Nationally: Has the Inventory Crunch Begun to Subside?

Nationally: Has the Inventory Crunch Begun to Subside?
National Association of REALTORS® | July 30, 2018

Nashville June2018InventoryContract signings rose in all four major regions across the U.S. last month, a sign that dwindling home sales—which have plagued the market at an unusual time of year this summer—will reverse course in the coming months, the National Association of REALTORS® reports.

NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 0.9 percent month over month in June to a reading of 106.9. “After two straight months of declines in pending home sales, home shoppers in a majority of markets had a little more success finding a home to buy last month,” says NAR Chief Economist Lawrence Yun. “The positive forces of faster economic growth and steady hiring are being met by the negative forces of higher home prices and mortgage rates. Even with slightly more homeowners putting their home on the market, inventory is still subpar and not meeting demand. As a result, affordability constraints are pricing out some would-be buyers and keeping overall sales activity below last year’s pace.”

Despite last month’s rise, contract signings are still down 2.5 percent compared to a year ago, NAR reports. Nevertheless, Yun says the worst of the supply crunch may now have passed. In June, existing inventory was up slightly on an annual basis, marking the first increase in three years. Several large metros saw year-over-year surges in inventory levels last month:

  • Portland, Oregon.: +24 percent
  • Providence, Rhode Island: +20 percent
  • Seattle, Washington: +19 percent
  • Nashville, Tennessee: +17 percent
  • San Jose, California: +15 percent

“Home price growth remains swift, and listings are still going under contract at a robust pace in most of the country, which indicates that even with rising inventory in many markets, demand still significantly outpaces what’s available for sale,” Yun says. “However, if this trend of increasing supply continues in the months ahead, prospective buyers will hopefully begin to see more choices and softer price growth.”

Source: National Association of REALTORS®; REALTOR® Magazine 073018

U.S. News Reveals Best Places to Live List

U.S. News Reveals Best Places to Live List
U.S. News & World Report
article by Daily Real Estate News | April 11, 2018

Austin, Texas, ranked number one for the second year in a row as the top place to live in the United States, according to new rankings released by U.S. News & World Report. The magazine ranks the 125 largest metros based on affordability, employment prospects, and quality of life each year.

“When deciding on a place to settle down, it’s important to understand that where a person lives can impact their well-being,” says Kim Castro, executive editor at U.S. News. “The top-ranked places are areas where citizens can feel the most fulfilled socially, physically, and financially.”

The top 12 best places to live in 2018 are:

  1. Austin, Texas
  2. Colorado Springs, Colorado
  3. Denver, Colorado
  4. Des Moines, Iowa
  5. Fayetteville, Arkansas
  6. Portland, Oregon
  7. Huntsville, Alabama
  8. Washington, D.C.
  9. Minneapolis, Minnesota
  10. Seattle, Washington
  11. Nashville, Tennessee
  12. Grand Rapids, Michigan

Source: U.S. News & World Report; REALTOR® Magazine Online, Daily Real Estate News 041118

Markets with the Most Rapid Home Sales

Markets with the Most Rapid Home Sales
realtor.com   article by Daily Real Estate News | March 13, 2018

House 1034In some markets, homes are selling at record speeds. Realtor.com®’s research team scoured the listing data to find which markets are seeing the quickest sales, based on the median number of days on the market.

The number of days spent on the market is important for sellers and prospective buyers to know, says realtor.com®’s chief economist Danielle Hale.

“That info can give home buyers an idea of how much competition they face, how limited homes are in the market, and how quickly they need to make a decision if they find a home they like,” says Hale. For sellers, it can give them an idea of how long they may have to move elsewhere.

The median number of days on the market nationwide is dropping due to an imbalance in many places in the low supply of homes compared to high demand from buyers.

Out of the nation’s 300 largest metros, realtor.com®’s research team found that the following places saw the lowest number of days on the market for its homes for sale: (Note: realtor.com® limited its ranking to one metro per state for geographic diversity.)

  1. San Jose, CA.: 28.6 (median days on the market)
  2. Seattle, WA: 34.1
  3. Salt Lake City, UT: 38.2
  4. Denver, CO: 39.2
  5. Nashville, TN: 40.6
  6. Portland, OR: 44.3
  7. Boise, ID: 46
  8. Sioux Falls, SD: 46.8
  9. Omaha, NE: 47.2
  10. Minneapolis, MN: 47.3

Visit realtor.com® to find out where homes are lingering on the market the longest.

Source: “Where Homes Are Flying Off the Market—and Where They’re Lingering Longest,” realtor.com® (March 12, 2018); REALTOR® Magazine Online, Daily Real Estate News 031318

10 Cities That Have Changed the Most

10 Cities That Have Changed the Most
Article by Daily Real Estate News | October 23, 2017

Nashville MusicCityCenter
Music City Center, Nashville TN

The city of Austin, Texas, has been named the “most changed” in the country over the last decade, with the most dynamic transformations to its housing market, incomes, crime rates, and economy compared to any other large U.S. metro, according to a new analysis by MagnifyMoney, a subsidiary of LendingTree. In fact, several Texas cities topped the list of most evolved economies and housing markets in the last 10 years.

MagnifyMoney analyzed data from 2006 to 2016 for the 50 largest cities, factoring in commute times, incomes, housing prices, crime rates, and building permits, among other items. “Change isn’t necessarily a good or bad thing,” MagnifyMoney notes in a report on its findings. “Big growth in commute times and rents can be negative, but they can also be a function of positive developments like job and income growth. Similarly, places without as much change could be more attractive to people working their way up the salary ladder or those who are retired and living on fixed incomes, offering more affordable housing and less congestion.”

The following cities topped MagnifyMoney’s list as seeing the most dramatic change over the past 10 years:

  1. Austin, Texas
  2. Dallas-Fort Worth, Texas
  3. Houston, Texas
  4. Nashville, Tennessee
  5. Portland, Oregon
  6. Denver, Colorado
  7. Raleigh, North Carolina
  8. San Antonio, Texas
  9. Charlotte, North Carolina
  10. San Jose, California

Other cities have stayed virtually the same over the past decade, with Birmingham, Ala., being the least changed—falling on the bottom of MagnifyMoney’s list of 50 most changed cities. These metros rounded out the bottom five: Milwaukee (number 49), New Orleans (number 48), Buffalo, N.Y. (number 47), and Indianapolis (number 46).

See if your city ranked at the top or bottom of the “most changed” in the nation.

Source: “This Place Sure Has Changed: Which Cities Have Changed the Most?” MagnifyMoney.com (Oct. 19, 2017); REALTOR® Magazine Online, Daily Real Estate News 102317


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

The 10 Crowning Markets of the Spring Season

The 10 Crowning Markets of the Spring Season
Article by Daily Real Estate News | April 18, 2017

Which housing markets are emerging as top performers this spring season? Ten X, an online real estate marketplace vendor, factored in pricing, sales, affordability, permit activity, economic and demographic growth, and forward-looking data such as economic and population forecasts, to come up with a list of housing market champs for this spring.

They are listed below, along with year-over-year changes in seasonally adjusted median prices and sales of existing homes:

  1. Tampa, Florida
    Home prices: +13.12%
    Home sales: +7.31%
  2. Dallas, Texas
    Home prices: +10.64%
    Home sales: +2.94%
  3. Columbus, Ohio
    Home prices: +9.60%
    Home sales: +6.62%
  4. Las Vegas, Nevada
    Home prices: +9.67%
    Home sales: +11.37%
  5. Jacksonville, Florida
    Home prices: +11.86%
    Home sales: +7.27%
  6. Nashville, Tennessee
    Home prices: +9.08%
    Home sales: +10.63%
  7. Raleigh, North Carolina
    Home prices: +8.56%
    Home sales: +7.95%
  8. Orlando, Florida
    Home prices: +7.31%
    Home sales: 7.95%
  9. Portland, Oregon
    Home prices: +11.12%
    Home sales: 9.29%
  10. Salt Lake City, Utah
    Home prices: +8.62%
    Home sales: +11.10%

Source: “The 15 Hottest Housing Markets of Spring ’17,” National Mortgage News (April 17, 2017); REALTOR® Magazine Online, Daily Real Estate News 041817

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

The Surprising Cities Gentrifying the Fastest

The Surprising Cities Gentrifying the Fastest
Article by Daily Real Estate News | January 23, 2017

nashvillemelroseneighborhoodIn the late 1980s, many residents were moving out of Charleston, S.C.,’s Eastside neighborhood due to a lack of job opportunities. The area became depressed. But things are changing there and throughout America, as many cities are undergoing rapid gentrification due to escalating home prices. But modern urban gentrification can get complicated, urban planners say.

“It’s a trade-off,” says David Fiorenza, an urban economics professor at Villanova University. “Whole communities can be displaced. But people [also] can benefit from it, because home values and business values go up … and eventually, there will be more jobs and better schools.”

Realtor.com®’s research team analyzed cities whose populations were 50,000 or more between 2000 and 2015 and examined the U.S. Census Tracts of neighborhoods of 1,200 to 8,000 residents. The team focused on lower-income areas where home values had the potential for gentrification and then compared home values and residents’ income and education levels from 2000 to 2015 to find out which cities are seeing the most significant turnaround.

Realtor.com® noted the following cities are seeing the most gentrification lately:

  1. Charleston, SC
  2. Asheville, NC
  3. Washington, DC
  4. Portland, OR
  5. Denver, CO
  6. Nashville, TN
  7. Sacramento, CA
  8. Jersey City, NJ

Source: “The U.S. Cities That Are Gentrifying the Fastest – You’ll Never Guess No. 1,” realtor.com® (Jan. 23, 2017); REALTOR® Magazine Online, Daily Real Estate News 012317

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

50 Markets Ranked: Where Does Yours Fall?

50 Markets Ranked: Where Does Yours Fall?
Article by Daily Real Estate News | October 25, 2016

NashvilleSkyBridge130x210
Nashville, TN

Who has the hottest single-family housing market this fall? Fort Lauderdale, Fla., according to a new report released by Ten-X, an online real estate marketplace. Ten-X ranked the 50 largest single-family housing markets for fall 2016 based on current and forecasted fundamentals.

Florida markets continue to dominate its list for the second consecutive season.

“Florida’s housing market continues to set the pace for the nation, with five of the top 10 metros on our report,” says Rick Sharga, Ten-X executive vice president. “While all of the top five markets took substantial hits during the housing crash, especially Las Vegas, the continued road to recovery for these destination cities is looking even brighter.”

The five single-family markets topping Ten-X’s list for this fall are: Fort Lauderdale, Fla.; Palm Beach County, Fla.; Tampa, Fla.; Orlando; and Las Vegas.

The rankings factor in pricing, sales, permit activity, and economic growth, population growth.

See how your metro stacked up.

  1. Fort Lauderdale
  2. Palm Beach County
  3. Tampa
  4. Orlando
  5. Las Vegas
  6. Phoenix
  7. Seattle
  8. Nashville
  9. Dallas
  10. Jacksonville
  11. Denver
  12. Portland
  13. Oakland
  14. Atlanta
  15. Columbus
  16. Raleigh
  17. San Francisco
  18. San Jose
  19. Miami
  20. Boston
  21. Austin
  22. San Diego
  23. Charlotte
  24. Salt Lake City
  25. DC
  26. Riverside
  27. Los Angeles
  28. Indianapolis
  29. Sacramento
  30. Minneapolis
  31. Fort Worth
  32. Orange County
  33. San Antonio
  34. Kansas City
  35. Detroit
  36. Pittsburgh
  37. Cincinnati
  38. Milwaukee
  39. Northern Virginia
  40. St. Louis
  41. Suburban Maryland
  42. Houston
  43. Memphis
  44. Philadelphia
  45. Long Island
  46. Northern New Jersey
  47. Chicago
  48. Cleveland
  49. Central New Jersey
  50. Baltimore

Source: Ten-X   Article distribution: REALTOR® Magazine Online, Daily Real Estate News 102516

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address