“How’s the market?” is one of the most popular questions I get as a Real Estate Broker. Nationally, home price are still considered affordable, homes are on the market for less time, interest rates are still low and more than two-thirds of Americans say that now is a good time to buy. Here’s an overview of national housing market trends. If you want to know more about our local market, contact me and I’ll be happy to give you the scoop.

*3.5 million U.S. properties rose out of negative equity from 2013 to 2014 due to rising home prices.

*70% of Americans say it’s a good time to buy. 40% say that now is a good time to sell. 48% feel that home prices will go up in the next 12 months.

WHO’S BUYING?

31% Gen Y

30% Gen X

30% Baby Boomers

9%   Silent Generation

76% of Gen Y were first-time buyers.

WHO’S SELLING?

Gen X comprised the largest share of home sellers at 29%, followed by older Boomers (22%) and younger Boomers (21%).

13% of sellers wanted to sell their home earlier, but waited because their home was worth less than their mortgage.

Sources: Fannie Mae National Housing Survey, June 2014, US Census Bureau, June 2014, Inman, June 2014, National Association of Realtors, MSN, NAR: Home Buyer and Seller Generational Trends.

3 Reasons to Learn More About Your Local Real Estate Market:

If you’re thinking of buying a home, local market statistics can give you an idea of how much you’ll spend, and how many homes are on the market.
If you’re thinking of selling your home, information about the local market can give you an idea of how much similar homes are selling for, and how long they stay on the market.
If you want to know how much your home is worth, local Real Estate information will tell you how much your neighbor’s home just sold for.


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