure how to prepare my clients for what will happen. I’ve only been in business a couple of years, so I haven’t had to face this before. Help! A: Multiple offers sound great if you’re representing a seller, and are a source of worry […]
Specifically, that mysterious, much-talked-about “shadow inventory” –the boogeyman that every analyst out there is scaring the pants off consumers by talking about! Large amounts of shadow inventory were created as a result of the mortgage meltdown which occurred in 2007 and 2008… and the collapse of the housing market which followed. Record number of homeowners […]
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