by The KCM Crew on December 28, 2012
Updates from December, 2012
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by The KCM Crew on December 27, 2012
Predicting trends during volatile economic times in American is no easy task. However, we are going to give it our best shot. We strongly believe these are the five real estate items we should keep an eye on in 2013:
Demand for Housing Will Continue to Surge
The housing market has turned the corner and there is no reason to believe that buyer demand will not maintain momentum throughout 2013. Household formations shot up to boom-time levels in 2012 and are projected to increase at even a faster rate over the next twelve months. A lack of inventory will be more of a challenge to sales increases than will a lack of demand.
Generations X and Y Will Prove They Believe in Homeownership
Contrary to what many have hypothesized over the last few years, young adults (18-35 year olds) are just as committed to homeownership as previous generations. Recent studies have shown: (More …) Print This Post
Despite forecasts that prices will increase less in 2013 than this year, buyers are more concerned by rising prices than the overall economy. Thirty-three percent of buyers listed rising prices as a major concern in the fourth quarter, up from just 23 percent in the third quarter. Meanwhile, 22 percent said they were concerned with a weak economy, down from 27 percent in the third quarter, according to the Redfin Real-Time Homebuyer Survey. From November 30 to December 2, 2012, Redfin surveyed 1,084 active homebuyers who had toured a home with a Redfin agent since August 14. Print This Post
by The KCM Crew on December 7, 2012 Print This Post
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Sales of newly built, single-family homes rose 5.7 percent to a seasonally adjusted annual rate of 389,000 units in September, according to newly released figures from HUD and the U.S. Census Bureau. This is the fastest sales pace recorded since April of 2010.
“Combined with consistent, positive reports on housing starts, permits, prices and builder confidence in recent months, today’s data provides further confirmation that a gradual but steady housing recovery is underway across much of the nation,” says Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “Consumers who have been on the sidelines during the past few years are deciding now is the time to go forward with a new-home purchase, assuming they can qualify for a good mortgage under today’s exceedingly stringent guidelines.” Print This Post
by The KCM Crew on October 23, 2012
The National Association of Realtors’ (NAR) September Existing Home Sales Reportrevealed that sales declined modestly, but inventory continued to tighten and the national median home price recorded its seventh back-to-back monthly increase from a year earlier.
Total existing-home sales fell 1.7% but are 11% above the pace in September 2011.
Other findings revealed in the report: (More …) Print This Post
By Shawn Tully, senior editor-at-large October 18, 2012: 5:00 AM ET
As Fortune predicted last year, a robust recovery in home prices is under way.
FORTUNE — In spring 2011 this writer penned a controversial cover story titled “The Return of Real Estate” that predicted a strong rebound in housing. At the time, prices and sales were still tumbling, and the prevailing view among economists and pundits was that the slide would drag on and on. But Fortune’s contrarian forecast proved right. By October of last year, new- and existing-home sales and housing starts had begun an upswing that’s been gathering strength ever since — and prices joined the march in early 2012. The data conclusively confirm what Fortune predicted back then: “Housing is back.”
And yet skepticism about the strength of the recovery persists in some quarters. So we decided to revisit the metrics that led to our bullish conclusion on home prices. In the 2011 story, Fortune argued that a severe shortage of new homes was providing the foundation for a resurgence in both sales and prices. Much of our data was provided by Mike Castleman, chief of Metrostudy, whose inspectors drive by 5 million lots every three months to gauge how many homes feature a for sale sign and how many are actually being sold. We asked Castleman where the recovery stands now and how it’s likely to play out. Print This Post
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by Editor or Florida Realtors®, 19th September 2012
ORLANDO, Fla., Sept. 19, 2012 – Florida’s housing market had more closed sales, more pending sales, higher median prices and a reduced inventory of homes for sale in August, according to the latest housing data released by Florida Realtors®. (More …)