In June, the National Association of Realtors saw the median existing-home price for all housing types hit a new all-time high. Sales, however, continued to decline — they're down 2.2% from a year ago. This discrepancy between prices and sales is a clear reminder that we're in the midst of an inventory shortage and affordability [...]
At the end of 2017, we were able to look at the past year and see that existing-home sales were up 1.1% from 2016—and it was the best year for sales since 2006. January 2018 looked a little bit different, though. Existing-home sales are 4.8% below levels from a year ago and are at the [...]
Now that we're almost a full month into 2018, we can look back at the end of 2017 and get some perspective on the year. Overall, 2017 was a great one for existing-home sales. It was up 1.1% from last year and was the best year for sales since 2006. One interesting part of the [...]
Was the U.S. housing market something you said you were thankful for at the Thanksgiving table? If not, it should have been! According to Realtor.com, sales in November were 3.8% higher than a year ago and were at their strongest pace since December 2006. The regions with the lowest median home prices also saw the [...]
When it comes to the housing market, there are many factors to consider when making predictions. First, there are many housing markets not just one. Secondly, other more general factors outside of the housing market itself, like population growth, the cost of renting. actual affordability based on current incomes, possible changes in tax policy, changes to lending guidelines, even world events, make it difficult to accurately predict what the 2018 housing market may look like.
In September, we saw existing home sales rise for the first time in three months. Then, in October, the market got even hotter with existing home sales increasing to their strongest pace since earlier this summer. However, supply and demand weren’t quite in sync—there were fewer closings on an annual basis for the second straight month due to supply shortages.
Now that the economy is back on track, why is it that potential homebuyers once again find themselves in a sellers’ market?