The housing market is recovering as home sales and prices rise while inventory declines. Mortgage rates remain low, making housing highly affordable for buyers. The economy is also improving with rising retail sales, business optimism, and falling unemployment claims. This favorable environment is expected to further strengthen the housing recovery in 2011.
The document discusses the state of the housing market in California. It notes that while prices rose quickly in 2013, driven by low inventory and investors, the market may be reaching a tipping point. Rising mortgage rates have slowed buyer demand and impacted affordability. However, inventory levels are starting to increase, and investors are playing a smaller role. While interest rates caused pause, the recovery is expected to continue as buyers adjust to new market conditions. The recovery is moving toward a more sustainable pace led by traditional buyers and sellers.
The document summarizes key real estate market trends in Canada from December 2009. Home sales increased 72% year-over-year in December, while the average home price rose 19% to $337,410 nationally. Inventory levels also increased from the previous year, but remained low overall indicating a strong seller's market. Mortgage rates remained low at 5.49% for a 5-year fixed rate, supporting buyer demand. The document also discusses recent economic events and provides tips for home buyers in competitive bidding situations.
The document provides an overview of the national and local real estate markets in early 2016. It notes that in 2015, the national market saw low interest rates, improved employment and a balanced supply and demand. Locally, new listings decreased while pending sales and prices increased. The report discusses factors that contributed to the strong market in 2015 and expectations for continued strength in 2016, including low fuel costs and improving personal budgets. It also includes a sidebar on why 2016 is a good time to buy or sell and tips on potential homeowner tax deductions.
- Home sales fell below year-ago levels for the first time in 14 months due to the expiration of the federal tax credit, though prices remained stable. Mortgage rates set new record lows.
- The new financial reform law establishes new regulations for mortgages, credit reports, credit/debit cards, and creates a Consumer Financial Protection Bureau.
- Buying a home with a 15-year mortgage allows buyers to build equity faster by paying off the loan sooner. Local lenders may offer more competitive rates than large banks.
The August 2011 Real Estate newsletter published for North Central Ohio. National US Real Estate News provided by Keller Williams Realty with regional news, information, and market statistics provided by Paul W. Drury of Greater Cleveland West.
This Month in Real Estate, August 2011, as published by Paul W. Drury is a compilation of news, analysis, and information for the National Real Estate markets and provided by Keller Williams Realty International and the regional North Central Ohio news and stats provided by Paul W. Drury, of Greater Cleveland West, A Keller Williams Realty Franchise.
The housing market continues to gradually improve without government support. Home sales and prices rose in January while inventory fell, indicating stability. Mortgage rates are expected to trend upward in 2012 but buyers are taking advantage of low rates and favorable conditions. The recovery is gaining strength as lending standards and the job market improve.
This Month in Real Estate PowerPoint for U.S. Market - September 2010Keller Williams Careers
- Home sales fell below year-ago levels for the first time in 14 months due to the expiration of the federal tax credit, while home prices remained stable. Mortgage rates continued setting new record lows.
- The new financial reform law establishes new regulations for mortgages and credit cards intended to protect consumers.
- Buying a home with a 15-year mortgage allows buyers to build equity faster by paying off the loan sooner compared to a 30-year loan.
Housing activity remains above year-ago levels despite the expiration of tax credits. Home prices have stabilized with similar levels of distressed home sales as last year, though the economy still has further recovery ahead. Consumers are saving more and spending cautiously. While this reduces near-term spending, it positions households financially for the future. The Federal Reserve continues measures to support the economy through low interest rates and may reinvest maturing mortgage bonds to stimulate growth.
The document discusses the state of the housing market in California. It notes that while prices rose quickly in 2013, driven by low inventory and investors, the market may be reaching a tipping point. Rising mortgage rates have slowed buyer demand and impacted affordability. However, inventory levels are starting to increase, and investors are playing a smaller role. While interest rates caused pause, the recovery is expected to continue as buyers adjust to new market conditions. The recovery is moving toward a more sustainable pace led by traditional buyers and sellers.
The document summarizes key real estate market trends in Canada from December 2009. Home sales increased 72% year-over-year in December, while the average home price rose 19% to $337,410 nationally. Inventory levels also increased from the previous year, but remained low overall indicating a strong seller's market. Mortgage rates remained low at 5.49% for a 5-year fixed rate, supporting buyer demand. The document also discusses recent economic events and provides tips for home buyers in competitive bidding situations.
The document provides an overview of the national and local real estate markets in early 2016. It notes that in 2015, the national market saw low interest rates, improved employment and a balanced supply and demand. Locally, new listings decreased while pending sales and prices increased. The report discusses factors that contributed to the strong market in 2015 and expectations for continued strength in 2016, including low fuel costs and improving personal budgets. It also includes a sidebar on why 2016 is a good time to buy or sell and tips on potential homeowner tax deductions.
- Home sales fell below year-ago levels for the first time in 14 months due to the expiration of the federal tax credit, though prices remained stable. Mortgage rates set new record lows.
- The new financial reform law establishes new regulations for mortgages, credit reports, credit/debit cards, and creates a Consumer Financial Protection Bureau.
- Buying a home with a 15-year mortgage allows buyers to build equity faster by paying off the loan sooner. Local lenders may offer more competitive rates than large banks.
The August 2011 Real Estate newsletter published for North Central Ohio. National US Real Estate News provided by Keller Williams Realty with regional news, information, and market statistics provided by Paul W. Drury of Greater Cleveland West.
This Month in Real Estate, August 2011, as published by Paul W. Drury is a compilation of news, analysis, and information for the National Real Estate markets and provided by Keller Williams Realty International and the regional North Central Ohio news and stats provided by Paul W. Drury, of Greater Cleveland West, A Keller Williams Realty Franchise.
The housing market continues to gradually improve without government support. Home sales and prices rose in January while inventory fell, indicating stability. Mortgage rates are expected to trend upward in 2012 but buyers are taking advantage of low rates and favorable conditions. The recovery is gaining strength as lending standards and the job market improve.
This Month in Real Estate PowerPoint for U.S. Market - September 2010Keller Williams Careers
- Home sales fell below year-ago levels for the first time in 14 months due to the expiration of the federal tax credit, while home prices remained stable. Mortgage rates continued setting new record lows.
- The new financial reform law establishes new regulations for mortgages and credit cards intended to protect consumers.
- Buying a home with a 15-year mortgage allows buyers to build equity faster by paying off the loan sooner compared to a 30-year loan.
Housing activity remains above year-ago levels despite the expiration of tax credits. Home prices have stabilized with similar levels of distressed home sales as last year, though the economy still has further recovery ahead. Consumers are saving more and spending cautiously. While this reduces near-term spending, it positions households financially for the future. The Federal Reserve continues measures to support the economy through low interest rates and may reinvest maturing mortgage bonds to stimulate growth.
- Canada's housing market is stabilizing with home sales and prices falling back in line with historical trends. The Canadian economy remains strong compared to other major economies.
- While mortgage rates fell in August, rates are expected to increase going forward to keep inflation in check as the economic recovery takes hold.
- Canadians purchased more property in the United States than any other country in the past year, with many buying in warmer states like Florida and Arizona that have lower home prices.
The document provides commentary and data on the US housing market in mid-2011. It summarizes key metrics driving the real estate market including home sales, prices, inventory, mortgage rates, and affordability. It also outlines recent government actions and provides tips for home buyers, sellers, and owners. Finally, it provides information about Keller Williams Realty and local real estate agent Paul Drury.
The housing market recovery slowed in July after the homebuyer tax credit expired, with home sales falling below year-ago levels for the first time in 14 months. However, home prices remained stable and mortgage rates set new record lows, maintaining historically high affordability. The job market and economy recovery remained concerns. New financial reform laws aimed to strengthen consumer protections for mortgages and credit reporting.
A detailed presentation concerning the National real estate market by Keller Williams Realty and the local North Central Ohio real estate market by Paul W. Drury.
The document provides commentary on recent trends in the US housing market. It discusses how home sales have risen above year-ago levels for the first time since the home buyer tax credit expired, indicating continued recovery without government support. It also notes that while home prices softened slightly in January due to higher distressed home sales, mortgage rates and prices remain favorable for buyers. Housing inventory continues to decline while months of housing supply dropped to its lowest level in over a year. The document also summarizes upcoming increases to Federal Housing Administration mortgage insurance premiums.
Shawn Kormondy of Kelller Williams Realty and REIS GROUP, Inc. present "This Month in Real Estate, September 2009. This report features interesting data on who is buying, what those people are buying and how they are funding the purchase.
The document discusses the state of the housing market in Southwest California. It notes that home prices have increased 22% year-over-year in June 2013, with median prices reaching their highest levels since 2008. Home sales have remained steady while inventory has risen, alleviating pressure. Distressed home sales now make up a smaller portion of the market. The recovery appears to be continuing but uncertainty remains around employment, the economy, and new state regulations governing foreclosures. The author advocates restoring a tax exemption for senior homeowners to attract more to the region and boost the economy.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across North America. The aim of the consumer-oriented segments is to help Keller Williams Realty realtors combat the “doom and gloom” messages of the national print and television media with real information on the state of the real estate market.
The document summarizes positive trends in the US housing market in late 2013 and early 2014 according to a government report. Home values continued rising in late 2013 and were near mid-2000s levels. Homeowners' equity also increased, rising over 55% since 2011. The number of underwater borrowers declined significantly since 2012, lifting many homeowners above water. With improving affordability and interest rates, the housing market was gearing up for a strong spring buying season.
- Home sales in 2014 are expected to hold steady at around 5.12 million units, similar to projected sales in 2013. Median home prices are forecast to rise nearly 6% in 2014 after an expected 11% increase in 2013.
- Inventory shortages continue to put upward pressure on home prices. Housing starts need to increase substantially to meet demand and alleviate the shortage.
- Mortgage rates are projected to rise through 2014, reaching over 5% by year-end, which will impact affordability. Job growth and potential easing of lending standards could offset higher rates.
- Inflation may start to rise in 2014 as the rent component increases, emphasizing the need for more new home construction to control price growth
The real estate market in the Portland metro area saw decreases in activity in November compared to previous months. Closed sales were down 1% from October but up slightly from November of the past two years. Pending sales were also higher than the past two Novembers. Inventory saw a small drop, which is positive for sellers. The brokerage expects a record number of sales in December despite the overall RMLS numbers due to increased buyer activity recently.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across North America. The aim of the consumer-oriented segments is to help Keller Williams Realty realtors combat the “doom and gloom” messages of the national print and television media with real information on the state of the real estate market.
This document provides an overview and analysis of the US housing market in September 2009. It discusses signs of recovery including rising home sales and stabilizing home prices. Existing home sales increased for the 4th consecutive month in July. First-time buyers and distressed home sales continue to drive the market. Mortgage rates remain low, improving affordability. The government's homebuyer tax credit and "Cash for Clunkers" programs boosted the economy. Overall the market indicates continued recovery, though unemployment remains high.
This Month in Real Estate - May 2011 May 2011pdrury
May 2011 issue of This Month in Real Estate. National News by Keller Williams Realty and North Central Ohio regional / local news by Paul W. Drury of Greater Cleveland West
The document summarizes recent data and trends in the US housing market. Home sales slowed in December after the tax credit deadline but remained above year-ago levels. Median home prices rose 1.5% year-over-year while inventory fell 6.6%. Mortgage rates are under 5% and affordability remains high. The FHA tightened lending requirements to protect itself. Steps were also taken to streamline mortgage modifications and help foreclosure buyers purchase faster.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to help agents combat the “doom and gloom” messages of the national print and television media with real information on real estate.
This document provides a summary of recent developments in the US housing market in August 2009. It discusses signs of recovery such as rising home sales and prices. It also summarizes key housing market indicators like inventory, mortgage rates, and affordability. Recent government actions to help homeowners and first-time buyers are also outlined.
The document discusses recent housing market trends and government actions. It provides data on home sales, prices, inventory, mortgage rates, and affordability. Recent government action extended the homebuyer tax credit deadline. Topics for home buyers, sellers, and owners include real estate investing opportunities and working with a local Keller Williams agent to understand the local market.
Maria Mendoza reflects on how participating in a school project on cellphone use changed her perspective. She initially did not see the value of the project but through research came to understand how cellphones could help students. The project provided evidence that changed her view and allowed her to explain the benefits of cellphones to others. She believes the new G2 program will help students accomplish even more in the future.
The student discusses several school projects they worked on, including a budget project, game board project, and cell phone project. For each project, they had to plan out the work, meet deadlines, interpret evidence accurately, collaborate well with partners, and ensure each person contributed equally. The student learned that turning assignments in late is problematic and that teamwork requires fair distribution of tasks.
- Canada's housing market is stabilizing with home sales and prices falling back in line with historical trends. The Canadian economy remains strong compared to other major economies.
- While mortgage rates fell in August, rates are expected to increase going forward to keep inflation in check as the economic recovery takes hold.
- Canadians purchased more property in the United States than any other country in the past year, with many buying in warmer states like Florida and Arizona that have lower home prices.
The document provides commentary and data on the US housing market in mid-2011. It summarizes key metrics driving the real estate market including home sales, prices, inventory, mortgage rates, and affordability. It also outlines recent government actions and provides tips for home buyers, sellers, and owners. Finally, it provides information about Keller Williams Realty and local real estate agent Paul Drury.
The housing market recovery slowed in July after the homebuyer tax credit expired, with home sales falling below year-ago levels for the first time in 14 months. However, home prices remained stable and mortgage rates set new record lows, maintaining historically high affordability. The job market and economy recovery remained concerns. New financial reform laws aimed to strengthen consumer protections for mortgages and credit reporting.
A detailed presentation concerning the National real estate market by Keller Williams Realty and the local North Central Ohio real estate market by Paul W. Drury.
The document provides commentary on recent trends in the US housing market. It discusses how home sales have risen above year-ago levels for the first time since the home buyer tax credit expired, indicating continued recovery without government support. It also notes that while home prices softened slightly in January due to higher distressed home sales, mortgage rates and prices remain favorable for buyers. Housing inventory continues to decline while months of housing supply dropped to its lowest level in over a year. The document also summarizes upcoming increases to Federal Housing Administration mortgage insurance premiums.
Shawn Kormondy of Kelller Williams Realty and REIS GROUP, Inc. present "This Month in Real Estate, September 2009. This report features interesting data on who is buying, what those people are buying and how they are funding the purchase.
The document discusses the state of the housing market in Southwest California. It notes that home prices have increased 22% year-over-year in June 2013, with median prices reaching their highest levels since 2008. Home sales have remained steady while inventory has risen, alleviating pressure. Distressed home sales now make up a smaller portion of the market. The recovery appears to be continuing but uncertainty remains around employment, the economy, and new state regulations governing foreclosures. The author advocates restoring a tax exemption for senior homeowners to attract more to the region and boost the economy.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across North America. The aim of the consumer-oriented segments is to help Keller Williams Realty realtors combat the “doom and gloom” messages of the national print and television media with real information on the state of the real estate market.
The document summarizes positive trends in the US housing market in late 2013 and early 2014 according to a government report. Home values continued rising in late 2013 and were near mid-2000s levels. Homeowners' equity also increased, rising over 55% since 2011. The number of underwater borrowers declined significantly since 2012, lifting many homeowners above water. With improving affordability and interest rates, the housing market was gearing up for a strong spring buying season.
- Home sales in 2014 are expected to hold steady at around 5.12 million units, similar to projected sales in 2013. Median home prices are forecast to rise nearly 6% in 2014 after an expected 11% increase in 2013.
- Inventory shortages continue to put upward pressure on home prices. Housing starts need to increase substantially to meet demand and alleviate the shortage.
- Mortgage rates are projected to rise through 2014, reaching over 5% by year-end, which will impact affordability. Job growth and potential easing of lending standards could offset higher rates.
- Inflation may start to rise in 2014 as the rent component increases, emphasizing the need for more new home construction to control price growth
The real estate market in the Portland metro area saw decreases in activity in November compared to previous months. Closed sales were down 1% from October but up slightly from November of the past two years. Pending sales were also higher than the past two Novembers. Inventory saw a small drop, which is positive for sellers. The brokerage expects a record number of sales in December despite the overall RMLS numbers due to increased buyer activity recently.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across North America. The aim of the consumer-oriented segments is to help Keller Williams Realty realtors combat the “doom and gloom” messages of the national print and television media with real information on the state of the real estate market.
This document provides an overview and analysis of the US housing market in September 2009. It discusses signs of recovery including rising home sales and stabilizing home prices. Existing home sales increased for the 4th consecutive month in July. First-time buyers and distressed home sales continue to drive the market. Mortgage rates remain low, improving affordability. The government's homebuyer tax credit and "Cash for Clunkers" programs boosted the economy. Overall the market indicates continued recovery, though unemployment remains high.
This Month in Real Estate - May 2011 May 2011pdrury
May 2011 issue of This Month in Real Estate. National News by Keller Williams Realty and North Central Ohio regional / local news by Paul W. Drury of Greater Cleveland West
The document summarizes recent data and trends in the US housing market. Home sales slowed in December after the tax credit deadline but remained above year-ago levels. Median home prices rose 1.5% year-over-year while inventory fell 6.6%. Mortgage rates are under 5% and affordability remains high. The FHA tightened lending requirements to protect itself. Steps were also taken to streamline mortgage modifications and help foreclosure buyers purchase faster.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to help agents combat the “doom and gloom” messages of the national print and television media with real information on real estate.
This document provides a summary of recent developments in the US housing market in August 2009. It discusses signs of recovery such as rising home sales and prices. It also summarizes key housing market indicators like inventory, mortgage rates, and affordability. Recent government actions to help homeowners and first-time buyers are also outlined.
The document discusses recent housing market trends and government actions. It provides data on home sales, prices, inventory, mortgage rates, and affordability. Recent government action extended the homebuyer tax credit deadline. Topics for home buyers, sellers, and owners include real estate investing opportunities and working with a local Keller Williams agent to understand the local market.
Maria Mendoza reflects on how participating in a school project on cellphone use changed her perspective. She initially did not see the value of the project but through research came to understand how cellphones could help students. The project provided evidence that changed her view and allowed her to explain the benefits of cellphones to others. She believes the new G2 program will help students accomplish even more in the future.
The student discusses several school projects they worked on, including a budget project, game board project, and cell phone project. For each project, they had to plan out the work, meet deadlines, interpret evidence accurately, collaborate well with partners, and ensure each person contributed equally. The student learned that turning assignments in late is problematic and that teamwork requires fair distribution of tasks.
This document lists six zoning presentations given by Stu Shade, Principal Project Architect at Mitsch Design. The presentations were for a speculative office building in Noblesville, Indiana, courtyards at Carmel Creek in Noblesville, Illinois Place Condominiums in Indianapolis, and two professional office complexes and a senior living center in Carmel and Avon, Indiana.
Mitsch Design worked on several retail projects in Indiana, including Boardwalk Shoppes Retail Center in Carmel, Cumberland Pointe Marketplace in Noblesville, and the 4 Seasons Sales Area at Allisonville Nursery in Fishers. The document lists Mitsch Design Retail Stu Shade as the Principal Project Architect for Boardwalk Shoppes Retail Center in Carmel, Indiana.
This document lists 5 projects for Mitsch Design Remodel including the Carter Toy Museum in Zionsville, Indiana, the Brick Street Inn Historic Bed and Breakfast also in Zionsville, Indiana, Heavenly Sweets in Noblesville, Indiana, and a Law Office in Carmel, Indiana with Stu Shade as the Principal Project Architect.
The document lists several religious projects that Mitsch Design provided architectural services for including a retreat and conference center for Rainbow Christian Camp in Converse, Indiana, Arcadia Christian Church in Arcadia, Indiana, site development plans for Arcadia Christian Church, Korean Presbyterian Church in Indianapolis, Indiana, Little Eagle Creek Christian Church in Westfield, Indiana, and master planning for Mephibosheth Ministries in Cicero, Indiana.
The document provides instructions to take screenshots of a map of the Western Hemisphere from both Google Images and Google Earth, rename the screenshots to "Western Hemisphere", and save them in a Geography folder.
Mitsch Design Residential Architecture has designed several custom residences in central Indiana cities including Carmel, Fishers, Cicero, and Noblesville between 2012-2016. The document lists the location of each custom residence project without providing details about the scope or size of each individual project.
Stu Shade is the principal project architect at Mitsch Design and has led commercial projects including an auto research center, dental offices, commercial condominiums, shoppes, an animal hospital, office development, manufacturing facilities, and a medical professional building in cities around Indiana such as Indianapolis, Carmel, Fishers, and Mount Comfort.
This document discusses key map elements and their purposes, including the title, compass rose, and inset maps. It prompts the reader to label these elements on a sample map, and explains that the title identifies the area and topic shown, while the compass rose and inset maps provide additional location information. It also instructs the reader to label important physical features and hemispheres on the main map and inset map.
Investigating the past lesson 1 social sciencespsburger
This document introduces the social sciences as areas of study related to human society. Social scientists study clues and written records left by humans to solve the "mystery" of what happened in the past and what it means. Specifically, the document discusses archaeologists, historians, and geographers, describing them as detectives who study the past. Archaeologists investigate artifacts like tools and buildings. Historians study written records such as diaries and newspapers. Geographers map natural and human-made features of the environment.
- The housing market continues its gradual recovery without government assistance like tax credits, while interest rates hit new lows but have started rising as the economy improves. Consumer confidence and retail sales are up substantially from last year.
- Home sales dipped slightly in October but pending sales rose over 10%, signaling stronger future sales. Inventory fell as prices stabilized near 1% changes. Affordability remains near record highs.
- The government extended conforming loan limits in expensive markets to provide continued support through 2011 as the market strengthens without as much assistance. Overall the document discusses positive economic and housing market trends.
The housing market continues to gradually improve without government support. While home prices and sales have declined compared to last year, inventory levels have returned to pre-tax credit levels. Low interest rates are encouraging buyers, but are expected to rise over 2012. Employment growth needs to continue for a full housing recovery, as jobs enable people to buy homes. Stimulus efforts will gradually wind down, but buyers still have favorable conditions in the market.
1) The housing market is showing signs of recovery with rising home sales, stabilizing prices, and favorable conditions for buyers and sellers.
2) Recent government actions include a new credit card law to protect consumers and an expansion of the first-time homebuyer tax credit to help with closing costs.
3) Homeownership remains affordable and advantageous due to low mortgage rates, home price declines, and tax benefits. Research is provided to help buyers and sellers navigate the current market.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to help agents combat the "doom and gloom" messages of the national print and television media with real information on real estate.
This document provides summaries of recent developments in the real estate market, including:
1) Pending home sales have increased significantly and more signs point to a recovery in the housing market.
2) First-time home buyers are driving activity due to tax credits, and this is expected to spur more sales in coming months.
3) Housing affordability remains high due to low mortgage rates and home prices, contributing to favorable buying conditions.
Monthly real estate newsletter featuring national and local trends from North central Ohio. National news by Keller Williams Realty International and local trends by Paul W. Drury
The document summarizes the latest data and trends in the US housing market. It reports that home sales increased in August after declining due to the expiration of the homebuyer tax credit in July. Home prices remained stable year-over-year while mortgage rates hit new lows. Inventory levels declined slightly from the previous month. The Federal Reserve also took action to support the economy through bond purchases. Experts anticipate continued recovery in both the economy and housing market.
The document summarizes the latest data and trends in the US housing market. It reports that home sales increased in August after declining due to the expiration of the homebuyer tax credit in July. Home prices remained stable year-over-year while mortgage rates hit new lows. Inventory levels declined slightly. The Federal Reserve aims to support the economy through low interest rates. Fannie Mae is offering incentives for buyers of foreclosed homes to boost sales.
- August home sales were up 18.6% year-over-year and inventory fell 10.5% from the previous month, suggesting the housing market is showing signs of stability and growth despite economic uncertainties.
- Job security remains the top concern for many potential home buyers, though low interest rates are making homes more affordable.
- While distressed home sales still account for over 30% of the market, falling inventory and gains in sales volume could lead to a rise in home prices in the future.
Detailed National and North Central Ohio Market snapshot newsletter. National news brought to you by Keller Williams Realty and local news by Paul W. Drury
The document provides an overview of the housing market and real estate topics. It summarizes recent housing data showing continued slow growth in home sales and prices. Mortgage rates remain at historic lows, keeping housing highly affordable. The document also discusses the prime conditions for home buyers, including low prices and rates, motivated sellers, and available financing. It concludes by introducing Keller Williams Realty, the organization that produced the document.
- Home sales fell below year-ago levels for the first time in 14 months due to the expiration of the federal tax credit, while home prices remained stable. Mortgage rates continued setting new record lows.
- The new financial reform law establishes new regulations for mortgages, credit reports, credit/debit cards, and creates a Consumer Financial Protection Bureau to regulate consumer loans.
- Buying a home with a 15-year mortgage allows buyers to build equity faster by paying off the loan sooner compared to a 30-year loan. Local lenders may offer more competitive rates than large banks.
This monthly real estate report provides an overview of economic indicators and housing market trends in Canada. While Canada has officially emerged from recession, recovery will be gradual and unemployment remains a concern. The housing market is rebounding with home sales and prices rising significantly year-over-year, but new listings are still below last year's levels. Mortgage rates remain low, benefiting homeowners.
- The economic recovery is gaining traction slowly, with first quarter GDP growth of 3.2% indicating a sustainable recovery, though it remains subdued compared to past recessions. High unemployment and foreclosures continue to hamper a robust recovery.
- Existing home sales strengthened in March, up 6.5% from February and 16% from the previous year, with 44% of sales being first-time buyers. The median home price was up 0.4% from a year ago.
- Total housing inventory rose slightly but is down 1.8% from the previous year, indicating the market may bottom out in the next few months. Fannie Mae shortened the waiting period for a new mortgage after a short sale
The document summarizes recent housing market data and trends. Mortgage rates are at record lows but job growth is needed for sustained recovery. Home sales increased year-over-year but slowed in May. Prices rose slightly from a year ago but distressed home sales still impact the market. Inventory levels remained similar to last year, supporting price stability. Affordability remains high due to low prices and rates.
The document summarizes housing market trends in March 2011. It notes that home sales were up 3.7% from the previous month but down 6.3% from March 2010. Home prices rebounded 2.2% but remain below year-ago levels. Inventory levels remained stable compared to the previous month. Mortgage rates have remained stable around 4.8% and housing affordability continues at record levels. The document also provides updates on government incentives and topics for home buyers, sellers and owners such as staging a home for sale.
The document summarizes recent trends in the Canadian housing market. Prices are at an all-time high but are expected to increase at a slower rate as tighter mortgage regulations and rising interest rates cause the market to become more balanced. Home sales declined in May from the previous month due to fewer purchases in major cities. New listings also declined slightly for the first time in eight months as the market adjusts to changing conditions. The Canadian economy remains strong overall despite the rate hike by the Bank of Canada.
- The document discusses recent economic and real estate market data from April 2010, including increased existing home sales, stable home prices, declining inventory, and high affordability due to low mortgage rates.
- It also summarizes a recent policy change by Fannie Mae to shorten the waiting period for homeowners going through a short sale to get a new mortgage, as well as provides summer home maintenance tips.
- The document concludes by noting the importance of consulting a local real estate agent to understand conditions in one's specific housing market.
The document provides an overview of the positive economic signs in Canada over the past year, including increased consumer spending and confidence, an expected boost from the upcoming Olympics, and signs of a strengthening housing market such as record home sales and rising prices. It also summarizes recent mortgage rates, exports, job postings data and expectations for a thaw in salary freezes in 2010, indicating further economic recovery. Local real estate conditions may vary so buyers and sellers are advised to consult their Keller Williams agent for specific market insights.
The document summarizes the current state of Canada's housing market. It reports that home sales increased slightly in August after declining earlier in the year. Home prices remained stable on a year-over-year basis, with increases seen in most markets. The housing market is considered balanced, with new listings adjusting to demand. Mortgage rates remained low despite recent interest rate hikes by the Bank of Canada.
Similar to This Month in Real Estate - Jan 2011 (20)
2. The housing market is recovering. As more home buyers are taking advantage of the improved affordability conditions. With mortgage rates hovering around recent record lows and home prices having generally stabilized, economists are expecting an upward trend to a healthy and sustainable level in 2011. Encouraging signs are showing up across the economy. Retail sales recently hit their highest level since before the recession. Key measures of small and big businesses’ optimism marched back up to prerecession levels and new claims for jobless benefits are trending lower. Together they bode well for steady job creation and improved consumer confidence which is generally manifested in more spending. As the economy improves, current stimulus efforts by the government and the Federal Reserve Board are expected to gradually wind down. Meanwhile, serious buyers stand to benefit from historically favorable buying conditions. Commentary
4. Home SalesIn Millions Existing home sales resumed on an upward trend since bottoming in July. Sales activity rose to a seasonally adjusted annual rate of 4.68 million in November. This was up 22% from July and 5.6% above the 4.43 million level in October, but remained 27.9% below the 6.49 million tax credit rush a year ago. As steady job creation is expected to continue, industry experts are hopeful for 2011. First Credit Set to Expire Nov 30 Second Tax Credit Expired Extended and Expanded Home Buyer Tax Credit Renewed November 7 Must have contract signed by April 30 Must close by June 30 Gradual Recovery Without Tax Credit November ’09-’10 November ’08-’09 Latest Data Release: December 22, 2010 Source: National Association of Realtors
5. Home PriceIn Thousands Home prices continued to stabilize. Median home prices edged up slightly to $170,600, 0.4% above year-ago levels. Distressed homes have accounted for a fairly stable market share, representing 33% of sales in November. This is on par with the 34% in October and 33% in November 2009. Historically favorable interest rates, coupled with stable home prices, continue to offer advantageous buying opportunities . November ’08-’09 November ’09-’10 Latest Data Release: December 22, 2010 Source: National Association of Realtors
6. Inventory -In Millions Number of homes available for sale The number of homes on the market continued to decline. Total inventory fell to 3.71 million in November from 3.86 million in October. This reflects the increasing response from buyers to improved affordability conditions. As lending standards return to historical norms and consumers become more confident about their financial situation, more people will be able to buy their first home, move up, or invest. November ’08-’09 November ’09-’10 Latest Data Release: December 22, 2010 Source: National Association of Realtors
7. Supply of InventoryIn Months A steady increase in home sales and a shrinking inventory are cutting down the month’s supply to 9.5. This is one month down from October and one and a half months below last year. While still at a relatively high level, months of inventory has declined substantially since its peak of 12.5 months in July. November ’08-’09 November ’09-’10 Latest Data Release: December 22, 2010 Source: National Association of Realtors
8. Mortgage rates are inching up but remain historically low. This trend continues to support home buying as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check. Mortgage Rates30-Year Fixed Source: Freddie Mac
9. The percentage of a median family’s income required to make mortgage payments on a median-priced home Affordability -Percentage of Income Housing affordability set a new record in November. The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to begin drawing affordability back up toward more normal levels. Affordability as of November every year. Calculations assume a 20% down payment. Source: National Association of Realtors
12. The legislation …Extends the Bush-era income tax cuts on income, capital gains, and dividends for two years Reduces Social Security payroll tax rates by 2% for one year on income up to $106,800 Extends jobless benefits for 13 months Allows businesses to write off 100% of capital investments between September 9, 2010 and December 31, 2011. Extends dozens of expired and expiring tax breaks, including a research and development tax credit and a college tuition tax credit that was created in last year’s economic stimulus law. Sets the estate tax rate at 35% for two years and would apply it only to estates worth more than $5 million. Under current law, the estate tax has lapsed for 2010 and is set to jump next year to 55%. -The tax cut is expected to put more money in the pockets of families most likely to spend it, help businesses to grow and as a result, spark demand, spur job creation, and strengthen the economy in 2011. -Many economists predict the tax package could increase the economic expansion rate by a substantial one percent next year. Sources: wsj.com
14. Use the Season to Your Home-Selling Advantage While summer is generally known as the peak season for home sales activity, the winter can also offer great advantages for sellers – such as less competition from other sellers. With a little effort, you can use the season to your home-selling advantage. Let’s put these ideas to work, so your home shows at its best. Keep snow and ice at bay.If the buyer can't get in easily, the house won't sell. That means keeping walkways and driveways free of the frozen stuff. You want to make the home look well maintained. Warm it up. Think warm, cozy, and homey. Before a buyer comes through, adjust the thermostat to a warmer temperature to make it welcoming. If you have a fireplace, turning it on right before the tour can create a more welcoming ambience. Emphasize winter positives.Is your home on a bus route or some other vital service that means it's plowed or deiced regularly in bad weather? Be sure to mention that to the buyers. Make it festive. Even if you're not actually going to be present, greet your buyers as if they were going to be guests at a party. Set up the dinner table with the good china and silver. Have a plate of cookies for your guests, some warm cider, or even chilled bottles of water. Use the season to your advantage. When the holidays are over, you can still use winter wreaths and dried arrangements around the door to spark interest. In the winter, with the leaves off the trees, you might also have a nice view that isn't as apparent in the spring and summer months. Sources: msn.com
15. Your Local Market Although it is important to stay informed about what is going on in the national economy and housing market, many different factors impact the real estate market in your own area. Talk to your Scott Cearley @ 314.583.5202 for assistance interpreting the conditions in your local market. Scott Cearley is equipped with the knowledge and information to help you navigate the home-buying or selling process in this challenging market.
16. The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc. does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.