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Monthly Archives: February 2017

    How Long Do Most Families Stay in Their Home?

    By Danny Cheung | February 28, 2017

    The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost... Read More

    Where Are the Home Prices Heading in the Next 5 Years?

    By Danny Cheung | February 27, 2017

    Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next... Read More

    Existing Home Sales Reach Highest Mark Since 2007

    By Danny Cheung | February 24, 2017

    Highlights: Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million. January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900. NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust... Read More

    The Impact of Homeownership on Family Health

    By Danny Cheung | February 23, 2017

    The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans: “Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the... Read More

    Are You 1 of the 59 Million Planning to Buy This Year?

    By Danny Cheung | February 22, 2017

    According to a survey conducted by Bankrate.com, one in four Americans are considering buying a home this year. If this statistic proves to be true, that means that 59 million people will be looking to enter the housing market in 2017. The survey also revealed 3 key takeaways: Those most likely to buy are ‘Older... Read More

    Access: A Key Component in Getting Your House SOLD!

    By Danny Cheung | February 21, 2017

    So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers. There are four elements to a quality listing. At the top of the list is Access, followed by Condition,... Read More

    US Housing Market Is Moving into ‘Buy Territory’!

    By Danny Cheung | February 20, 2017

    According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question: In today’s housing market, is it better... Read More

    Do You Know the Real Cost of Renting vs. Buying?

    By Danny Cheung | February 17, 2017

    Some Highlights: Historically, the choice between renting or buying a home has been a close decision. Looking at the percentage of income needed to rent a median-priced home today (30%), vs. the percentage needed to buy a median-priced home (15%), the choice becomes obvious. Every market is different. Before you renew your lease again, find... Read More

    The Impact of Homeownership on Civic Involvement

    By Danny Cheung | February 16, 2017

    The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans: “Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the... Read More

    The Great News About Rising Prices for Homeowners

    By Danny Cheung | February 15, 2017

    Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise. The great news... Read More