2016 Home Sales Doing Just Fine!!
Some of the housing headlines are causing concern for some consumers who are in the process of either buying or selling a home. Pundits are concerned over the lack of new construction or the month-over-month sales numbers. Let’s set the record straight; 2015 was a good year for residential real estate in the United States […]
Continue reading
Sales Contracts Hit Highest Level in Months
The National Association of Realtors (NAR) just announced that the February Pending Home Sales Index reached its highest reading since July 2015. What is the Pending Home Sales Index (PHSI)? NAR’s PHSI is “a forward-looking indicator based on contract signings”. The higher the Pending Home Sales Index number, the more contracts have been signed by […]
Continue reading
3 Charts That Scream ‘List Your Home Today’
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 4.4-month supply. This is considerably lower […]
Continue reading
Gap Between Homeowner’s & Appraiser’s Opinions Widen
In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. One major challenge in such a market is the bank appraisal. If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the […]
Continue reading
Yes, Home Prices Are Rising. No, a New Housing Bubble is NOT Forming
We recently reported that home prices are continuing to rise across most of the nation. This has created concern in some pundits that a housing bubble, like we saw ten years ago, is forming again. We want to explain why these concerns are unfounded. The current increase in home values can be easily explained by […]
Continue reading