Home Showings Increase

The number of times a particular property is scheduled for a showing is a good indication of how much interest buyers have in that listing. Similarly, tracking showings on a nationwide basis can offer a big-picture look at home buyer trends and the level of overall interest in buying a house.

According to recent numbers collected as part of the ShowingTime Showing Index, home showings increased 7.3 percent year-over year in September, with big increases seen in the Northeast and Midwest. In fact, the Midwest rose 8.3 percent. Taken as a whole, the data suggests that there is growing interest in homeownership among Americans, with significant increases in the number of home showings across nearly every region.

However, since home sales aren’t showing equally large gains, it could be an indication that there are a lot of interested buyers but not as many homes available for them to buy. If you are considering buying or selling a home contact Jennifer today!

 

This advertisement was provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E 6th St. Jennifer can be reached at 402-721-9700 for answers to questions regarding your real estate needs.

Renting a Home is Getting More Expensive

Many people assume that renting is always going to be cheaper than buying a house. Mostly, this is because of the upfront costs associated with buying. Having to come up with closing costs and a down payment, in addition to taking on a monthly mortgage payment can be intimidating for someone who wants to buy but feels it’ll be easier and more affordable to rent.

New data shows this is particularly true right now and it’s driving up the costs of renting a single-family home. Dr. Svenja Gudell, Zillow’s chief economist, says the current environment is causing the increase. “Those who want to buy are finding it difficult to find the right one, or may need a bit more time to come up with a down payment, but still want the advantage of space that single-family residences often provide,” Gudell said. “This, coupled with the foreclosure crisis turning millions of homeowners into renters, is a big reason why demand for single-family rental homes has risen over the last few years.”

What this means is that, if you hope to buy but aren’t sure you’re ready, it’s important to research your options. In many markets, buying is still more affordable than renting, and may be especially so if you’re looking to rent a single-family home rather than an apartment.

 

 

This advertisement was provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E 6th St. Jennifer can be reached at 402-721-9700 for answers to questions regarding your real estate needs.

The Real Reason There Are Fewer Homes For Sale

These days, many markets are suffering from a lack of homes for sale. And where there are fewer homes to buy, there are higher prices and more competition among buyers. But what’s behind the shortage? Well, a new survey reveals the real reason homeowners have decided to stay put and it’s probably not what you’d expect.

The survey found simple demographics may be the biggest factor. A closer look at the numbers reveals that younger homeowners have plans to sell in the near future but the vast majority of baby boomers don’t. In fact, 85 percent of older homeowners said they had no plans to sell in the next year. This, however, isn’t that odd. Older Americans have always been less likely to move. The difference these days is that the overall population has grown older.

The share of Americans between the ages of 55 and 74 has risen 30 percent in the past 30 years. That means, there are more older homeowners who aren’t that likely to put their homes up for sale. The good news, though, is that 60 percent of owners who said they were hoping to sell within the next year are millennials, which means there could soon be more affordable homes on the market for interested first-time buyers.

 

 

This advertisement was provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E 6th St. Jennifer can be reached at 402-721-9700 for answers to questions regarding your real estate needs.

Cash Sales Are A Sign Of A Competitive Market

Most people don’t buy their house with cash. In fact, historically cash sales account for just 10 percent of all home sales. But, according to Freddie Mac’s most recent monthly outlook, the fact that the number of homes for sale remains lower than normal has caused a higher than normal number of cash sales.

“Usually, not many people like to invest a lot of cash into real estate, which is illiquid and has high transaction costs,” Freddie Mac’s chief economist, Sean Becketti, says. “However, in the current, highly competitive housing market, a cash offer is an effective way to gain an advantage over other bidders.” Still, cash sales are well below their peak of 35 percent, with a share closer to 18 percent according to the most recent data.

Overall, Freddie Mac expects mortgage rates to remain low through the end of the year and home sales to surpass last year’s numbers. However, low inventory remains an issue. The outlook says home sales would have been much higher if not for the fact that many markets have fewer homes for sale than is typical. Locally here in Fremont, we are still experiencing a lower than average number of homes for sale. If you are considering a change, it’s still a great time to sell!

 

This advertisement was provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E 6th St. Jennifer can be reached at 402-721-9700 for answers to questions regarding your real estate needs.

Number Of Showings Up 10% Over Last Year

If you had any doubt that home buyers are active this fall and looking to buy, some new numbers should help put that notion to rest. New research shows that the number of showings – which refers to a professionally arranged tour of a home for sale – are up 10.3 percent nationally over the same time last year.

Regionally speaking, the Northeast saw the largest jump, with a 15.2 percent increase as of June. However, the Midwest and South also saw double-digit improvements. In fact, only the West saw a slight year-over-year decline. The numbers are a good indication of how much interest there is this fall from potential home buyers.

That’s good news for homeowners who are looking to sell their house, as it adds to the growing evidence that, in many markets, there are more buyers than homes for sale. Of course, that also means home buyers that are looking to buy this season should be prepared to move quickly, as good homes aren’t going to stay on the market very long.

 

This advertisement was provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E 6th St. Jennifer can be reached at 402-721-9700 for answers to questions regarding your real estate needs.

Don Peterson & Associates – Ask The Experts – KFMT 105.5FM – September 21, 2017

Connie Hladik and Angie Kuester discuss acreages, the housing inventory, upcoming open houses, current listings.  Listen below!

 

Housing Market Improves Despite Challenges 

The National Association Of Home Builders’ Leading Markets Index compares current price, building permits, and employment levels to their previous norms in 337 markets across the country. The index is an effort to measure how quickly individual markets have recovered following the housing crash and financial crisis.

According to the most recent release, 196 metro areas have returned to or exceeded their last normal levels of economic and housing activity as of the second quarter of this year. In other words, housing markets across the country continue to make gains, despite current challenges.

Granger MacDonald, NAHB’s chairman, says the report shows that the recovery has been widespread. “This report shows that the housing and economic recovery is widespread across the nation and that housing has made significant gains since the Great Recession,” Granger said. “However, the lagging single-family permit indicator shows that housing still has a ways to go to get back to full strength.” Among the three main index components, building permits are still falling behind previous norms, while price and employment levels have largely rebounded.

 

This advertisement was provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E 6th St. Jennifer can be reached at 402-721-9700 for answers to questions regarding your real estate needs.

Why New Home Sales Should Matter To You

There are many parts to a healthy housing market. Whether you’re talking about home prices, mortgage rates, new home construction, or another housing metric, each one of them have an effect on home buyers and sellers – even if some of those effects aren’t as obvious as others.

Take new home sales. If you’re not looking to buy a new house, how does it affect you? Well, for one, when new homes are in demand, more new homes get built. And, when more new homes get built, the boosted inventory of homes for sale can help reduce price increases. For example, the current housing market’s main challenge is too few homes for sale. Because inventory has been low in many markets, buyers have seen prices go up and choices decline.

So, news that new home sales increased nationally for the second straight month is encouraging because increasing sales could help spur more new homes to be built, which would help balance the market and keep prices from becoming unaffordable for the average buyer.

Locally here in Fremont, the city has permitted 21 new residential homes thru July with 6 more in review. Compared to previous years, this is quite an increase! So, even if you aren’t in the market for a new home, you could indirectly benefit from more new homes being bought and sold in your neighborhood.

 

 

 

This advertisement was provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E 6th St. Jennifer can be reached at 402-721-9700 for answers to questions regarding your real estate needs.

Don Peterson & Associates – Ask The Experts – KFMT 105.5FM – July 13, 2017

 

Janice Pruss and Libby Headid discuss John C. Fremont Days parade as well as some real estate tips for getting your home sale ready.  Listen on to hear  5 simple tips!