At the national level, housing affordability is practically flat from last month and down from a year ago. Mortgage rates increased to 4.22 percent this December, up 1.7 percent compared to 4.15 percent a year ago. Housing affordability declined from a year ago in December moving the index down 2.3 percent from 163.8 to 160.1.… Continue Reading December 2017 Housing Affordability Index
In a monthly survey of REALTORS®, seller’s agents who closed a sale are asked “How many offers were received for the most recent property you sold in the past month? Among seller’s agents who closed a sale in December 2017, the respondents reported they received 2.2 offers (which means sellers received between two to three… Continue Reading Home Sellers Had 2 to 3 Buyer Offers in 2017
Experts forecast that the U.S. economy is in for yet another solid year of strength, albeit not at the same level as in 2017. NAR expects that the mortgage rate for a 30-year fixed mortgage will rise to 4.4 percent in 2018 from 3.9 percent in the last quarter of 2017[1], an increase of 50… Continue Reading What Would an Increase in Mortgage Rates Mean for Homebuyers?
By Melissa Dittmann Tracey, REALTOR® Magazine Love is in the air with Valentine’s Day this week. But a romantic flair to warm up your home design may very well be in style year-round. In fact, one-third of homeowners say they intended to renovate their master bedrooms to create a more romantic or intimate space, according… Continue Reading 7 Ways to Add More Romance to a Home’s Decor
Rebecca Donatelli By Rebecca Donatelli Let’s face it, people tend to have a skewed perception of real estate agents. The way we are depicted on TV shows—even the way some people portray themselves on social media. You’d think we only live a life of luxury and glamour, with classy dinners, beautiful homes, and five-star reviews.… Continue Reading Enough is Enough: Time to Debunk 4 Myths About Real Estate Agents
Every month NAR produces existing home sales, median sales prices and inventory figures. The reporting of this data is always based on homes sold the previous month and the data is explained in comparison to the same month a year ago. We also provide a perspective of the market relative to last month, adjusting for… Continue Reading December 2017 EHS Over Ten Years
Olympics, rockets, Super Bowl, design, location, and fries. The Winter Olympics begin this week. Here are 8 things to know about the games and their local impact. Our favorite flag bearer is back! Shawn Carpenter/flickr/2010 “Don’t panic” is right. This went very well. Congrats to the Philadelphia Eagles (or Iggles, depending on your hometown) on… Continue Reading What We’re Reading: February 5-9
The federal budget deal passed by Congress and now on its way to the President’s desk contains a number of wins for real estate, including a temporary extension of federal flood insurance and extension of several National Association of Realtors®-backed tax provisions. NAR President Elizabeth Mendenhall issued the following statement: “The National Association of Realtors®… Continue Reading Realtors® win pro-real estate provisions in budget deal
NAR released a summary of pending home sales data showing that December’s pending home sales pace was up 0.5 percent last month and up 0.5 percent from a year ago. Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead existing-home sales data… Continue Reading December 2017 Pending Home Sales
Amid strong demand and tight supply, REALTORS® reported that properties that sold in December 2017 were typically on the market for 40 days in November 2017, down from 52 days compared to the same month last year, according to the December 2017 REALTORS® Confidence Index Survey.[1] The median days on market have been broadly on… Continue Reading In Which States Did Properties Sell Most Quickly in December 2017?