Found 3 blog entries tagged as real estate market update.

The other day I saw someone describe the real estate market as being scary.

We are heading towards something nobody has ever been through. There’s never been a time with so many events happening all at once. We have both headwinds and tailwinds for the economy so in near future things are murky. It’s understandable some people will think it’s spooky out there in the real estate market.

Perhaps that’s true in the short term. In the long run the thing I know is people will always be buying, selling or renting real estate.

Part of the reason things seem spooky is with social media there are so many people trying to make a name for themselves or trying to get clicks by promoting that we are approaching doomsday.

Here are some of the things the…

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The #1 question people ask me is “How’s the market?” Real estate statistics mostly tell you where the market has been. It’s like driving while looking through the rear-view mirror. If you want to know where the market is heading and drive while looking through the windshield you will want to follow the 4 most important housing market indicators. These are the statistics I look at when talking with someone about buying or selling a home.

Months Of Inventory

Months of inventory tells you how long it would take for all the homes that are currently on the market to sell if no additional homes were listed. A market with 4-6 months of inventory is generally considered a market balanced between buyers and sellers.

When the months of…

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Every year I keep track of trends and make notes to avoid making the same mistakes again. Last year I made a note that sellers needed to have their homes priced to sell by the end of July. Even though our market isn’t as seasonal as you might expect we can’t blame buyers for wanting to take a break and get out for a last summer vacation when it’s 105 degrees.

This year has been different. We have never seen the amount of traffic at our listings, the number of buyers visiting open houses and the offers from motivated buyers in Augusts as we did this year. Perhaps it’s simply supply and demand or buyers are motivated by the drop in interest rates this year. Whatever the reason, based on the number of buyers and agents calling us to ask about coming soon…

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