July 2020 Market Update
Highlights (the highlights are a comparison between July 2019 and July 2020)
the median detached home price rose 8.3 percent to $251,000
the average detached home price inreased 9.4 percent to $289,677
overall inventory of detached ...
Posted by Missy Ashcraft on August 24, 2020 in Market Statistics
Expert Insights on the 2020 Housing Market
When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue.
Here’s what three ...
Posted by Missy Ashcraft on January 21, 2020 in Market Statistics
2020 Forecast Shows Continued Home Price Appreciation
Questions continue to rise around where home prices will head in 2020. The latest forecast from CoreLogic shows continued appreciation at 5.4% over the next year:Additionally, ARCH Mortgage Insurance Company in their ...
Posted by Missy Ashcraft on January 8, 2020 in Market Statistics
Where is the Housing Market Headed in 2020?
Interest rates will be lower than they have been since before 1980 at 3.8% and are projected to remain steady throughout 2020!
According to CoreLogic, home prices will appreciate at a rate of 5.4% over the course of the year....
Posted by Missy Ashcraft on January 6, 2020 in Market Statistics
Millennials Are on the Move as First-Time Homebuyers
According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time homebuyers is 32.
With more millennials entering a homebuying phase of life, they are driving a large portion of the ...
Posted by Missy Ashcraft on December 18, 2019 in Market Statistics
How Long Can This Economic Recovery Last?
The economy is currently experiencing the longest recovery in our nation’s history. The stock market has hit record highs, while unemployment rates are at record lows. Home price appreciation is beginning to reaccelerate. This begs the ...
Posted by Missy Ashcraft on November 23, 2019 in Market Statistics
This is Not 2008 All Over Again: The Mortgage Lending Factor
Some are afraid the real estate market may be looking a lot like it did prior to the housing crash in 2008. One of the factors they’re pointing at is the availability of mortgage money. Recent articles about the availability of low-down ...
Posted by Missy Ashcraft on November 21, 2019 in Market Statistics
Homeownership Rate Remains on the Rise
In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.
The U.S. Census Bureau announced,
“The homeownership rate of 64.8 percent was not statistically ...
Posted by Missy Ashcraft on November 12, 2019 in Market Statistics
Home Prices Increase in Every Price Range
CoreLogic’s Home Price Index (HPI) Report revealed,
“National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.”
They also analyzed four individual ...
Posted by Missy Ashcraft on September 24, 2019 in Market Statistics
New Study Reveals One Surprising Reason for the Inventory Shortage
There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim ...
Posted by Missy Ashcraft on May 1, 2019 in Market Statistics
Are Low Interest Rates Here to Stay?
Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% ...
Posted by Missy Ashcraft on April 25, 2019 in Market Statistics
Buyer Demand Surging as Spring Market Begins
Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade.
However, according to two separate reports*, ...
Posted by Missy Ashcraft on April 24, 2019 in Market Statistics
Home Value Appreciation Stops Falling, Begins to Stabilize
The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer.
In a recent post on the National ...
Posted by Missy Ashcraft on April 17, 2019 in Market Statistics
Home Buyer Demand Will Be Strong for Years to Come
There has been a lot written about millennials and their preference to live in city centers above their favorite pizza place. Some have even gone so far as to say that millennials are a “Renter-Generation”.
And while this might be ...
Posted by Missy Ashcraft on April 16, 2019 in Market Statistics
3 Graphs that Show What You Need to Know About Today’s Real Estate Market
The Housing Market has been a hot-topic in the news lately. Depending on which media outlet you watch, it can start to be a bit confusing to understand what’s really going on with interest rates and home prices!
The best way to show ...
Posted by Missy Ashcraft on April 10, 2019 in Market Statistics
Homebuyers Shouldn’t Worry About 2008 All Over Again
Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing ...
Posted by Missy Ashcraft on April 8, 2019 in Market Statistics
How to Put Your Housing Cost to Work for You
There has been a lot written about the benefits of homeownership. One benefit that continues to rise to the top is the added wealth homeowners gain simply by paying their mortgage while their home increases in value over time.
The National ...
Posted by Missy Ashcraft on April 3, 2019 in Market Statistics
Homeownership is a Cornerstone of the American Dream
“The rumors of my death are greatly exaggerated.”
The famous quote attributed to Mark Twain can apply to homeownership in the United States today. During the housing bubble of the last decade, the homeownership rate soared to over ...
Posted by Missy Ashcraft on March 21, 2019 in Market Statistics
Why an Economic Slowdown Will NOT Crush Real Estate this Time
Last week, the National Association for Business Economics released their February 2019 Economic Policy Survey. The survey revealed that a majority of the panel believe an economic slowdown is in the near future:
“While only ...
Posted by Missy Ashcraft on March 13, 2019 in Market Statistics
The Housing Market Will “Spring Forward” This Year!
Just like our clocks this weekend, in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale has been holding back the ...
Posted by Missy Ashcraft on March 8, 2019 in Market Statistics