Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. The graph below helps tell the story of just how different things are today. This year, […]
Lapeer MI Real Estate | Housing Inventory
Lapeer MI Real Estate, Housing Inventory, Donald Horne, Broker / OwnerTeam Success Listing LLC, “Professional Real Estate Services” The housing market will remain strong throughout 2020. Understand what that means to you, whether you’re buying, selling, or doing both … The real estate market in Lapeer is expected to do very well this year as […]
Housing Inventory Crunch Continues, List Your House Today! / Listing Agent
Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes. Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW! At the same time, however, […]
New Home Sales In Lake Orion Near 10 Year High
“positive reports show there is a need for new single-family homes…” New-home sales jumped to the highest level in nearly a decade, with sales of new single-family homes climbing 12.4 percent month-over-month and reaching a seasonally adjusted annual rate of 654,000, the Commerce Department reported Tuesday. That marks the highest level since October 2007. Low […]
Lapeer Housing Affordability Is Improving, slightly
“nearly one in five U.S. housing markets was not affordable by historic standards” … Eighteen percent of U.S. housing markets were less affordable than normal in the second quarter of 2016. That’s down slightly from affordability levels a year ago, when 20 percent of markets exceeded their normal affordability levels according to RealtyTrac. Their housing […]
Where Is All The Inventory?
The median price of existing homes is rising, but the increases don’t seem to be motivating many sellers or new-home builders, contributing to the growing lack of inventory in many markets. While NAR’s recent existing-home sales report showed January’s total housing inventory was up 3 percent from December, it was still lower than a year […]
Sales Make Gains But Prices “Rising Too Fast”
Existing-home sales kicked off 2016 on solid footing, according to the National Association of REALTORS®’ latest housing report, released Tuesday. Existing-home sales in January moved to their highest annual rate in six months, while constrained inventory levels also pushed home prices to their fastest increase since last April, according to the report. All regions in […]
Spring Buying Is On!
The infamous groundhog – Pennsylvania’s Punxsutawney Phil – may not only have the power to predict how many more weeks are left to winter but also the ability to predict the start to housing’s busiest time of year. Phil didn’t see his shadow on Groundhog Day, which, if superstition holds true, means that winter will […]
Housing Still More Affordable Than Pre-Bubble Years
Home prices may have been on the rise the last few years, but homes are still more affordable now than they were in the pre-bubble years, according to the latest Mortgage Monitor Report released by Black Knight Financial Services. Households are using 21 percent of the national median income to pay a mortgage on a […]
Don’t Wait! Buy This Winter!
Now that the U.S. has regained its job-creation mojo, as the October employment report showed, the demand for housing is only going to grow. After all, when people have jobs they can break off and form new households—ditching the roommates behind or finally moving out of Mom and Dad’s basement—and that’s what fundamentally drives home […]