The sale of your home can depend on the local housing market or the national housing market. Check here for more information and updates about the state of the housing market, and advice on how to buy or sell in any kind of market.
Second Homes For A New Year
In 2002, more than 6.5 million existing and newly constructed homes were sold, a new record. Although sales of new and existing homes are breaking records, sales of second homes are increasing faster than sales of primary residences. Sales of investment or vacation homes have increased by 25 percent over the last five years to $50 billion per year and are projected to grow to $150 billion by 2005.
Chicago Housing Market Slows
The past year was a record-breaking year for sales of existing and new homes, but fourth quarter sales have slowed. This could be a sign that the housing market is softening. Sellers need to be prepared to have their houses on the market longer as they compete with more sellers. However, as the market turns, it could be a perfect time for buyers to find a great opportunity.
Are Housing Prices A Bubble That’s Going To Burst Like The Stock Market?
Over the past five years, the average house has increased in value by more than 30 percent. Are housing prices a bubble that's going to burst like the stock market? But it's possible that we could continue to see house prices continue to go up in value.
Real Estate Market Struggles After 9-11
After the terrorist attacks of 9-11, the real estate market began to struggle. New construction slowed down and to boost the economy, the Fed lowered interest rates. These lower interest rates helped lower mortgage rates but it may not be enough to help the struggling real estate market. Learn about the post 9-11 real estate market in this story.
Selling Your Home? How To Survive A Buyer’s Market
If you're thinking of selling your home before the end of the year, you could be in for a rude awakening. While sellers have controlled the residential real estate market for the past five years, that is no longer the case. Home buyers now have some leverage and sellers are getting nervous.
Buying And Selling In Scary Times
We live in scary times, and the fear factor is starting to have an effect on what up until now had been the strongest part of the economy - the housing market. Interest rates are at their lowest levels in more than 30 years. The first half of the year set new records for home sale activity. But the fear factor, driven by an undercurrent of recession and ignited by the terrorist attacks on September 11th, has caused many home buyers and sellers to pull back and wait until things settle down.
State Of The Nation’s Housing
According to a newly-released report, housing prices are going up, as are the numbers of homeowners. The supply of new housing, for purchase and for lease, isn't keeping up with demand. In the past few weeks, many economists have said they can't believe how fast the demand for housing is growing.
Is The Market Finally Slowing Down?
Is it summer, or is the market finally slowing down? The no longer one-sided market has some stark implications from home buyers and sellers. Learn what buyers and sellers should be aware of in a housing market that seems to be losing steam.
Making The Most Of Memorial Day And Other Holidays
Times have really changed. Holiday weekends like Memorial Day, Fourth of July, Labor Day, Thanksgiving, Christmas and Easter were once considered off-limits for home buyers and sellers. It was difficult to find agents who were willing to work on those days, since they were convinced that home buyers were busy celebrating with friends and family. Today, there are few days off in the real estate business.