Last week’s economic reports included readings on home price trends, pending home sales, labor-sector readings on public and private-sector job growth. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller: Home Price Growth Slows in September The pace of national home price growth slowed for the first time since May 2020 in September according to S&P Case-Shiller’s National Home Price Index. Year-over-year home price growth slowed by 0.30 percent to 19.50 percent from August’s year-over-year home price growth reading of 19.80 … [Read More...]
It is true that the summer months are a hot time for the real estate market. Many families with children prefer to move during the summer because they do not have to pull their kids out of school. On the other hand, it is possible to sell a home during the holidays. There are fewer homes on the market, so this could drive up prices. What are a few tips homeowners should follow for selling their houses around the holidays? Remove The Clutter When the temperature cools off, people spend more time inside. Therefore, it is easy for houses to get cluttered. When this is combined with the rest of … [Read More...]
The real estate market has gone through a number of changes during the past few months. When inventory is low, sellers win. They have the ability to pick a buyer, they can make more money, and they can sell a house faster. What are some of the biggest reasons why sellers win when inventory is low? The Asking Price Goes Up One of the biggest reasons why sellers win when inventory is low is that the asking price goes up. When there are more buyers than there are sellers, a seller may have multiple offers on the table. Then, the seller can leverage those offers against each other, driving … [Read More...]
There are numerous homeowners who are looking for a way to make more space. Even a small decluttering project can make a significant difference to the amount of space available in a home. This can also make it easier for homeowners to find what they are looking for. Furthermore, if a home is going on the market in the near future, it needs to be as clean as possible. That way, prospective buyers can see the potential of a home. What are a few examples of decluttering projects that can make a significant difference? Clean Under The Kitchen Sink The kitchen is one of the most used spaces in the … [Read More...]
There are many people who are thinking about refinancing their homes. For example, some people may be interested in reducing their monthly payments, while other people may be interested in tapping into the value of the home to fund a home improvement project. What is the relationship between property values and refinancing? There are several important points to keep in mind. Property Values Tend To Rise First, it is important for homeowners to understand that property values tend to rise during the life of a mortgage. For example, someone may purchase a home valued at $250,000. Then, … [Read More...]
Last week’s economic reporting included readings on sales of new and previously-owned homes, inflation, and weekly readings on mortgage rates and jobless claims. President Biden announced his nomination of Federal Reserve chairman Jerome Powell for a second term. Financial markets were closed Thursday and Friday for the Thanksgiving holiday. Single-Family Home Sales Increase in October The Commerce Department reported sales of new homes rose in October with 745,000 new homes sold on a seasonally-adjusted annual basis. October sales fell short of the 800,000 new home sales expected … [Read More...]
