Wednesday, April 3, 2019 / by Hayley Baker
Homebuyers Shouldn’t Worry About 2008 All Over Again
Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing market.
Two major takeaways from the survey:
42% believe a recession will occur this year or next (another 16% said 2021)
59% believe the housing market would fare the same or worse than it did in 2008
Why all the talk about a recession recently?
Over the last year, four separate surveys have been taken asking when we can expect the next recession to occur:
The Pulsenomics Survey of Market Analysts
The Wall Street Journal Survey of Economists
The Duke University Survey of American CFOs
The National Association of Business Economics
70% of all respondents to the four surveys believe that a recession will occur in 2019 or 2020 with an additional 18% saying 2021. ...
Friday, February 22, 2019 / by Nicole Solari
4 Reasons Why We’re Not Headed For Another Housing Crash
With home prices rising in many areas of the country, many people are worried that we’re headed for a housing crash like the one we suffered in 2008.
But here’s the thing: it’s just not true. While it’s understandable that people would look at the current market, consider it a “housing bubble,” and assume it’s going to pop, the truth of the matter is the market today couldn’t be any more different than they were before the crash of 2008.
Let’s take a look at four reasons why we’re not headed for another housing crash:
1. Banks have tightened their lending practices
The biggest contributor to the crash of 2008 was risky lending practices. Financial institutions had extremely loose standards in terms of who they’d lend to; they were giving out mortgages to people with low incomes, bad credit, and who were unlik ...
Monday, May 7, 2018 / by Nicole Solari
We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained historically low which has allowed many buyers to enter the market.
As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.
The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months.
What Does This Mean as a Buyer?
If home prices appreciate by 5.2% over the next twelve months as ...
Friday, May 4, 2018 / by Nicole Solari
According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.
For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:
ATTOM even went a step further and broke their results down by day.
Top 5 Days to Sell:
June 28th – 9.1% above market
February 15th – 9.0% above market
May 31st – 8.3% above market
May 29th – 8.2% above market
June 21st – 8.1% above market
It should come as no surprise that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two mon ...
Tuesday, May 1, 2018 / by Nicole Solari
According to the latest Existing Home Sales Report from the National Association of Realtors, sales grew 1.1% in March to an annual pace of 5.60 million.
This is the strongest pace since November of 2017.
Inventory levels dropped year-over-year for the 34th consecutive month and are now 7.2% lower than March 2017 levels, representing a 3.6-month supply.