Monday, August 28, 2023 / by Kenneth Brands
Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.
The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.
It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked in the first half of each year (during the peak homebuying season in the spring) and slowed as each year came to a close.
When the pandemic hit in March of 2020, that trend was disrupted as the market responded to the resulting uncertainty (shown in blue in the middle). From there, we entered the ‘unicorn’ years of housing (sho. ...
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Monday, August 14, 2023 / by Kenneth Brands
Plenty of people are still moving these days. And if you’re thinking of making a move yourself, you may be considering the inventory and affordability challenges in the housing market and wondering what you can do to help offset those. A new report from Gravy Analytics provides insight into where people are searching for homes and what they’re prioritizing most right now. That information could help you plan your own move.
1. People Are Moving to Cities with Lower Housing Costs
One big factor motivating where buyers are going is affordability and that’s no big surprise. People are relocating to areas that have less expensive housing options. As a result, small cities are thriving. Hannah Jones, Economics Data Analyst at Realtor.com, summarizes why:
“Affordability is still very much front and center . . . a lot of what’s available is outside of the price range of many buyers. . . .. ...
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Monday, June 5, 2023 / by Denese Berardesco
Understanding the local residential real estate market is a crucial step towards making a successful property investment or sale. In McKinney, Texas, several key factors influence this dynamic market, including local economic conditions, neighborhood development, housing demand, and the professional expertise of local realtors. As one of the best real estate agents in McKinney, Texas, I, Denese Berardesco, aim to provide you with an objective and thorough analysis of these factors.
Economic Conditions and Housing Demand
McKinney's strong and diverse local economy plays a significant role in driving housing demand. Over the years, the city has attracted several businesses and industries, creating numerous job opportunities and attracting a steady influx of newcomers. This growing population fuels housing demand, impacting both home prices and rental rates.
However, this robust demand can also pose challenges. On the one hand, it can boost property values, benefiting sellers and l. ...
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