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Housing Market Snapshot [INFOGRAPHIC]

Some Highlights:

Home sales are up 1.5% year-over-year and 5.1% month-over-month.
Demand is still much higher than the available housing inventory which declined 2.2% from March 2015.
This is the 49th consecutive month with year-over-year price gains.

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Sales Up In Nearly Every Price Range

Sales Up In Nearly Every Price Range | Simplifying The MarketThe National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure.

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Where is Housing Headed for the Rest of 2016?

Where is Housing Headed for the Rest of 2016? | Simplifying The MarketWith the overall economy just inching along, some experts are questioning whether the housing market can continue its momentum throughout the rest of the year. People are beginning to ask questions such as:

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Americans Rank Real Estate #1 Long Term Investment

Americans Rank Real Estate #1 Long Term Investment | Simplifying The MarketThe Gallup organization recently released a survey in which Americans were asked to rank what they considered to be the “best long term investment.” Real estate ranked number one, with 35% of those surveyed saying it was a better long term investment than stocks & mutual funds, gold, savings accounts or bonds.

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Billionaire: Buy a Home… And if You Can, Buy a Second Home!

Billionaire: Buy a Home… And if You Can, Buy a Second Home! | Simplifying The MarketThree years ago, John Paulson gave a keynote address at the CNBC/Institutional Investor Conference. In his speech, he told those in attendance that he believes housing will continue its strong recovery for the next 4 to 7 years, saying that:

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Housing Inventory Disappearing

Housing Inventory Disappearing | Simplifying The MarketThe price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report which gives insight into today’s market conditions.

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Investment Home Sales Rebound in 2015 [INFOGRAPHIC]

Some Highlights:

  • 2015 marks the first year-over-year increase in investment home sales since 2011.
  • 62% of all investment homes purchased were single family homes.
  • The South saw the highest percentage of investment home sales (39%) with the West coming in second (28%).
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Investors: More Sales and Higher Prices

Investors: More Sales and Higher Prices | Simplifying The MarketThe National Association of Realtors recently released their 2016 Investment and Vacation Home Buyers Survey. The survey revealed many characteristics of both vacation home purchasers and investors. Two weeks ago, we posted on the vacation home market. Today, we want to concentrate on the investor real estate market.

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One More Time… You Do Not Need 20% Down To Buy NOW

One More Time… You Do Not Need 20% Down To Buy NOW | Simplifying The MarketA survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today. 

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Homes Continue to Sell Quickly Nationwide

Homes Continue to Sell Quickly Nationwide | Simplifying The MarketThe National Association of Realtors (NAR) recently released their latest Existing Home Sales Report, which revealed that homes were on the market for an average of 47 days in March. This is a decrease from the 59 days reported in February, as well as the 52 days reported back in March 2015.

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New Home Buyers Look For Green Options [INFOGRAPHIC]

Some Highlights:

11% of new homebuyers stated “energy efficient features” as the reason for their purchase.
The most popular remodeling projects done for energy efficiency were insulation upgrades, HVAC replacements, and vinyl & wood window inst…

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Thinking of Selling? The Market Needs Your Listing!!

Thinking of Selling? The Market Needs Your Listing!! | Simplifying The MarketThe housing market is really heating up and buyer demand is dramatically increasing as we enter the spring season. However, one challenge to the current market is a major shortage of inventory. Below are a few comments made in the last month by industry experts.

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Home Prices Are Up…But There is a Challenge

Home Prices Are Up…but there is a Challenge | Simplifying The MarketHome values continue to climb and are projected to increase by about 5% over the next twelve months. That is great news for anyone who owns a home. However, it could present a challenge for a family trying to sell their house.

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If You Are Thinking of Selling, Now Is The Time

If You Are Thinking of Selling, Now Is The Time | Simplifying The MarketIf you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.

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Buying a Home is 36% Less Expensive Than Renting Nationwide!

Buying a Home is 36% Less Expensive Than Renting Nationwide! | Simplifying The MarketIn the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

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Over Half of Americans Planning on Buying in the Next 5 Years

Over Half of Americans Planning on Buying in the Next 5 Years | Simplifying The MarketAccording to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also included other interesting revelations.

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You Can Save for a Down Payment Faster Than You Think

You Can Save for a Down Payment Faster Than You Think | Simplifying The MarketIn a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

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More & More Singles Are Falling For Their Dream Home [INFOGRAPHIC]

Some Highlights:

  • 24% of all recent home buyers were single at the time of purchase.
  • 47% of single men cite the desire to own a home of their own as the primary reason to buy.
  • 18% of first-time buyers were single women.
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Building Wealth: First Rung on the Ladder is Housing

Building Wealth: First Rung on the Ladder is Housing | Simplifying The MarketHow Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is “an online resource for the most rigorous research and practical information on how a quality, stable, affordable home in a vibrant community contributes to individual and community success”.

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Sales Contracts Hit Highest Level in Months

Sales Contracts Hit Highest Level in Months | Simplifying The MarketThe National Association of Realtors (NAR) just announced that the February Pending Home Sales Index reached its highest reading since July 2015.

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Past, Present & Future Home Values

Past, Present & Future Home Values | Simplifying The MarketIn CoreLogic’s latest Home Price Index, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month, and projected appreciation over the next twelve months.

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The Top 5 Reasons You Should Not For Sale By Owner

The Top 5 Reasons You Should Not For Sale By Owner | Simplifying The MarketIn today’s market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of those reasons:

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Home Sales Up Year-Over-Year

Some Highlights

  • This is the 48th consecutive month with year-over-year price gains.
  • Lawrence Yun, NAR’s Chief Economist says that, “The main issue continues to be a supply & affordability problem. Finding the right property at an affordable price is burdening many potential buyers.”
  • Inventory is still below historic normals at a 4.4 month supply.
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Further Proof This Isn’t a Housing Bubble

Further Proof This Isn’t a Housing Bubble | Simplifying The MarketTwo weeks ago, we posted a blog which explained that current increases in home prices were the result of the well-known concept of supply & demand and should not lead to conversations of a new housing bubble. Today, we want to look at home prices as compared to current incomes.

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