Some Highlights:
- Sales of existing homes reached the highest annual pace in over 9 years at 5.29 million.
- Inventory remains below the 6-month norm and prices are still on the rise.
- Interest rates are at a historic low of 3.48%.
Posts in category 'Housing Market'
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July
1
1
Sales at Highest Pace in 9 Years!
Sales at Highest Pace in 9 Years!
![Sales at Highest Pace in 9 Years [INFOGRAPHIC] | MyKCM](http://s3.amazonaws.com/kcmmedia/2016/06/30165732/Sales-Highest-in-9-Years-STM--1046x1354.jpg)
April
27
27
Homes Continue to Sell Quickly Nationwide
The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report, which revealed that homes were on the market for an average of 47 days in March. This is a decrease from the 59 days reported in February, as well as the 52 days reported back in March 2015.
42% of homes across the country were on the market for less than a month, which is the highest it's been since July 2015 (43%)!
Among the states with homes selling in 30 days or less are Washington, Oregon, and...
April
19
19
If You Are Thinking of Selling, Now Is The Time
If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today's real estate market.
April
11
11
You Can Save for a Down Payment Faster Than You Think
In a study conducted by Builder.com, researchers determined that nationwide, it would take "nearly eight years" for a first-time buyer to save enough for a down payment on their dream home.
Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage of income a renter spends on housing in each state, and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.
According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:
April
8
8
Building Wealth: First Rung on the Ladder is Housing
How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is "an online resource for the most rigorous research and practical information on how a quality, stable, affordable home in a vibrant community contributes to individual and community success".
A recent story they published, The First Rung on the Ladder to Economic Opportunity Is Housing, discussed the importance of having affordable housing available to as many families as possible because:
"The ladder to economic success can stretch only so high wi...