What are Existing-Home Sales, and Why Does the Data Matter? Existing-home sales data are a monthly measure of the sales volume and prices of existing single-family homes, condos, and co-ops nationwide. But what are existing-homes? Existing-homes, unlike new homes, are homes that are owned and occupied before coming onto the market. Existing-home sales account for… Continue Reading Existing-Home Sales Explained
Gen Xers, buyers aged 39 to 53 years, made up the second largest share of home buyers by generation at 24 percent of all home buyers in 2018, (down from 26 percent last year). The median age for this group was 45 years old and they were born between 1965 and 1979. They tended to… Continue Reading Gen Xers: Purchased Multigenerational & the Biggest Homes
By Justin M. Riordan, Spade and Archer Design Agency Surveys show that millennials prioritize home buying over getting married or having kids. They’re eager to buy, as soon as they get their finances in order. So, how do you appeal to the millennial home buyer? Here are some tips in speaking their language: 1. Make it Instagram… Continue Reading Instagram-Worthy Pics and Ga-Ga-Like Amenities to Attract Millennials
About 3,000 REALTORS® who responded to NAR’s February 2019 EALTORS® Confidence Index Survey had more optimistic— although modest— home price growth expectations over the next 12 months. Respondents expect home prices to typically increase by 1.9 percent nationally, up from 1.4 percent in the January survey. NAR forecasts a 2.7 percent appreciation in the median… Continue Reading REALTORS® Home Price Outlook Improves as Mortgage Rates Decline
NAR Chief Economist Lawrence Yun commented on March hiring and unemployment figures, released this morning by the Labor Department. A total of 196,000 jobs were added last month, exceeding the goal of 170,000 jobs set by many economists. This marked the 102nd straight month of job gains. “The job market is quite remarkable as more… Continue Reading NAR Chief Economist Comments on March Jobs Report
The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics (BLS) report on the employment situation in March: “The job market is quite remarkable as more job creations and wage gains are adding to the pent-up demand for housing. The many new job holders are seeking the starter home,… Continue Reading Instant reaction: NAR Chief Economist Lawrence Yun on March Jobs Report
A very expensive Harry Potter first edition, future homes on Mars, movie houses, spring cleaning, rideshare safety tips and much more, compiled by Anne-Marie Siudzinski, Senior Library Information Specialist. A very pricey Harry Potter first edition was just sold. Which home on Mars would you want to live in? NASA has three designs to choose… Continue Reading What We’re Reading: April 1-5
New in this year’s report, the 2019 Home Buyer and Seller Generational Trends, is the segmentation of Millennials into two cohorts. Older Millennials, buyers aged 29 to 38 years, made up the largest share of home buyers by generation at 26 percent of all home buyers in 2018. This group was born between 1980 and… Continue Reading Older Millennials: Growing Up and Settling Down
Unfortunately, a handful of buyers and buyers reps sometimes misbehave in listings. #1 issue, bathroom break then hunt for opioid pain killers. Some thoughts. Always tell buyers to assume surveillance and behave in listings. Never discuss confidential information when surveillance is possible. Cameras and microphones are so small now. Cameras are legally safer than microphones.… Continue Reading Behave in Listings, Surveillance (Cameras/Microphones), Secure Valuables, Secure Listings
Listing Reps who receive a written offer or counteroffer from a buyer or buyer offer should timely and properly present the offer to the seller. Buyer Reps should always put offers and counteroffers in writing. REO servicer/sellers often are dealing with thousands of REO properties across the USA and rely on technology such as offer… Continue Reading Listing Rep Receive and Offer/Countoffer, Present to Seller, Respond to Buyer