Zillow recently revealed that the 43 million renter households in the US spent $535 billion on rent in 2015. Aggregate numbers like these often make it difficult to truly assess a situation. For more clarity, we want to share some points that were made in a Wall Street Journal article earlier this month.
The housing crisis is finally in the rear view mirror as the real estate market moves down the road to a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2016 will be the year that the housing market again races forward. (more…)
People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.
The Mortgage Bankers’ Association (MBA) recently released a report: ‘Housing Demand: Demographics And The Numbers Behind The Coming Multi-Million Increase In Households’. In this study, the MBA “utilized a comprehensive analysis of data from 1976 to 2014, a period encompassing several market and housing cycles, to provide a projection of much stronger housing demand over the next decade.”
The National Association of REALTORS’ just released the results of their latest Pending Home Sales Index, which showed a small 1.4% decline in signed contracts in August. Pending sales remain strong year-over-year as they were 6.1% higher than August ’14 and have now risen for 12 consecutive months.