- Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006.
- The inventory of existing homes for sale has dropped year-over-year for the last 30 consecutive months and is now at a 3.4-month supply.
- Chief Economist Lawrence Yun had this to say: “Faster economic growth in recent quarters, the booming stock market and continuous job gains are fueling substantial demand for buying a home as 2017 comes to an end.”
Where Are the Home Prices Heading in the Next 5 Years?
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Find Home
Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
The results of their latest survey:
Home values will appreciate by 4.4% over the course of 2017, 3.4% in 2018, 2.8% in 2019, 2.7% in 2020, and 2.8% in 2021. That means the average annual appreciation will be 3.22% over the next 5 years. Find Home
The Impact Your Interest Rate Makes
- Interest rates have come a long way in the last 30 years.
- The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford if you plan to stay within a certain budget.
- Interest rates are at their lowest in years… RIGHT NOW!
- If buying your first home, or moving up to the home of your dreams is in your future, now may be the time to act! Find Home
Median Days on the Market Drops to 27!
- The National Association of REALTORS® surveyed their members for their monthly Confidence Index. Find Home
- The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. Find Home
- Homes sold in less than a month in 24 out of 50 states, and Washington D.C. Find Home
- Homes typically went under contract in 27 days in May! Find Home
The Impact of Homeownership on Family Health
The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’The study confirmed a long-standing belief of most Americans: Find Home
“Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.” Find Home
Today, we want to cover the section of the report that quoted several studies concentrating on the impact homeownership has on the health of family members. Here are some of the major findings on this issue revealed in the report: Find Home
- There is a strong positive relationship between living in poor housing and a range of health problems, including respiratory conditions such as asthma, exposure to toxic substances, injuries and mental health. Homes of owners are generally in better condition than those of renters.