What were the top 5 events last week that could affect your real estate investment business?
Every Monday you can get a quick snapshot of what’s happening in the real estate economy.
View my Monday Housing Market Column on BiggerPockets.
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1-888-354-6837Housing Market Summary – Week Ending June 19th
June 21st, 2010 by Ryan Hinricher | Bigger Pockets Housing Column, Housing Market13 Housing Markets That Will Never Recover
June 21st, 2010 by Ryan Hinricher | Housing Market, ListsThe headline is pretty tough. Too tough for most of these cities. The article basically viewed markets with significant price drops, still dropping, coupled with sky-unemployment.
While the word “never” is probably too harsh (never say never), some of these cities have a poor long-term economic outlook.
Make your own judgement: The 13 Housing Markets That Will Never Recover
21 Most Improved Housing Markets
June 19th, 2010 by Ryan Hinricher | Housing MarketBloomberg used CoreLogic’s recent data to compile a slide deck of the 21 Most Improved Housing Markets.
The usual suspects are at the bottom meaning cities like Miami, Phoenix, and Las Vegas, but the ones at the top might surprise you.
View the 21 Most Improved Housing Markets
- Ryan Hinricher, Housing Analyst
Pending Home Sales Index Reflects Tax Credit Surge and Confidence
June 6th, 2010 by Ryan Hinricher | Housing MarketOn June 2nd, the National Association of Realtors released its April Pending Home Sales Index. The numbers showed buyer confidence coming back into the market as many expected the extension of the tax credit to have a limited impact.
The South is the only region significantly outperforming the October data although the rest of the nation (excluding the West) is near par. Although this data is adjusted seasonally, to me it reveals confidence is coming back into the market. Many people most certainly bought when they thought it was originally going to expire leading me to believe “pent-up demand” is adding to the numbers over the last 60 days.
Look for the Pending Home Sales Index to drop sharply for May’s numbers but by the time June and July are released, we should get a good idea of the direction the market is heading. I suspect, based on heavy recent interest, investor-buyers are going to step in.
Current Supply of Homes vs. Normal
June 1st, 2010 by Ryan Hinricher | Charts, Housing MarketAfter looking at the most recent existing home sales from the National Association of Realtors, I noticed they said the supply had jumped by about 400,000 homes in April over March. This lead to my curiosity of exactly where we are in relation to what’s considered a “normal” supply of real estate inventory.
Here’s what I came up with:
As you can see, inventories are on the rise. In fact, current inventory is 40% higher then what’s considered normal and this excludes the shadow inventory (homes 90-days delinquent or worse, not yet on the market).
This data reinforces the idea that we are at or near the bottom yet we’ll be here for a while. Plan your buying strategy around a methodical and consistent approach to purchasing right now, much like dollar-cost-averaging in the stock market.
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