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Tag Archives: housing market updates

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The Presidential Election and Its Impact on Housing

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Every four years people question what effect the Presidential election might have on the national housing market. Let’s take a look at what is currently taking place. The New York Times ran an article earlier this week where they explained:

“A growing body of research shows that during presidential election years — particularly ones like this when there is such uncertainty about the nation’s future — industry becomes almost paralyzed. A look at the last several dozen election cycles shows that during the final year of a presidential term, big corporate investments are routinely postponed, and big deals are put on the back burner.

The research is even more persuasive on the final year of an eight-year presidential term, when a new candidate inevitably will become president.”

We are seeing this take form in the latest economic numbers. However, will this lead to a slowdown in the housing market? Not according to Fannie Mae, Freddie Mac or the National Association of Realtors.

The Impact on Housing Throughout 2016

Let’s look at what has happened and what is projected to happen by these three major entities.

National Association of Realtors

“In spite of deficient supply levels, stock market volatility and the paltry economic growth seen so far this year, the housing market did show resilience and had its best first quarter of existing-sales since 2007.”

Freddie Mac

“Recent data darkened the growth outlook for the first quarter of 2016. However, despite the disappointing economic reports, we still forecast housing to maintain its momentum in 2016.”

Fannie Mae

“Consumers and businesses showed caution at the end of the first quarter…(but) Home sales are expected to pick up heading into the spring season amid the backdrop of declining mortgage rates, rising pending home sales and purchase mortgage applications, and continued easing of lending standards on residential mortgage loans.”

Bottom Line

Even during this election year, the desire to achieve the American Dream is greater than the fear of uncertainty of the next presidency.


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Top Reason to List Your House For Sale Now!

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If you are debating listing your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes For Sale

The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:

“While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.”

The latest Existing Home Sales Report shows that there is currently a 5.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and well below November 2014 numbers.

The chart below details the year-over-year inventory shortages experienced in 2015:

Housing Supply Year-Over-Year | Simplifying The Market

Anything less than a six-month supply is considered a “Seller’s Market”.

Bottom Line

Meet with a local real estate professional who can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy now!

Source: Simplifying the market


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October 2015 RE/MAX National Housing Report

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After a hot summer selling season, September home sales followed an expected seasonal trend and cooled off 8.6% lower than August, but were still 6.8% higher than September 2014. The number of completed transactions was the highest seen in the month of September since the RE/MAX National Housing Report began collecting data in 2008.

Click to download: http://rem.ax/1LQhHwN

oct_2015_housing_report


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New Home Sales Surge By 5.7%! [INFOGRAPHIC]

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New-Construction-STM

Some Highlights:

  • The median price of a newly constructed home is currently $292,700.
  • Sales are up 5.7% month-over-month and 21.6% year-over-year.
  • Many buyers are looking to new homes as an option due to the lack of inventory of existing homes for sale.

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SEPTEMBER 2015 NATIONAL HOUSING REPORT

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August home sales were 5.0% higher than August 2014 and were 27.6% greater than the sales in August 2008, the first month of the RE/MAX National Housing Report. Completed transactions in August were 11.4% lower than in July, which was the second best month for home sales since 2008,

Read the Full report!

SEPTEMBER_2015


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AUGUST 2015 NATIONAL HOUSING REPORT

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The number of July home sales was the highest of any July since the RE/MAX National Housing Report began in 2008 and the second highest of any month behind June. Completed transactions in July were 3.2% lower than in June, but 11.3% higher than sales in July 2014.

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