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Housing Supply Overview We are firmly within summer during an economically strong year in the U.S., thus real estate activity is busy. There are still generally more buyers than sellers in most price and housing style categories, so prices will continue to rise until that situation changes. For the 12-month period spanning July 2017 through June 2018, Pending Sales… Read more »

                The National Flood Insurance Program (NFIP) will expire on July 31, denying necessary insurance coverage to homeowners and buyers in more than 20,000 communities nationwide. Congress must act now to reform and extend the NFIP. Take action by urging Congress to extend the NFIP and pass meaningful reforms to… Read more »

Did you know that Western Upstate Multiple Listing Service now has a free mobile app that you can share with your clients? Real estate moves fast and mobility is vital.  Your clients have grown to expect “always on” level of care and service from you. The GoMLS mobile app allows you to share your branded… Read more »

Housing Supply Overview Supply remains low in most markets and categories. Buyer demand continues to show that there is room for growth, but we still have not reached a point where a year-over-year increase in the number of homes for sale can be anticipated. For the 12-month period spanning April 2017 through March 2018, Pending Sales in the Western… Read more »

Housing Supply Overview Mortgage rates are on the rise. When this happens, it means that buyers in the lower-priced categories tend to have the dilemma of choosing to pay more for their desired home, paying less to get less, waiting for more listings or saving more money toward a downpayment. For the 12-month period spanning March 2017 through February… Read more »

Housing Supply Overview As we enter 2018, it will be most interesting to watch demand dynamics, as home sales have been lower in several markets over the last few months. Whether this is related to there being not enough homes for sale, prices getting too high or less buyer interest remains to be seen. For the 12-month period spanning… Read more »

Housing Supply Overview Inventory was again a driving metric in residential real estate in 2017, whether the fewer number of homes available put a damper on sales or created lower affordability due to competitive demand between eager buyers willing to raise the percent of original list price received at sale. For the 12-month period spanning January 2017… Read more »

Housing Supply Overview The primary housing storyline for the past two years remains the same. Demand is high, supply is low and interest rates have been steady. There are a few signs that indicate an increase in the number of homes for sale in 2018. For now, inventory remains low in most submarkets. For the 12- month… Read more »