Some Highlights

• 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.
• Experts predict that the number of homes sold next year will be equal to or outpace 2019.

Studies have shown that, in many cases, the largest asset a family owns is the house they live in. Over the last twelve months, that asset has gained substantial value.

This coming year the housing market will be defined by 3 things- inventory, interest rates, and appreciation.  But the biggest issue the housing market will face in 2020 is an inventory shortage.  There aren’t enough homes on the market for buyers, especially on the lower end of the market. This is a topic that has come up frequently within the past several months.

It’s exciting to put a house on the market and to think about making new memories in new spaces, but we can have deep sentimental attachments to the homes we’re leaving behind, too. Growing emotions can help or hinder a sale, depending on how we manage them.

Some Highlights

• Winter is a great time to list a house, since inventory is traditionally low, and most sellers are holding off until spring to put their homes on the market.
• Waiting for warmer weather when more competition is on the market will only put your house up against many more choices for buyers.
• Get your house ready to sell now with quick and easy fixes that make a big impact.

 

It may seem hard to imagine that the home you’re in today – whether it’s your starter home or just one you’ve fallen in love with along the way – might not be your forever home.

Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them:

At this time of year, many families come together to celebrate the season. It’s also the time when many realize their homes are just not quite big enough to host all of their guests and loved ones. Are you one of those homeowners dreaming for a larger space to call home?

Did you know that each year in the United States, we celebrate “National Roof Over Your Head Day” on December 3rd?

Below are five compelling reasons to list your house this winter.

Some Highlights

• Existing Home Sales are currently at an annual pace of 5.46 million.
• The inventory of existing homes for sale remains below the 6 months needed for a normal market and is now at a 3.9-month supply.
• Inventory remains low due to high demand from buyers who are still looking for a house to buy!

When selling your house, there are a few key things you can prioritize to have the greatest impact for a faster sale:

Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why listing your house now or keeping it on the market this winter may be the best choice you can make.

Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below:

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.

Buyers are out in full force this fall, increasing the demand for homebuying in all four regions of the country.

In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.

Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.

Every Hour in the U.S. Housing Market: 

• 614 Homes Are Sold
• 95 Homes Regain Positive Equity
• Median Home Values Go Up $1.38

 

Some Highlights

Tom Petty famously penned the words, “the waiting is the hardest part” in his early 80’s hit song The Waiting, and his thought process can surprisingly also be applied to individuals considering selling their homes today. Traditional thinking would suggest it may be best to wait until the spring to sell when there is a flood of buyers in the market, but right now may in fact be an even better time to list your home.

Did you know that 1 in 6 Americans currently live in a multigenerational household?

To understand today’s complex real estate market, it is critical to have a local, trusted advisor on your side – for more reasons than you may think.

Some Highlights

• The National Association of REALTORS® surveyed their members for the release of their Confidence Index.
• The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices, and market conditions.
• Homes across the country are selling quickly, in an average of just 31 days.
• 49% of homes sold in less than a month.

Today’s real estate market is nothing like the 2008 market. When an economic slowdown happens, it won’t resemble the last one.

Based on the current state of the market, trends are shifting in favor of sellers. If you are going to sell, now may be the time to take advantage of the number of buyers who are searching for their dream home.