Market data and conditions

Sellers Market is Losing Wind in its Sails

This summer, for the first time in about four years, there were signs that the supply-demand balance was becoming more even. This year, there was a noticeable lull in demand in August. It is “normal” for the real estate sales volume to drop in August.  For the past four year, no summer doldrums; the normal drop in

By |2018-10-08T11:15:13+00:00October 10th, 2018|Categories: Market data and conditions|

Good Time to Downsize

A rising market favors people who are downsizing because the higher the property value, the greater the sale of the more expensive, bigger property. This offsets the higher price of the downsized, smaller property, assuming both properties are rising at the same rate. Suppose you own a house that was worth $650,000 before the mini-bubble.

By |2018-06-28T17:33:15+00:00July 11th, 2018|Categories: Market data and conditions, Money and finance, thinking of selling?|

Assessed Value Has No Relationship to Market Price

Junk data hurts buyers by creating distraction from understanding market value. Buyers need to know market value in order to negotiate for the fair price. Assessed value has no relationship to market price. But, but, but…how can a property be worth more than what the town or city assesses it for? Don’t the town or city

By |2018-05-06T13:54:20+00:00May 23rd, 2018|Categories: Buying trends, Market data and conditions|Tags: , , |

Cars and Houses

Households with no cars were rare in 1996. Even among people who commuted to work solely by mass transit or bicycle, there was a car. When the house next door to me went up for sale in 1996, my new neighbor was a man in his 30s who did not have a driver’s license. He

By |2018-05-06T12:44:37+00:00May 16th, 2018|Categories: House Hunting, Market data and conditions|

Spring Market Might be Good for Buyers, says Wall Street Journal

How does a seller’s market end? A seller-favoring market exists when there is more demand for housing than supply. Since about 2012 or 2013, buyers found fewer properties for sale than they did during the recession (when foreclosures added to the number of houses and condos for sale.) Limited supply created the seller-favoring market we’ve

Data designed for marketing

Almost all of the data designed for marketing is, well, marketing. It is designed to give consumers a sense of urgency, so they will buy and sell. A former client wrote me: Hey Rona, Hope you are well. Do these numbers look accurate to you? -J. Are the numbers accurate? Yes. A licensed real estate agent

By |2018-02-18T09:35:35+00:00February 21st, 2018|Categories: Market data and conditions|

Seller’s market: Signs that it will end

We’ve been in a seller’s market – where there is more demand than supply – since spring of 2012. It takes a while to get perspective on a market that is changing. To figure out when price inflation began to pick up again, I looked back on my blogs. I found this one, from February

Credit score changes. Who loses?

You know that real estate bubble I keep saying is inflating? It just got a pump of air. I agree with Jim Morrison at Banker and Tradesman that easing credit restrictions is the wrong thing to do. It didn’t go well in 2006, and it won’t end well this time. What’s happened? Credit reporting has

Affordability, Summer 2017

Here’s the headline: Real estate prices just passed the line for affordability. This is news. When a market passes the point where average consumers can buy, the market is headed into a bubble. Yet RIS, the source of the info, does not conclude that the market is about to correct, yet. First, a definition: affordability

By |2017-07-17T11:07:12+00:00July 5th, 2017|Categories: Market data and conditions|Tags: , , |