Tandy On Real Estate

Tag

homebuyers

NAR HOME survey says 71 percent of homeowners believe it’s a good time to sell

The National Association of REALTORS® released their quarterly Housing Opportunities and Market Experience (HOME) survey yesterday, and “71 percent of homeowners believe it’s a good time to sell.”

This is not surprising with the rising home prices.  This is up from 69% last quarter and 61% more than a year ago.

The survey also revealed that 42 percent of respondents believe homes are affordable for almost all buyers, with those living in the Midwest being the most likely to believe homes are affordable (55 percent) — and not surprisingly — West respondents (29 percent) being least likely to think homes are affordable. And, 20% would consider moving to a more affordable community. Twenty-seven percent of these buyers make under $50,000 a year versus 16% who make more than $100,000.

According to Lawrence Yun, NAR chief economist, in the NAR press release “it’s apparent there’s a mismatch between homeowners’ confidence in selling and actually following through and listing their home for sale. There are just not enough homeowners deciding to sell because they’re either content where they are, holding off until they build more equity, or hesitant seeing as it will be difficult to find an affordable home to buy. As a result, inventory conditions have worsened and are restricting sales from breaking out while contributing to price appreciation that remains far above income growth.

Yun went on to say, “Perhaps this notable uptick in seller confidence will translate to more added inventory later this year. Low housing turnover is one of the roots of the ongoing supply and affordability problems plaguing many markets.

Click here to see the full press release on the survey’s findings, or here for the full survey.

To receive Tandy on Real Estate updates direct to your inbox, please subscribe.

SOURCE:
https://www.nar.realtor/news-releases/2017/06/71-percent-of-homeowners-believe-it-s-a-good-time-to-sell-economic-and-financial-confidence-dips
https://www.nar.realtor/infographics/home-survey-june-2017
https://www.nar.realtor/reports/2017-q2-homeownership-opportunities-and-market-experience-home-survey

 

 

 

It’s February – best bargains for homebuyers!

Can you believe it is February already? 2017 is flying by already. February tends to be a seasonally slow month for real estate. As we hit February 1st, homebuyers should be on the lookout for home price bargains. Per ATTOM Data Solutions, February is the best month for homebuyers to buy a home at a discounted rate. ATTOM data solutions looked at more than 50 million single family and condo sales for the past 16 years to determine the numbers of sales, median sales prices, and calculated the discount/premium against the annualized sales price. In their findings, “Homes in February sold at a price per square foot that was 6.1% less than the rest of the year on average – the biggest discount of any month of the year.”

Check out the ATTOM infographic for the details on the best bargain months.

It is not a strange coincidence that the first four months of the year are also in the Top 4 list of the best month to purchase a home at a bargain. We in real estate know that real estate is seasonal. November – January are typically slow due to the holidays. As the new year rolls in sellers who have homes on the market tend to get a little impatient, which could be why home prices decrease. In the early part of the year the spring and summer frenzied selling seasons have not yet hit, but more people begin to list their homes making it a more competitive buyer’s market.  Then comes the summer when buyers and sellers want to complete a move before school which helps drive peak activity and increase home prices. 

Let’s bring on the real estate seasons.

To receive real estate updates direct to your inbox, please subscribe today.

SOURCE:
http://www.realtytrac.com/news/home-prices-and-sales/why-february-is-the-best-month-to-buy-a-home/
http://www.attomdata.com/
http://static.realtytrac.com/images/reportimages/infographic_best_month_to_buy.png http://www.themreport.com/daily-dose/01-30-2017/homebuyers-adore-february

 

© 2017 Tandy On Real Estate — Powered by WordPress

Theme by Anders NorenUp ↑