Displaying blog entries 141-150 of 242
A few days ago I posted on Smartasset.com's Top Boomtowns from 2015.
Published in Nov, 2015, Smartasset released their top 25 list of the Safest Cities in America, Texas gracing 11 of the top 25 posts!
Our very own, Frisco TX makes the list at #10!
- Christie Cannon - Keller Williams Frisco
Realtor.com & the National Association of REALTORs just posted their predictions for the top 5 industry trends in 2016.
In the words of Skywalker, "it will bring balance to the force." While sales will continue strong, most markets will see a return to the more modest gains that are reflected in a balanced (& more sustainable) market.
The National Association of REALTOR has recently published their latest report on existing homes sales for November (likewise, they revised their October numbers). The most recent report Existing Home Sales offers that preowned home sales:
“…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…” The report reflects that November was the slowest in 19th months for existing home sales. This was displayed in a 10.5% decrease in month-over-month sales.
While there are still many hypotheses for the reasons of the drop, many industry insiders are placing a large portion of the blame on real estate’s adjustment to the latest changes in mortgage lending laws. With these adjustments, the industry has seen an overall increase in the amount of time it takes to close a traditional loan.
The numbers may seem miniscule on paper, the three day average increase reflects a whopping 15.7% of available banking days in November. Traditionally, most homes close in the last 3-days of the month, as such even a 2-3 day average increase “pushes” closings into the following month.
When we compare both written contract volume & anecdotal experience from the industry, most indications are that the sales are not lost. December reporting will be critical to see if the decrease was simply due to delay, or if November's numbers are a foreshadowing of a deeper market shift.
Christie Cannon - Keller Williams Frisco TX
In the latest Existing Home Sale Report from the NAR (National Association of REALTORs), the NAR is reporting that less than 6% of the national market represents distressed sales. This is a sharp decrease from 2014 reporting at 9%. At their most recent peak, distressed property sales represented a full 35% of all national real estate sales. 6% represents the lowest figure since 2008, when the NAR began tracking this metric.
Existing Home Sales continue steady, with year-over-year sales up 3.9%. Likewise, inventory remains low at approximately 4.8-months supply, versus a balanced market at 6-months. The national median home price has seen an increase of 5.9% to $219,000. It is important to consider, that the sharp increase in median price, at least for many markets, represents a regaining of previously lost sale prices.
Niche.com just published their 2015 List of Best Suburbs in TX to Purchase a Home!
Once again Denton & Collin Counties dominate the top 10 list with 8 spots!
While single-family housing continues to "rule the roost" in Frisco & North TX, we face an invasion of exciting mixed use & upscale "urban living" projects. As our city sees the $5 Billion Mile, and projects like the Frisco Market Center, continue to develop, I am increasingly delighted with the new choices in housing. The diversity of these new developments fills a void that has long been lacking in our market!
To help introduce you to some of these latest project, please peruse the links below!
In Frisco – Here
Frisco Station (Hillwood partnership project) – more here
The Gate in Frisco – More Here & Here
In Plano
Legacy West (same people did Shops on Legacy) – more here
There are some amazing projects in the works! Have Questions? Please feel free to give me a call - Christie Cannon
Displaying blog entries 141-150 of 242
