Get ready for another strong year in the 2018 housing market! U.S. home values and sales volume will continue to rise in 2018. Find out how you can maximize your Real Estate selling or buying this coming year.Read More
The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.
Here are the thoughts of a few industry experts on the subject:
“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”
“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relievethe shortage of homes on the market.”
“Inventory is tighter than it appears. It’s much lower for entry-level buyers.”
If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.
Personal resolutions can be motivating, exciting or just plain silly. This year I will…lose weight, run a marathon, go to Paris, break the hot-dog-eating record. As a homeowner, resolutions can also be empowering. Some are mission-critical for a solid financial year, others maybe fall in the wish list. Need ideas? This list should get you (and your real estate clients) started:Read More
Luckily, though, this drain on your warm air and wallet is easy to fix if you know how to seal windows—and this project is quite easy even for the least handy of homeowners to do themselves. Read on for the steps to take!Read More