Real Estate News and Commentary
news, commentary, and opinion
Who would have thought that housing and real estate would flourish when the economy went into a pandemic lockdown? Back in April, a NAR news release prepared the industry for a devastating spring. NAR chief economist, Lawrence Yun stated: “Home sales will decline this spring season because of unique economic and social consequences resulting from …
The current US economy just hit a milestone by becoming the longest stretch of economic growth in our Nation’s modern history. The expansion is now in the 121st month. The previous expansion record was 120 months, and occurred between March 1991 and March 2001. Most attribute the dot-com bubble as the precipitating event that ended …
After last year’s active spring, the housing market’s fall home sale decline shocked many. Although home sales were on target to outpace the previous year’s activity, the slowdown diminished the spring’s impact. In fact, the National Association of Realtors (nar.realtor) January 22nd press release indicated a sharp decline of home sales during December. The 6.4 …
It’s no secret that housing is expensive. Home prices are relentlessly marching forward, making it more difficult for first-time home buyers to purchase a home. One of the contributing factors is the low inventory of homes for sale. The deficiency of homes on the market is limiting options and stoking competition among determined home buyers, …
Prior to the Great Recession, home owner spending for remodeling and renovations was very strong. Besides remodeling the kitchen and bathrooms, many home owners also created specialty rooms (also known as special function rooms) in their homes. Specialty rooms such as home theaters and media rooms were not just trendy because they were cool to …