NAR’s Existing Home Sales Report

NAR’s Existing Home Sales Report
http://www.homesforsaleinfortworthtx.org/nars-existing-home-sales-report/

Housing Inventory Slowly Disappearing

The price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) released their latest Existing Home Sales Report this week. Inventory Levels & Demand Amidst reporting on the fact that sales of existing homes rose 1.2% from January, and outpaced year-over-year figures for the fifth consecutive month, was the news that total unsold housing inventory is at 4.6-month supply. 

This is down 0.5% from last February and remains below the 6 months that is needed for a historically normal market. Consumer confidence is at the highest level in over a decade. Pair that with interest rates still under 4%, new programs available for down payments as low as 3%, and you have an attractive market for buyers. 

Buyer demand for housing remains twice as high as this time last year. Prices Rising February marked the 36th consecutive month of year-over-year price gains as the median price of existing homes sold rose to $202,600.

http://www.homesforsaleinirvingtx.net/housing-inventory-slowly-disappearing/

Why You Should Sell Now!

As the temperature rises, buyers are coming out ready to purchase their dream home. Inventory is still below historic numbers and demand is strong. Don’t miss out on this great opportunity for you and your family. Here are five reasons to list your home now. 1. Demand is Strong Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are more prospective purchasers currently looking at homes than at any other time in the last 12 months which includes last spring’s buyers’ market. These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now Housing supply just dropped to 4.6 months, which is under the 6 months’ supply that is needed for a normal housing market. This means, in many areas, there are not enough homes for sale to satisfy the number of buyers in that market. T
http://www.homesforsaleinarlingtontx.org/why-you-should-sell-now-arlington/

Baby Boomers: Home Is Where The Heart Is

Within the next five years, Baby Boomers are projected to have the largest household growth of any other generation during that same time period, according to the Joint Center for Housing Studies of Harvard. Let’s take a look at why… In Merrill Lynch’s latest study, “Home in Retirement: More Freedom, New Choices” they surveyed nearly 6,000 adults ages 21 and older about housing. Crossing the “Freedom Threshold” Throughout our lives, there are often responsibilities that dictate where we live. Whether being in the best school district for our children, being close to our jobs, or some other factor is preventing a move, the study found that there is a substantial shift that takes place at age 61. The study refers to this change as “Crossing the Freedom Threshold”. When where you live is no longer determined by responsibilities, but rather a freedom to live wherever you like. (see the chart below) As one participant in the study stated: “In retirement, you have the ch
http://www.homesforsaleinfortworthtx.org/baby-boomers-home-is-where-the-heart-is/

Housing Inventory Slowly Disappearing

The price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) released their latest Existing Home Sales Report this week. Inventory Levels & Demand Amidst reporting on the fact that sales of existing homes rose 1.2% from January, and outpaced year-over-year figures for the fifth consecutive month, was the news that total unsold housing inventory is at 4.6-month supply. This is down 0.5% from last February and remains below the 6 months that is needed for a historically normal market. Consumer confidence is at the highest level in over a decade. Pair that with interest rates still under 4%, new programs available for down payments as low as 3%, and you have an attractive market for buyers. Buyer demand for housing remains twice as high as this time last year. Prices Rising February marked the 36th consecutive month of year-over-year price gains as the median price of existing homes sold rose to $202,600 (up 7.5% from 2
http://www.homesforsaleinarlingtontx.org/housing-inventory-slowly-disappearing/

Fast and Reliable Ways To Pre Qualify Home Buyers

We all know that buying a home is a complex process. Currently the mortgage interest rates are favorable for home buyers, resulting in many home buyers, including first time buyers,  to rush to buying a home. But Homes for sale in Irving Tx suggests that if you are serious about buying a home the first thing to do is to visit a lender. You might be questioning why meet with a lender? A lender is a person who knows everything about loan options, how to increase your credit score if necessary and will discuss with you the problems and the possible solutions in the home buying process. Here are fast and reliable ways to interact with your lender: Make sure you are a decision maker - First and foremost remember that you re talking to an experienced professional. You need to be confident in this process and understand what your needs are. Prepare to answer the questions of a lender with confidence and honesty. Make sure you don’t have credit card or loan balances and other fees that a
http://www.homesforsaleinirvingtx.net/fast-and-reliable-ways-to-pre-qualify-home-buyers-irving-tx/

Supply and Demand Affects Home Prices in Arlington

Real estate is composed of a seller and buyer. The buyer and seller are always involved in business together, when it comes not only in real estate but in business in general. Supply and demand in the housing market affects the home prices. Experts believe that when there is a large supply of houses, home prices will decline and in contrast when there is a low supply of homes it results in high demand for homes and increased prices. This is what we call a sellers market. Home sellers will take advantage of it.  In summary, home prices are determined by supply, demand, and location. Check the criteria below on how supply and demand affects home prices: 1-4 months’ supply creates a home sellers’ market where there are not enough homes to supply the buyer demand. Appreciation is guaranteed. 5-6 months’ supply forms a balanced market. 7-8 months’ supply creates a home buyers’ market where the number of homes in the market surpass the demand. Depreciation follows. Be guided and
http://www.homesforsaleinarlingtontx.org/supply-and-demand-affects-home-prices-in-arlington/