Apostal Group

Interesting facts about the current housing market Niko Apostal 07/16/13

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Our friends at Coldwell Banker® recently published a great infographic full of interesting facts about the housing market right now. Here is what it says:

  • At today’s prices and rents, buying would be cheaper than renting until the 30-year fixed rate reaches 10.5%. (Source: Trulia.)
  • Even at a 5% fixed rate, buying would be 34% cheaper than renting. (Source: Trulia.)
  • Prices have increased so much that homeowners with negative equity have fallen to less than 20% of all buyers. (Source: Bloomberg.)
  • “Flash sales” are happening in the Chicagoland market. Flash sales are when a home is sold within 24 hours of listing. This is because of the use of technology, espeically instant mobile alerts for new listings. Gone forever are the days of waiting two weeks for the 10-pound MLS book to be printed. (Source: Wall Street Journal.)
  • Buyer competition is so stiff that in some markets, we are seeing a quarter of the sales going for more than asking price. (Source: Orlando Sentinel.)
  • Nationally this spring, home prices rose to the highest annual growth rate in seven years. (Source: Case-Shiller index.)
  • Demand among homebuyers is so high in some parts of the country, builders are holding lotteries to decide who gets to purchase homes in their developments. (Source: CNN Money.)
  • In this market, both buyers and sellers are winners. Sellers love the rising home prices and affordability remains high due to low interest rates for buyers. (Source: WSJ MarketWatch.)
  • As the market is improving, REOs and short sales have been a significantly smaller part of the business. Nevada had one of the highest rates of foreclosusres. Not any more. Ninety percent of all currently available homes are non-distressed traditional homes with equity. (Source: RIS Media.)
  • Seventy-one percent of Bloomberg customers says the recent home price increase in major US markets is evidence of a genuine recovery in values. (Source: Bloomberg.)