There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today.

Some Highlights:

• The concept of Supply & Demand is a simple one. The best time to sell something is when supply of that item is low & demand for that item is high!
• Anything under a 6-month supply is a Seller’s Market!
• There has not been a 6-months inventory supply since August 2012!
• Buyer Demand continues to outpace Seller Supply!

Many experts have been calling upon home builders to ramp up construction to help with the lack of existing inventory for sale. For the past two months, new home sales have surged, with July’s total coming in at the highest since October 2007.

Some Highlights:

• ‘Old Millennials’ are defined as 25-36 year olds according to the US Census Bureau.
• According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old.
• More and more ‘Old Millennials’ are realizing that homeownership is within their reach now!

Recent research by realtor.com examined certain red flags that caused the housing crisis in 2005, and then compared them to today’s real estate market. Today, we want to concentrate on four of those red flags.

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV ‘show hole’*? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Flip or Flop,” “Property Brothers,” and so many more, just in one sitting.  

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

Some Highlights:

• Thinking of moving across the country? How far will your money take you?
• The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states.
• The ‘Biggest Bang for your Buck’ comes in Mississippi where, compared to the national average, you can actually purchase $115.34 worth of goods for $100.

In a recent post, CoreLogic looked at the correlation between stocks and the sales of upper-end properties ($1 Million+ sales price). The report revealed:

This housing market has many people talking about home values; where they are and where they are headed. It’s also interesting to look back and see how home prices compare to values prior to the housing crisis.

The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure.

Today, more and more sellers are stepping back, taking a look at the advice real estate professionals give them, and asking themselves whether they can trust that advice. And that is exactly what they should do.

According to the latest Census Bureau Report, sales of newly constructed homes soared to new heights in June to a seasonally adjusted rate of 592,000. This marks the highest annual rate in 8 years. 

Some Highlights:

• Existing home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million.
• Inventory of homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year.
• Median home sales prices rose to $247,700, 4.8% higher than a year ago and replaced the previous peak in May of $238,900.

The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the summer as many real estate professionals are reporting bidding wars with listings actually selling above listing price. What about your house?

If you are debating listing your house for sale this year, here is the #1 reason not to wait! 

Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days.

According to a Merrill Lynch study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement.

Last week, the National Association of Realtors (NAR) released their Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings. The report revealed that this May’s numbers weren’t quite as good as the year before:

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

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%.

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. One major challenge in such a market is the bank appraisal.

As the temperature rises, buyers are coming out ready to purchase their dream homes. The summer is a great time to list your home for sale. Here are five reasons why:

Some Highlights:  According to NAR's Profile of Home Buyers & Sellers:

• 88% of buyers look for their new home online.
• Using a real estate agent can net you $39,000 more than FSBO'ing.
• There is a long list of people that you will have to negotiate with when you decide to sell your home, using an experienced professional can help ease the process.