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Consider: In the fourth quarter of 2010, 23.1% The National Association of Realtors tracks the days on market, and unlike 2011, when it took over three months, the most recent existing home sales report shows only 24 days on market this year. For the same week this year, the number was 70,606 newlistings.
Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. million, according to the N ational Association of Realtors. Existing-home sales dropped 4.1% in October from the prior month , reaching a seasonally adjusted annual rate of 3.79
In 2010, more than 23% of homes in America were underwater. Our newlisting data for that time period shows there were between 250,000 and 400,000 newlistings per week as many sellers with underwater mortgages were forced into a distressed market.
This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. But one positive reason for the low inventory is that homeowners have great financials and aren’t being forced to sell their homes out of stress. NAR: Total existing-home sales receded 4.3%
Since 2010, Bluff ton’s population has nearly tripled to about 34,000 making it one of America’s fastest growing towns. According to the Hilton Head Area Association of Realtors , the median home sale price jumped 15.3% However, this growth has come at a cost. in 2021 to $330,745. “It It is extraordinarily hot,” emphasized Pierce.
November newlistings fell by about half of the previous month’s rate while home prices saw a welcome decline. The number of newlistings tumbled 48% from October and was down 2.7% Fewer listings will likely lead to quieter sales activity in the coming months. The seasonal slowdown is in full swing now.
“The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” Lawrence Yun, chief economist for the National Association of Realtors® said in September. The number of Active listings is another eye-opener.
The National Association of Realtors ‘ existing home sales report shows home sales dropped only 1.0% Where I disagree with Yun is this: We have more inventory because demand has been softer, and we have more newlistings this year compared to last. from August to a seasonally adjusted annual rate of 3.84
Annual sales across King County totaled 21,515 homes – down an incredible 24% from the year before and the fewest since 2010 (20,761). And, despite the rise in newlistings, the number of homes still on the market on Feb. Seattle led the way with a 156% increase in newlistings (517) month-to-month and 4.0%
fewer newlistings, the rate of sales rose 1.7% Two data points stood out from the latest report by the Northwest Multiple Listing Service: The aforementioned newlistings for all homes in the county – 2684 – is at a low not seen for an August since records were shared with brokers (like me) dating back to the mid-1990s.
2024 Listings Rise for the First Time in Two Years Connecticut has experienced a steady decline in listings since 2015. However, after two years of significant drops, including 2023’s record low since 2010 , 2024 saw a 2.9% increase in newlistings. Will the 2025 Real Estate Market Improve?
home was $313,000 through February, a sharp 16% higher from a year ago, according to the National Association of Realtors® (NAR). The image was taken from a drone above The Parc, a condo in Belltown, where I am promoting one of my newlistings. The median down payment represents 7.7% from the previous quarter.
The region’s real estate scene in 2023 will be remembered for rising home prices and scant newlistings. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. Buyers and sellers tiptoed through caution. It’s going to stop getting worse.”
Sales activity across the county is at historic lows; no October has experienced fewer listings in King County – not even close – since at least 1992 when records were first archived online. Newlistings for all home types in King County stood at 2157, a whopping 25% drop from September to October. Closed sales fell 0.9%
. > If homeowners feel their new property tax assessment is too high [I know, every owner just raised their hand!) , they have the option to appeal by providing evidence that the market value of the home is lower than the assessed value. Realtors and appraisers can help provide evidence to support the appeal. San Jose, Calif.,
The House version, HB 1782 , is backed by developer and Realtor® lobbyists, Habitat for Humanity and environmental groups, according to The Seattle Times. between 2010 and 2020 to edge out Denver (22.9%) and Portland, Ore.-Vancouver, The aim is to generate more multi-family housing, from duplexes to fourplexes. Vancouver, Wash.
. >> The Puget Sound region suffered from a severe lack of new construction in the decade ending in 2020, according to U.S. Kitsap County had the fewest number of units built per household formed between 2010 and 2020 (0.55). I had to share this newlisting because of the fantastic listing video.
Waller went on to say this adjustment is in no way like the horrific housing/financial crises of 2007-2010. That’s according to a survey of 1,002 Hispanic Americans by The National Association of Realtors®. >> Counties in and near Chicago and New York City were seen as the most vulnerable to today’s economic headwinds.
The narrow area known as Westlake, just west of Lake Union (and, notably, close to Facebook, Google and Amazon offices), has seen the number of people aged 25-34 double from 2010 to 2019 and now comprise 52% of its residents. They have declined for two consecutive months, according to the National Association of Realtors®.
Memories of the Great Recession still linger for anyone linked to the real estate industry – including the estimated seven million households that lost their homes to foreclosures around 2008-2010. >> The National Association of Realtors® revised its economic forecasts for 2021 – and things are looking up. That leaves about 2.1
The rate today is the same as in the late 1960s, except during the housing bubble of 2008-2010 when ownership rose – and we know how that ended up! UNMARRIED AND BUYING TOGETHER For the third consecutive year, a report from the National Association of Realtors® (NAR) noted an increase in unmarried couples purchasing a home.
“There is a strong desire for homeownership across this country, but the lack of supply is preventing too many Americans from achieving that dream,” said Lawrence Yun, chief economist for the National Association of Realtors® (NAR). A surprising 3% used the time to build a new house. million home sales.
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