Posts Tagged as Real Estate Sales Trends

What's Ahead for 2019?

What’s Happening with Real Estate Sales in 2019 – What to Know and Expect

Will 2019 see a repeat of last year’s mammoth price gains? Given the current economic climate, here are a few real estate trends to be on the lookout for from financial guru Dave Ramsey.

Trend 1: More Slowly Rising Prices; Less Offers

In 2017-18, housing prices jumped a whopping 10%. This year is expected to slow dramatically to a minuscule 1%. This slow down is due to a combination of rising mortgage interest rates and overall economic uncertainty, which will discourage buyers ‘on the fence.’ 

In the 2019 market, buyers need to come to the table with a firm idea of how much home they can afford in today’s pricey market. Sellers need to understand that buyers are being priced out of the market, which makes finding the right listing price integral to success. Beware of lowball offers, holding out for a better offer when not rushed.

Trend 2: Rising Mortgage Interest Rates

A strong economy and rising inflation are pushing interest rates higher. Higher rates will slow down the process for sellers, who will see fewer offers and longer sales times as the hikes make buyers pause. For buyers, though, rates are still relatively low, with fixed-rate options helping lock-in monthly payment costs.

Trend 3: A Millennial Buyer Majority

Millennials do their house-shopping homework, beginning online. They opt for quality over size, efficient/smart homes, and prefer ‘18-hour city’ locales with public transportation access. Sellers with homes not catering to this mindset can expect lower offers or for millennial buyers to look elsewhere.

For millennial buyers, competition for a 3-bedroom single-family home in the burbs is fierce. To increase the odds of success, buyers should know ‘must-haves’ in advance and include a personalized ‘story’ letter with photos to stand above the competition.

Don’t let real estate trends take you by surprise. Stay on top of the latest market expectations with the help of Properties Online today.

November May Just End Up Being Your Best Month

Could November be Your Best Real Estate Sales Month Ever?

Many homeowners avoid the holiday real estate selling season like the flu, believing it’s a bad time to sell. In today’s real estate tips, we’ll look into this shunned selling season, and why it no longer applies today…

Holiday Buyers are More Motivated During the Holiday Season

The main idea that spring and summer are the best time to list homes for sale involves real estate tips surrounding parents waiting for summer to move school-aged children. However, this idea is outdated.

Today, more than half of home buyers are single, and their decisions aren’t based on the school calendar. Those looking to buy are either dragging their feet in hopes of a better deal, facing the time constraints of finding a home due to a change in employment, and more. They’re now highly-motivated.

Cold weather, shorter days, and hectic schedules don’t apply. These buyers need a home!

Today’s Holiday Home Sales Go Faster & Closer to Asking Price

Because holiday buyers are motivated, they’re more likely to pay closer to listing price. Several studies show homes listed during the holiday season today are more likely to sell faster and closer to asking price, particularly in November during prime holiday sales time.

There’s Less Competition in the Holiday Season

Because most home sellers suffer misconceptions about holiday sales, they take their homes off the market, shrinking supply. This results in potential gains for those sellers that do list. Less competition means more buyers checking out the few desirable homes on the market.

There May Be Year-End Tax Break Opportunities

Those looking to lower their taxes may also snipe a home late in the year to deduct purchase costs like points, interest, property and capital gains taxes.

Do you have the real estate tips you need to make the most of the holiday home buying season? Give yourself the gift of steadier sales with the help of Properties Online today.

Real Estate Home Sales Are Hot! What's Up for the Rest of 2018?

Real Estate Home Sales Are Hot! What’s Up for the Rest of 2018?

What’s driving today’s real estate trends? Driven by low home inventory, new home sales are hot, with sales rising 6.7% in May despite extraordinarily high selling prices. This tops the far more conservative estimate of a 0.9% increase expected by economists at the Wall Street Journal.

Have We Surpassed Elevated Levels Seen Before the 07-09 Mortgage Crisis?

New home sales still remain well beyond such levels, and are up 14.1% compared to new home sales last May.

What Areas are Seeing the Greatest Growth?

Sales in the South are driving last month’s numbers, with the region experiencing a 17.9% increase in new home sales. Elsewhere in the Midwest, May sales were flat, and in the Northeast and Northwest, new home sales declined.

Will this Trend in New Home Sales Continue?

Expectations of single-family home sales by builders fell two-points in June according to the recent NAHB housing market index. Further economic growth, the creation of more jobs, and a solid housing demand, however, are expected to spur construction of more single-family homes in the months ahead.

What About Pre-Owned Homes?

Compared to sales in the first 4-5 months last year, 2018 sales of pre-owned homes have remained neutral.

How are Complications in the Sales Arena Playing a Role?

It’s commonly seen in real estate trends for low inventory to inflate prices, driving buyers out of the market, and we’ve been seeing that for quite some time now. But this isn’t the only factor complicating purchases. Mortgage interest rates rose to 4.59% in May, up more than half a point from January’s 4.03%. Labor is scarce, and lumber prices at record-highs, adding almost $9,000 to the cost of new single family homes since January of 2017. All-in-all, a harrowing time for making a home purchase.

Are you making the most of today’s hot housing market? Heat up your sales with the latest real estate trends and technology from Properties Online today­.

How to Creatively Get More Seller Leads with Video

Falling Prices Boost Sales Trends

Recent real estate trends reported by the National Association of Realtors have shown purchases of existing homes, which had fallen in July, rebounded in August – some 5.1% higher than prices in August 2015, Why the bump? Typical for that time of year, demand decreased and prices began to fall, which may have led to the bump in August.

How high did they climb?
Existing home sales rose 5.5% from the previous month and 7.3% from the previous year, at 541,000 purchases. Luckily, though, median prices dropped 1.3%, but they were still up overall – 5.1% from the previous year.

A better buy
Lower than the cost of a newly built home which sold for a median $294,600 in July, the $240,200 median price tag for gently-used homes offered budget-conscious buyers a late-summer bargain.

The rise and fall
Most buyers choose and move before the school year starts, typically settling before August and declining thereafter. However, inventory has been tight this year and prices have been up. As demand dropped in August, prices also fell. (The two extra business days in August probably didn’t hurt sales either.)

Real estate trends show an upswing nationwide:

• South
Lower cost of living, bringing an influx of companies to the south, is bringing new jobs and residents, boosting sales to 7.4% over last year and prices up 6.7%. In August, 217,000 homes were sold at a median home price of $209,700.

• Midwest
The Midwest sports some of the lowest home prices in the country, with a median $190,700 sale price. Here 132,000 homes went under contract, up 7.3% annually, 5.5% year-over-year.

• West
The nation’s costliest region saw 115,000 purchases, up 7.5% annually, with median pricing up 9.2% to $347,400.

• Northeast
Supply-restricted, the Northeast still closed on 77,000 homes, with sales up 6.9%. Prices rose 0.8%, to a median of $274,100.

Local real estate trends show things looking up? Cash-in with the help of Properties Online.