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A closer look at housing markets across the country

Housing Wire

That’s reflected in home prices, where the median Honolulu home sold for $975,000 in the second quarter of 2021, according to the National Association of Realtors , a climb of 20% year-over-year. The “Queen city of the Ozarks” needs more homes. Still, Augusta home prices are not immune to national trends.

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How Is the Winter Market Faring to Date?

Eppraisal

Home sales are expected to increase another 6.6% and home prices to rise another 2.9% The Housing Market Bubble Will Not Burst According to an article, Will the U.S. and data from Freddie Mac, low interest rates and limited availability of homes in desired areas led to an overall increase of home prices of 11.3%

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Home Search Strategies for 2022

Eppraisal

It is no secret that many home buyers are having a hard time finding a home to purchase. The inventory of homes available for sale was on the low side even before the Covid 19 pandemic. According to data from Realtor.com, "The inventory of homes for sale dropped 53% between April 2020 and April 2021."

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Which Generations Are Buying Houses Today?

Eppraisal

The current real estate market is like no other in history in there is a lack of inventory of homes being listed for sale. According to an article in Keeping Current Matters, "A balanced real estate market's inventory sits around 6 months. It's never too early to start preparing to purchase your first home.

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Listing Agent Commissions

Eppraisal

An informative article on realtor.com, The Real Estate Commission: How Much Are Realtor Fees? This is especially true if you have a high-priced home. Home values have been rising and many real estate agents are benefiting from this. A 6% commission on a $945,000 home is $56,700.

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Making the Decision to Stop Renting

Eppraisal

Qualify to Purchase a Home If you are thinking of purchasing a home, you must first be able to qualify for a mortgage. According to the same article from ipropertymanagement.com, an alarming 41% of renters spend over 35% of their income on rent alone. You make the decisions to make changes to the home.

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Appraisals derail sales in the tight Chicago market!

Chicagoland Appraisal Blog

I came across a Facebook post from an appraiser friend of mine about an article written in the Chicago Tribune titled Homebuyers who pay cash win deals as appraisals derail sale in tight Chicago market. The article touches on a variety of things that I’d like to respond to such as the reference to the shortage of appraisers.