Realtor.com®: Housing Boom Is Officially Back

Realtor.com®: Housing Boom Is Officially Back
article by Daily Real Estate News | November 13, 2017

Housing prices have returned to the “boom levels” of a decade ago, but this time around, the fast appreciation is being fueled by strong supply-and-demand dynamics rather than predatory lending practices, investor speculation, and too much construction, according to new realtor.com® data released Monday.

appreciationchart“As we compare today’s market dynamics to those of a decade ago, it’s important to remember rising prices didn’t cause the housing crash,” says realtor.com® Chief Economist Danielle Hale. “It was rising prices stoked by subprime and low-documentation mortgages, as well as people looking for short-term gains—versus today’s truer market vitality—that created the environment for the crash.”

The national median price for a home in 2016 was $236,000—2 percent higher than in pre-recession 2006—according to realtor.com®. Out of the country’s 50 largest housing markets, 31 have returned to their levels during the last housing bubble. Realtor.com® researchers finger Austin, Texas, as the city that has posted the largest increases in home prices—63 percent—over the past 10 years. Denver and Dallas have also seen some of the biggest gains, at 54 percent and 52 percent, respectively. On the other hand, three markets remained more than 20 percent below their 2006 highs: Las Vegas (25 percent below); Tucson, Ariz. (22 percent); and Riverside, Calif. (22 percent).

cityappreciation

Source: realtor.com®; REALTOR® Magazine Online, Daily Real Estate News 111317


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Buyers Find More Housing Options This Spring

Buyers Find More Housing Options This Spring
Article by Daily Real Estate News | April 18, 2014

The number of homes for sale is on the rise, a long-awaited welcome to home buyers who are finding more selection than last spring and less competition, according to realtor.com®’s National Housing Trend Report for March of the 146 markets it tracks.

Inventories of for-sale homes on realtor.com® in March increased 9.5 percent higher than year ago levels, according to the report. The median list price is $199,900 – 5.3 percent higher than in March 2013. The median age of inventory has also risen – 22.9 percent above year ago figures to a median of 102 days on the market.

“These figures suggest that the market is more balanced than it was in 2013, when a shortfall in available supply led to double-digit increases in many markets’ housing prices,” according to the realtor.com® report. “Having more homes on the market may mean more affordable prices for first-time and move-up buyers. Lack of inventory in 2013 led to intense competition, creating another barrier to home ownership.”

Bidding wars were frequent last year and caused prices to rise and become out of reach to some first-time home buyers who could barely save for a down payment, says Steve Berkowitz, CEO of Move, Inc.

“While inventory is still low, the continuing annual lift in the number of homes on the market that we’ve seen over the first months of 2014 is an indicator that buying conditions this year may be notably improved from the frenzied pace of last spring,” says Berkowitz.

Source: “Realtor.com Report: Higher Inventory a Welcome Sign for Spring Buyers,” realtor.com (April 17, 2014); Daily Real Estate News

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate|marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
kennethbargers.com blog | www.pilkertonrealtors.com web

2 Cadillac Drive, Brentwood TN 37027 address

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