Tuesday, June 2, 2020 / by Marty Gum
As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the big picture, supply and demand will give us the clearest idea of what’s to come.
Making our way through the month of June and entering the second half of the year, we face an undersupply of homes on the market. Keep in mind, this undersupply is going to vary by location and by price point. According to the National Association of Realtors (NAR), across the country, we currently have a 4.1 months supply of homes on the market. Historically, 6 months of supply is considered a balanced market. Anything over 6 months is a buyer’s market, meaning prices will depreciate. Anything below 6 months is a seller’s market, where prices appreciate. The graph below shows inventory across the country since 2010 in months supply of homes for sale.Robert Dietz,&nb ...
Tuesday, June 2, 2020 / by Marty Gum
Record Low Inventory and Record High Prices
This is your http://altosresearch.com/ data for Monday June 1, 2020 with the latest real estate analytics that came in over the weekend for the whole US. The headline for today is that the inventory of available homes for sale right now is at its lowest level ever and home prices have surged to their highest level ever. There are fewer homes on the market now than at any time since recording began. Altos Research was founded in 2006 and we’ve been tracking the US housing market in real time since then. As demand for homes continues to outpace supply of homes for sale, our available inventory keeps shrinking week over week. Normally June is when we reach peak inventory and transaction volume for the year. 2020 started the year, pre-crisis at the fewest homes for sale ever. Each January of course is normally the fewest homes on the market. Because of the sales rate this week, we dropped to only 719,000 single family homes for sale in t ...
Wednesday, July 31, 2019 / by Matt Schrimpf
Matt Schrimpf – Your Luxury Real Estate Expert at the Lake of the Ozarks
Matt Schrimpf is an experienced Real Estate professional with in-depth, exclusive knowledge of the Lake of the Ozarks area. Supported by advanced search tools, organizational technology, and mobile computing, Matt provides a detailed, connected and quality real estate experience that every prospective buyer can enjoy. Matt is also backed by the power of experience as a co-owner of Berkshire Hathaway HomeServices, Lake Ozark Realty.
He has worked hard over the last 15 years to build his own brand that much like Berkshire Hathaway’s is built on strength and reliability. Matt was Born and raised at Lake of the Ozarks and has spent his entire life becoming educated on the lake. He has taken professional classes in the art of negotiation, earned the Certificate of Designation as a Luxury Home Specialist from Berkshire Hathaway, and has graduated from The Institute for Luxury Ho ...
Tuesday, May 28, 2019 / by Marty Gum
In today’s housing market, home prices are increasing at a slower pace (3.7%) than they have over the last eight years (6-7%). However, they are still are above historical norms. Low supply of listed homes and high demand from buyers has pushed prices to rise rapidly.
In the mind of the homeowner, annual home price appreciation over 6% has become the new normal. This becomes a challenge when a homeowner looks to refinance or sell their home, as the expectation of what the homeowner believes the home should be worth does not always line up with the bank’s appraisal.
Every month, the Home Price Perception Index (HPPI) measures the disparity between what a homeowner seeking to refinance their home believes their house is worth and what an appraiser’s evaluation of that same home is.
Over the last five months, the gap between the homeowner’s opinion and the bank’s appraisal has widened to -0.78%. This is important for homeo ...