Wednesday, September 23, 2020 / by Nicole Solari
Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of prospective buyers of new homes.
As the following chart shows, confidence dropped dramatically when stay-in-place orders were originally mandated earlier this year. Since then, it has soared back.Looking at the three-month moving averages for HMI scores, confidence increased in every region of the country:
The Northeast increased 11 points to 76
The Midwest jumped 9 points to 72
The South rose 8 points to 79
The West increased 7 points to 85
Confidence Is Validated by the Numbers
This confidence is definitely warranted. According to a recent NAHB report, single-family housing starts increased 4.. ...
Friday, September 18, 2020 / by Nicole Solari
Buyers are actively searching for and purchasing homes at a record-breaking pace. According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month.
With homes moving from listing day to pending sale in an average of just 22 days, it’s a great time to sell a house.
Reach out to a local real estate professional today so you can make your move while buyers are scooping homes up faster than they’re coming to market. ...
Monday, May 11, 2020 / by Nicole Solari
With the housing market staggered to some degree by the health crisis the country is currently facing, some potential purchasers are questioning whether home values will be impacted. The price of any item is determined by supply as well as the market’s demand for that item.
Each month the National Association of Realtors (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for the REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand) during this pandemic.
The map below was created after asking the question: “How would you rate buyer traffic in your area?”The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 34 of the 50 U.S. states, buyer demand is now ‘strong’ and 16 of the 50 states have a ...
Monday, April 27, 2020 / by Nicole Solari
A big challenge facing the housing industry is determining what impact the current pandemic may have on home values. Some buyers are hoping for major price reductions because the health crisis is straining the economy.
The price of any item, however, is determined by supply and demand, which is how many items are available in relation to how many consumers want to buy that item.
In residential real estate, the measurement used to decipher that ratio is called months supply of inventory. A normal market would have 6-7 months of inventory. Anything over seven months would be considered a buyers’ market, with downward pressure on prices. Anything under six months would indicate a sellers’ market, which would put upward pressure on prices.
Going into March of this year, the supply stood at three months – a strong seller’s market. While buyer demand has decreased rather dramatically during the pandemic, the number ...
Friday, February 7, 2020 / by Nicole Solari
As the year and decade comes to a close, we find ourselves in an exciting time for luxury real estate. December’s Luxury Market Report shows that we are at the very pinnacle of witnessing new groups of influence usher in a whole new range of lifestyle trends that are sure to extend beyond 2020.
As a Certified Luxury Home Marketing Specialist, luxury clientele rely on you to help them buy, sell, and invest according to these trends, so staying up to date with our monthly reports is essential during this new wave of influence.
THE ERA OF WELLBEING
When we look at how to sell luxury listings in 2020, one of the most important things to consider is our luxury clientele’s ever-growing desire for holistic living. Almost all of 2019’s Luxury Reports showed a noticeable shift away from “McMansion” estates and towards properties that fall into the “New Urbanism” concept. Luxury sellers are looking for Certified Lu; ...