We have all seen the headlines that report that buying a home is less affordable today than it was at any other time in the last ten years, and those headlines are accurate. But, have you ever wondered why the headlines don’t say the last 25 years, the last 20 years, or even the last 11 years?
According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July).
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence.
The Austin Board of Realtors released new monthly housing data on Tuesday and, surprise, August was another one for the record books. The median home price for the City of Austin was $393,000.
Home shoppers are unwilling to negotiate on certain amenities, and prime among them are central air conditioning and a private patio or backyard, according to a new survey of more than 1,000 homeowners conducted by remodeling site Porch.com. On the other hand, prospective buyers are less likely to consider stainless steel appliances or a swimming pool as deal-breaking must-haves.
Renters and homeowners differ quite a bit in their priorities, the survey found. While homeowners ranked central air, private backyard areas, and guest bedrooms as high priorities, renters ranked central air, an in-unit washer and dryer, and pet-friendly building policies as their top amenities.
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year.
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from July 2017 to July 2018 (the latest data available).
f you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well ...
For the last several years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to home prices appreciating by an average of 6.2% annually since 2012.
With this being said, three of the four major reports used to measure buyer activity have revealed that purchasing demand may be softening. Here are the four indices, how they measure demand (methodology), what their latest reports said, and a quick synopsis of the report.
We all realize that the best time to sell anything is when the demand for that item is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that right now continues to be a great time to sell your house.
Let’s look at the data covered in the latest Pending Home Sales Report and Existing Home Sales Report.
Here are four great reasons to consider buying a home today instead of waiting.