Skip to main content

Are Seller’s Still Controlling Housing Market? Team Thayer #realestate #housing #market #economic #news #oregon


Tech Sights BHDespite strong sales and shrinking inventory, the recent Redfin Housing Market Tracker from Nela Richardson, Chief Economist for Redfin, states that home prices rose at the slowest pace of the year, up just 4.4 percent from last year.
The report states that the average home sold for 93.8 percent of its list price. This was down from 94.4 percent last year which Richardson states signals that buyers’ bargaining position increased in August.
Home sales increased 14.2 percent in August from a year ago, according to the report and this was noted to be a sizeable rebound from July’s decline. Richardson states that this is widespread, with 48 of 91 metro areas reporting double-digit increases in sales.
The boost is cited to be due in part to a calendar aberration in July that pushed out some closings into August. Additionally, the report notes that in August 2015 sales fell 18 percent from the previous month and grew by just 2.6 percent year over year making it the low point in an otherwise strong year for housing.
Home inventory was reported to continue its decline for the 11th month in a row showing an 8 percent year-over-year drop. This is the widest margin of 2016. Richardson states that after taking a step back from the market in July, sellers were active in August and new listings were up 2.4 percent. The report shows that this was the biggest increase in five months.
In addition, the number of homes sold in the first eight months of the year was 6 percent higher than the same period last year. The report states that this affirms 2016 is the best year in housing since the downturn. Richardson states that there would have been even more sales if inventory had been able to keep pace with ferocious buyer demand.
“To be clear, it’s still firmly a sellers’ market, but the seller can no longer dictate any price they want, they have to price the home right,” Richardson told DS News. “With inventory where it is, it’s going to be a sellers’ market for a long time, but buyers are getting some relief. Price growth slowed to its lowest pace of the year. There is still a big pool of buyers, but the difference now is that buyers are much more patient. The sense of urgency is not there and this latest action by the Fed that just reaffirms to buyers that there is time to wait for the right home. If you look at average sale to list ratio – it fell from a five-year high 95.5 percent in June to 93.8 percent in August. In expensive markets like San Francisco, days on market is double what it was last year at this time.”
The report also notes that there is still enough steam from that demand for a healthy pace of sales to continue in September. Pending home sales were reported to be up 17.3 percent year over year as well as 6.4 percent month over month in August. Richardson states that the upshot is that the market is hitting a sweet spot in the third quarter in which there is both high buyer demand for homeowners looking to sell and cooling prices for buyers ready to purchase.
Click  link Below To Find Foreclosed Homes In Oregon


Team Thayer  www.teamthayer.com

Popular posts from this blog

The top 5 mistakes people make selling their homes. Team Thayer Official Oregon Real Estate News.

5 home selling mistakes with Team Thayer 1. Trying to sell your home yourself In this DIY era, the urge to try to sell your home yourself to save money can beckon like the smell of oven-fresh cookies at an open house. Resist.  Working with a licensed agent  helps ensure you’re not leaving money on the table as a result of an off-target listing price or a mistake in the many steps that lead to a final sale. Sell your sofa yourself online. List your home with a professional. 2. Picking the wrong Realtor Not all agents are equal. Just because your college buddy dabbles in the industry doesn't mean he’s the best guy to sell your home. You want experience. You want to  work with an agent  who has a depth of knowledge. Invite your buddy to the house-warming party.  Find an agent  who can truly perform. Do you research.  Top Home Sales Mistakes 3. Pricing your home too high Sometimes it’s good to aim high. But when you’re setting a price for your home, it’s better to b

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our  UFC 227 discussion thread . You can als