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Does Anyone Know Where The Housing Market Is Heading?

October 2, 2013  |  by Ellen

Real Estate ReportsThis Sunday’s New York Times included a piece from the Editorial Board about the seemingly incongruent housing statistics that keep coming out in industry reports. More buyers have come out of the woodwork in recent months, but many worry that was just a temporary surge of people who wanted to stay ahead of the rising interest rates. Inventory is not as tight as it was at the beginning of the year, yet homes in price ranges that first-time buyers can afford are still in short supply for most of the popular markets around the country. In short, the editorial claims, we can’t sit back and relax just yet. Click here to read the piece on the New York Times website.

Similarly, the real estate search engine Trulia announced last week that they are retiring their monthly Housing Barometer because it no longer takes an accurate measurement of whether or not the real estate market is getting healthier. As the author explains:

“When we titled the first Housing Barometer post “Are we there yet?”, the answer was clearly “no.” Now, “are we there yet?” is no longer a yes-or-no question: the answer is yes and no, depending on which aspect of the housing recovery you look at.”

RealEstate Business Intelligence (RBI) recently posted on the subject for the RBI Blog. We encourage you to check out their findings. Click here to read their post “on Is the DC Metro housing market “there” yet?”

Since every market is different, we want to hear from our MRIS customers who are watching this at the front lines every day. What signs do you look for to decide whether or not housing has recovered in your region? Have you seen a shift, either positive or negative, in the measurements you rely on? Please let us know in the comments.

Posted in Blog, Featured, Industry News, Market Statistics, RBI

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6 responses to “Does Anyone Know Where The Housing Market Is Heading?”

  1. Mark Northup says:

    People in general are very unrealistic . The seller as always wants more for their home than it's worth . Obviously it's always been this way but their worse than ever . What sellers needs to realize is that the US economy is on the edge of collapse and that values in most places are going to go down so they should get their money while they can . Decent jobs are going to be harder to get so peoples real incomes will continue to go down therefore they won't be able to afford rising prices . Also you will see more short sales and foreclosures which will further drive prices down . Also qualifying for loans is going to be harder so that will shorten the buyer pool .

  2. Jim says:

    They said the same think after the SF fire, the depression, the dust bowl, gas lines, 9-11, but housing in America always vines back because people from all over the world want to live here.

  3. rbeladia says:

    just take average appreciation of 3% per year in real estate everywhere in any growing cities of the USA,
    Basically for mid income family need to keep investing in real estate and keep selling it whenever you double your money, that is the key works on long term investment and don't be dependent and sitting on one home. All you need is to keep up your credit score and maintain your income to get the better interest rate and get the 30 year fix loan for better cash flow from rented real estate. can you pay me at least $5 for this advise !!
    sorry but there is lot other thing to know to make 10% from bank's 5% loaned money. More you get loans more cash flow you can generate, call me if you have any further question 703.597.6540 Financial advisor and Investor Rbeladia

  4. Remax agent says:

    Inventory continues to be low, especially for first time buyers and lower priced properties. Fewer foreclosures coming on the market but that is most likely due to the fact that HASP and HARP refinances have assisted many homeowners. Property values continue to DROP due to lack of comps for appraisers to use. New construction is barely evident at all. Rental prices continue to escalate and more single family homes are being listed as rentals than ever before. Federal lending laws have bogged down the mortgage process to cause average loan processing times to exceed sixty days and the ridiculous appraisal management system has doubled the cost of an appraisal for the buyer while unqualified appraisers are being sent to unfamiliar areas where they do not/CANNOT do a good job. This means we get poor quality appraisals with bad values which continues to depress the market. Filthy rich investors and investment conglomerates have taken advantage of bulk purchases in urban areas of some states, like Florida, and those bulk purchases have skewed the statistics to make a false impression that housing has picked up. The housing market is nowhere near a state of recovery.

  5. Fran Kormann says:

    The market is top heavy. That is buyer/sellers want to move up or move down (baby boomers) but they are stuck. Because…. the market is missing the first time home buyers – again! We need the first timers to buy so people can move up and people can move down. We are moving forward at a snails pace, because financing is too tight. Empty nesters are chomping at the bit to size down but they need the move up buyer to buy their large houses and they need builders to build more one level living homes because the baby boomers want more comfortable living. Get some first time home buyer incentives out there and break the log jam.

  6. @rbeladia says:

    Location is the FIRST KEY in real estate for buying or selling and It is hard to make your buyers and sellers realize about their direct effect of pricing by location city, zip code and side effect of Cul-De-Sac, corner lot, traffic area, lake side, city view, heavy traffic, hill or creek side and dozens of others elements effects the price.

    Condition of the house and Age is buyer's demand and it is SECOND KEY for the buyers & seller to realize the fact that what is leftover juice in the property and what will be immediate, short term and long term expenses and depreciation schedule.

    Customer type, credit crisis, loan approval & Government policies is THIRD KEY in real estate to understand each model and level of the house's selection by each age group and bank policies, For example baby boomers need One level houses with smaller land area and other age groups looking for different hundreds of the choices by their nature, custom, choices, requirements, demands, and custom built interior decoration and exterior landscaping and same time credit approval/loan and current Federal government policies of funding and local government's enforcement of zoning, building codes, restriction etc..

    Realtor Buddies. please make a list of the demands and be careful to understand your buyers and sellers, Be detail oriented to decide Market price and listing price by all these three keys and make both parties happy to your deal easy.

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