|
Even though there's strong buyer demand, sales of new single family homes fell more than expected in April.
1 Comment
As we head into summer, it is a great time to review how the 2017 real estate market is doing so far. Here is what the experts are saying:
 Limited supply has restricted existing home sales in the U.S., dropping total sales by 2.3 percent in April, according to a report from the National Association of Realtors.
The number of homes sold last month, which includes single-family houses, townhomes, condos and co-ops, fell to a seasonally adjusted annual rate of 5.57 million, NAR said in the report released Wednesday. The homes that are on the market are selling fast as supply fails to catch up with demand, with the average home selling in less than a month—or a new low of just 29 days. Lower mortgage rates are helping more homeowners refinance and reduce their monthly payments, but they are not providing much incentive to homebuyers, who are finding few affordable listings.
Home prices continue to rise at a fast clip, faster than incomes and faster than new employment, but it is still cheaper to own a home than to rent. So why are home sales falling? Because there are crazy few affordable homes for sale.
 As the heat begins to crank up and the long summer days begin, people will start to migrate to the state's beaches or to their local pools to cool off.
Some people are lucky enough to have the luxury to simply walk out to their backyard or to another room in their home to rid the summer heat. (Check out the last home on this list.) These 12 homes are pricey, but you get what you pay for, and all of these homes feature stylish pools in charming settings, as well as large plots of land and other high-end amenities. Click here for all 12 of the Coolest Home Pools... Whenever I discuss buying land with my real estate clients, I can't help but hear the theme song for that 1960's TV show ringing through my head: "Green acres is the place for me." Laugh as you may, urban dwellers often idealize what it's like to live on acreage outside city limits. So before you decide to dump it all for "give me that countryside" and buy land on which to build your dream home, consider first the realities.
The realities are the things that could cost you big-time after closing. Diana Olick discusses the latest report from Trulia on how 34% of homes have recovered to their pre-recession price levels.
Check out any one of the many national home price reports, and headlines scream of new peaks and growing gains each month. Home prices are rising faster than inflation, faster than incomes and faster than some potential buyers can bear. Those reports are heavily weighted toward large metropolitan housing markets.
|
Tress RealtyTress Realty Group compiles some of the best real estate news, tips, and information for buyers, sellers and investors. Archives
July 2018
Categories
All
|
RSS Feed