Based on recent data and our revised outlook for mortgage rates, expect a slight increase
in home sales in 2017 to just above 6 million home sales.
In fact, unless you've been
involved in a home sale before, there are many things you will be learning about for the first time.
I expect up to 25 percent of subprime households to be unable to secure a loan, contributing to a
drop in home sales over the next two years of up to 250,000 units.
For the most part, normal seasonal trends are responsible for slowing month - to - month
changes in home sales, the report stated.
This past summer saw a small increase
in home sales over last year and I believe the trend is going to continue into the fall.
If there's a correction in markets today, it's
in home sales volume and housing starts, not in home prices.
A refrigerator, washer and dryer set and other appliances may be
included in a home sale, but if they're not, ask for them.
Many of these are the first - time borrowers who helped fuel the growth we
saw in home sales over the last few years.
A
climb in home sales and insufficient supply caused home prices to steadily rise in most metro areas in the second quarter of 2015.
In the grand scheme of things, whether a seller includes
appliances in a home sale shouldn't matter as much as having your offer accepted.
We're in the midst of a post — tax credit
pause in home sales, but the length and depth of the pause don't depend heavily on consumer spending.
The report predicts a drop of roughly 10 per
cent in home sales and housing starts this year and national price increases in the mid single digits.
While there is justified skepticism about the presence and strength of a
recovery in home sales, the rental market has been bullish for the better part of three years.
Growth in home sales and prices is contributing to a broader improvement in the overall economy, aided in part by current homeownership tax treatment.
It can take 15 - 90 days to complete all the steps
involved in a home sale, depending on the complexity of the transaction.
In the past, a 10 percent
drop in home sales would have dealt a vicious blow to a brokerage like ours.
The
rise in home sales over the past year included a small rebound from first - time buyers and single women.
This past summer saw a small
increase in home sales over last year and I believe the trend is going to continue into the fall.
If you're the one who's worried, remember that tax ramifications are just one
factor in a home sale or purchase decision.
With an overall
decline in home sales during 2010, the volume of 543,000 vacation - home sales was down 1.8 percent from 553,000 in 2009.
«The San Francisco Bay Area posted modest year - over-year
gains in home sales this May and June, but a tight inventory and waning affordability have taken a toll, and July 2017 sales fell to the lowest level for a July in six years,» said Andrew LePage, research analyst at CoreLogic.
This goes in line with the current predictions by National Association of Realtors ® and should translate into the expected 3 % growth
in home sales for this year.
Markets in the South and Midwest (which the company refers to as the «Bargain Belt») could experience an uptick
in home sales activity.
Practitioners» confidence
in the home sales market over the next six months increased dramatically, even as they reported a weakening housing market for the seventh straight month.