Housing: The MVP of the Recovery

By | Market Stats

U.S. Single-family Homebuilding, Permits Surge to More than 13-year High Single-family homebuilding hit its highest level since 2007 in September, cementing the housing market as the MVP of the economic recovery. The housing market has been a bright spot in the economy despite 25.3 million people being on unemployment benefits. Unemployment has disproportionately affected low-wage… Continued

October 21, 2020

Man Holding a $20 Bill

A Homeowner’s Net Worth Is 40x Greater Than a Renter’s

By | Market Stats

Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps getting wider over time, making homeownership more and more desirable for those who are ready.

October 8, 2020

Existing-home Sales in August Continued to Climb

By | Market Stats

Existing-Home Sales: August Reaches Highest Level Since December 2006
By RISMedia Staff

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Existing-home sales in August continued to climb, reaching an all-time high since December 2006 and marking three consecutive months of positive sales gains, according to the National Association of REALTOR® (NAR).

September 28, 2020

Homes Across the Country Are Selling Fast

By | Market Stats

Average Days to a Pending Contract is 22 days. Buyers are actively searching for and purchasing homes at a record-breaking pace. According to the latest report from the National Association of Realtors (NAR). With homes moving from listing day to pending sale in an average of just 22 days, it’s a great time to sell a house.

September 18, 2020

Realtor.com Danielle Hale on the Inventory 38% down

Seller Friendly Housing Dynamics in the Market

By | Market Stats | 1 Comment

Seller Friendly Housing Dynamics in the Market. This week, Chief Economist Danielle Hale discusses the new low in mortgage rates, the implications for home purchase mortgage activity, and what next week’s Fed meeting could mean for rates given this week’s consumer and producer inflation data.

September 16, 2020

Girl Playing in a Moving Box

Is Now a Good Time to Move?

By | Market Stats

Is now a good time to move? Dialing back 10 years, many homeowners also locked in a fairly low mortgage rate. In 2010, the average rate was only 4.09%. This motivated homeowners to stay in their houses longer than usual to keep their rate low, rather than moving. Just last Thursday, however, average mortgage rates hit a new historic low at 2.86%. You can now afford a lot more home if you were to move considering the market.

September 15, 2020

people walking in the city showing buyer foot traffic increased

Homebuyer Traffic Is on the Rise

By | Market Stats | 2 Comments

Homebuyer Traffic Is on the Rise Michael Mahoney | Realtor | Century 21 September 9, 2020 One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales… Continued

September 10, 2020

Home Sweet Home - A picture of a student virtual schooling

The Word Home is Taking on a New Meaning

By | Market Stats

The word “home” is taking on a whole new meaning this year, and buyers are starting to look for new features as they re-think their needs and what’s truly possible. From more outdoor space to virtual classrooms for their children, buyers have a growing list of what they’d like to see in their homes. Let’s connect today if your… Continued

September 4, 2020

couple in boston having difficulty getting a house under agreement

Homebuyer Demand Is Far Above Last Year’s Pace

By | Market Stats | 6 Comments

Homebuyer Demand Is Far Above Last Year’s Pace Michael Mahoney Realtor® e: mike@mmahoney.com w:www.RealtorMikeMahoney.com c:617-615-9435   Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder… Continued

September 3, 2020

Weekly Review of Greater Boston Real Estate Market

By | Market Stats | 4 Comments

Weekly Review of Greater Boston Real Estate Market Michael Mahoney Realtor® e: mike@mmahoney.com w:www.RealtorMikeMahoney.com c:617-615-9435 Each week I do my own research on single families, condos and multi family homes in Norfolk and Suffolk County.  I have been keeping track of the new listings, pendings and total active inventory since the “re-opening” society with Covid…. Continued

September 2, 2020

Builder and Realtor Confidence is Back

Builders & Realtors Agree: Real Estate Is Back

By | Market Stats | 4 Comments

Builders & Realtors Agree: Real Estate Is Back
Builders & Realtors Agree: Real Estate Is Back | MyKCM
When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit. Countless analysts predicted buyer demand would disappear and home values would depreciate for the first time in almost a decade. That, however, didn’t happen. It appears the opposite is taking place.

After the bottom fell out of the real estate market immediately following the shutdown, it has come roaring back – and seems to still be gaining steam. Here’s a look at two recent reports – one from the National Association of Home Builders (NAHB) and one from the National Association of Realtors (NAR) – showing this growing strength.

August 25, 2020