Thursday, September 27, 2018 / by Hunter Habib
The top is in for existing-home sales, which make up 90% of transactions in the US, according to economists at Bank of America Merrill Lynch.
· They cite worsening affordability, higher mortgage rates, and price cuts as reasons sales are unlikely to bounce back after peaking in November.
· They no longer expect existing-home sales to contribute to the economy's growth.
The largest segment of the housing market has peaked and will no longer contribute to the US economy's growth, according to US economists at Bank of America Merrill Lynch.
"We are calling it," the team led by Michelle Meyer said in a research note on Friday. "Existing home sales have peaked."
Sales of existing US homes make up 90% of all transactions and recovered faster than the market for new homes after the housing crisis a decade ago. But sales have failed to t ...
Thursday, September 20, 2018 / by Hunter Habib
Welcome to September! It’s almost officially the Autumn season in Southwest Florida and soon we’ll be seeing the license plates changing to our unique “Autumn” colors! We welcome the Autumn selling and buying season as well with some good news…it seems as if our Labor Day storm helped wash away some of the red tide and algae issues our area has been experiencing over the summer months. The additional good news is that despite those issues, sales and new listings in Southwest Florida has not been affected at this time. In fact, inventory, pending and sold units are historically at the same levels as this time last year prior to Hurricane Irma.
If you’re thinking of buying or selling, don’t let the water quality issues deter you. According to the most recent Realtor.com report, Southwest Florida is receiving millions of online listing views per month and has for some time now. ...
Friday, August 03, 2018 / by Hunter Habib
It’s been a strangely dry, but wet, summer season thus far in Southwest Florida. The unpredictable weather and the overabundance of algae we’re experiencing right now has not deterred buyers, but in the local market, inventory levels have decreased somewhat, especially in the $300-500K price segment. This is likely due to those homes selling the quickest, as that price point is a sweet spot for many buyers currently looking in the market.
If you’re in the market to buy in that price point, be prepared for some competition out there due to the limited availability right now. For those homes in this price segment that are accurately priced to market value with updated décor both inside and outside, and are in desirable communities, multiple offers will be the challenge for buyers. If you find a property that you really like in this price segment, don’t wait – put your offer in now because t ...
Friday, August 03, 2018 / by Kira Evans
Tuesday, July 31, 2018 / by Kira Evans
Interest rates are at an all-time record low and are predicted to increase by the end of the year. Now is the time to lock in your low-interest rate while you shop around for your new home. Contact VanDyk Mortgage for more information.