Housing Market Updates
Homeownership – How long? The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, over the last twenty years…
What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened. “A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real…
As housing prices continue to increase at levels greater than historic norms, some are concerned that we are heading for another crash like the one we experienced ten years ago. We recently explained that the lenient lending standards of the previous decade (which created false demand) no longer exist. But what about prices? Are prices…
Thinking of Selling Your Home? That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY! In a recent article by CBS News, they explained that the number of…
Two Real Estate Markets… Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two real estate markets. In the starter and trade-up home categories, there were significantly more buyers than there were homes for…
Housing Shortage… The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added): Mark Fleming, First American’s Chief Economist “The underlying fundamental issue is an overwhelming lack of supply… The…
Boomerang Buyers Ready to Re-Enter the Real Estate Market.. We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019…Boomerang Buyers. Recently, HousingWire…
Homeowner’s Opinion According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners opinion think there will be a “housing bubble and price correction” within the next 2 years. After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this…
Ready for a Change? 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, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty…
Real Estate Housing Shortage The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study on the housing shortage and a recent blog from JCHS revealed some of the more surprising aspects of the study. The first two revelations centered around the shortage of housing inventory…
![Existing Home Sales Surge into Summer [INFOGRAPHIC]](https://i0.wp.com/vanwierealestategroup.com/wp-content/uploads/2017/07/000697-0057-000773.jpg?resize=830%2C460&ssl=1)
Supply and Demand Some Highlights: Existing Home Sales reached their third highest mark this year in May. Inventory of homes for sale has dropped 8.4% since last year, marking the 24th consecutive month of year-over-year declines. NAR’s Chief Economist, Lawrence Yun had this to say: “Those able to close on a home last month are…
Supply & Demand Problem Plaguing New Construction Many real estate economists have called on new home builders to ramp up new construction production to help relieve the shortage of inventory of homes for sale throughout the United States. The added inventory would no doubt aid buyers in their search to secure their dream home, while…
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all…
RENT vs. BUY Debate In a blog post published last Friday, CNBC’s Diana Olnick reported on the latest results of the FAU Rent vs. Buy Index. The index examines the entire US housing market and then isolates 23 major markets for comparison. The researchers at FAU use a “‘horse race’ comparison between an individual that…
As we head into summer, it is a great time to review how the 2017 real estate market is doing so far. Here is what the experts are saying: Doug Duncan, Fannie Mae Chief Economist “Positive demographic factors should continue to reshape the housing market, as rising employment and incomes appear to be positively influencing…
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…
People often ask if now is a good time to buy a home, but nobody ever asks when a good time to rent is. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their 2017 first quarter median rent numbers. Here is a graph…