The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains: “Last month saw
Housing Inventory Vanishing: What Is the Impact on You?
Existing home sales rose in May to the highest pace since November 2009, when buyers were rushing to make a tax-credit deadline, pointing to a continuing recovery. Existing-home sales rose 4.% in May to a seasonally adjusted annual rate of 5.18 million. These sales were 12.9% higher than during the same period in the prior
It seems like every few months there is more Federal government drama that is going to apparently threaten everyone’s livelihood and bring down the U.S. as we know it. While the sensationalism in the media can be overwrought at times, it does bring up some valid concerns, especially for the real estate market. What does
According to the latest release from the NWMLS, there was a 14.4% year-over-year increase in pending sales last month, and a 23.6% jump in closed sales. All the while the inventory dilemma has gotten even worse, if you can believe it, dropping to just 1.4 months. This is an insanely low number by any measure. At
Back in November, we commented that housing inventory had dropped to new lows in the fall with just 2.4 months of inventory. Reminder: housing inventory is calculated as a moving target, taking into account the average number of homes sold in a month and extrapolating that out based on how many total listings there are
The fireworks have gone off, the confetti was scattered and the party hats have been put away – which can only mean one thing: it’s time to jumpstart a new year. It looks like 2013 is going to have a lot in store for us, starting with real estate market predictions. 2012 in review: In