by The KCM Crew on April 17, 2017 in For Sellers

If 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.

Jonathan Smoke, Chief Economist at realtor.com, revealed in a recent article that:

“The biggest challenge to buyers this spring will be simply finding a home to buy and getting it successfully under contract. That’s because the supply of homes for sale is at an all-time low, and yet demand is strong and getting stronger.”

Smoke goes . . .

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by The KCM Crew on April 10, 2017 in For Sellers, Housing Market Updates, Pricing

There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly.

After all, 15,014 houses sold yesterday, 15,014 will sell today and 15,014 will sell tomorrow. 15,014!

That is the average number of homes that sell each and every day in this country, according to the?National Association of Realtors’ (NAR)?latest?Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.48 million. Divide that number by 365 (days in a year) and we can see that, on average, over 15,014 homes sell every . . .

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by The KCM Crew on March 7, 2017 in For Sellers, Housing Market Updates

That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun, Chief Economist for the National Association of Realtors, said:

“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home. Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate…”

And CNBC says . . .

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by The KCM Crew on February 1, 2017 in For Buyers, For Sellers, Housing Market Updates

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only six states had a weak demand level.

Seller Supply

The Index also . . .

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by The KCM Crew on January 27, 2017 in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Move-Up Buyers

Highlights: 5.45 million existing homes were sold in 2016! This is the highest mark set since 2006.Inventory of existing homes for sale dropped to a 3.6-month supply, the lowest level since NAR began tracking in 1999.The median price of homes sold in December was $232,200. This is the 58th consecutive month of year-over-year price gains. . . .

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