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Market Reports

Performance of local real estate in terms of supply, demand, and absorption. Determing how our clients can leverage the local market to make informed decisions in the marketplace.

Found 14 blog entries about Market Reports.


Written by Robert H. Ruth

“OK, Mr. Peabody…but what happened in 2007, and why is it important that we go back there now?”

“Well Sherman, 2007 was a pivotal year for the United States Housing Economy, a year in which all hell broke loose due to the impact of grossly overvalued Real Estate which had been driven to unsustainable levels by Subprime Mortgage Loans.”

“What are Subprime Mortgage Loans Mr. Peabody?”

“Not so fast Sherman…first let’s talk about how values in Real Estate have changed on a historical basis.

You see, historically, US home values have increased by an average of 2 ½-3 % yearly, but during the period from 2003-2006 values went up by 20-30% per year.”

“That sounds like a lot of appreciation, Mr. Peabody.”

“You

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Written by Robert H. Ruth

Last week I reported on 4 of the 5 components that I believe are key drivers of  the Housing Economy in the United States, and I compared these components from 2007-2010. My analysis determined that there have been some interesting developments in these components over 10 years.  Specifically,

  • The Dow Jones Industrial Average has increased dramatically, which has restored the wealth effect for our economy, a phenomenon that makes more Americans believe they are financially more secure and willing to invest, either in the stock market, or in Real Estate.
  • The Employment Rate in the US has improved to pre-financial crisis levels, and our country is once again near what is statistically known as full employment.
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Written by Robert H. Ruth

The financial burden faced by the millennial generation is simply staggering.  Here are a few statistics that portray the breadth of the problem, which is now the second highest consumer debt category behind only mortgage indebtedness, and higher than both credit cards and auto loans:

  • 44.2 Million Americans have student loan debt, or 7 out of every 10 college graduates
  • The average indebtedness of the Class of 2016 was $37,172
  • More than 42 million people have student loan debt of  $100,000 or less
  • Over 2 million borrowers had student loan debt greater than $100,000, with 20% of that total (415,000 people) have student loan debt greater than $200,000
  • The largest concentration of student loan debt is
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Written by Robert H. Ruth

Remember the movie the Karate Kid? The young man’s instructor, Mr. Miyagi, teaches Daniel discipline with his phrase “wax on, wax off.” To paraphrase that, in the financial markets, there is a phrase that is popular called: “ Risk On, Risk Off ”, and that phrase is a good way to think about how financial market movements impact rates. Let me explain:

Risk On:

  • The stock market moves constantly; it ebbs and flows
  • When the stock market moves up, it means that people or institutions are actively buying stocks, and the volume is driving the price of stocks upwards.This has been happening in dramatic fashion since the election in November. The financial markets like the message that President Trump is sending
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Written by Robert H. Ruth

Last week I discussed the impact rising interest rates have on mortgage affordability. As the chart in my article showed, as rates rise, the amount of mortgage that borrowers can obtain with the same payment goes down. Makes sense…as rates drop you can buy more with the same payment and as rates rise the amount you can buy goes down.

But my analysis seemed incomplete; I wanted to dig deeper into this topic and examine the impact interest rate fluctuations have had on mortgage affordability over time. I wanted to give you a greater view of this going back over the last 5 decades.  Here then is a chart of the average 30 Year Fixed Mortgage interest rate by decade starting in the 1970’s to now. The chart

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Written by Robert H. Ruth

 For the last 6 years, Americans have had an unprecedented opportunity to finance the purchase or refinance of a home with the lowest mortgage interest rates in history. These low rates allowed them not only to save money on their monthly housing expense, but the low rates had a hidden benefit: the lower rates allowed buyers the opportunity to buy more house.  As rates dropped, home affordability increased.

However, since the election in November, rates have begun to rise.  On election night the average rate on a 30 year fixed rate mortgage was $3.50%. Today, December 12, the average rate on a 30 year fixed rate mortgage stands at 4.125%, an increase just under ¾ of a percent.  It is unclear whether

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winter_house_in_the_snow-covered_garden_044061__400

Mother Nature served up more than just inclement weather during the 2014-2015 Winter season.  As the snow piled up throughout New England we were given insight into a real estate market that would have otherwise been impossible to perceive.  

Reports regarding the absorption of foreclosures and REO’s have been fairly consistent. The inventory is being purchased which in turn is driving supply down as well as months of inventory.  Our economy is feeling a bit healthier and we expect interest rates to rise by the 4th quarter as a reflection.

But WAIT….the latest snow storms showed us that MANY homes are still VACANT & BANK OWNED.  With driveways blocked and paths un-shoveled we were able to get a true glimpse of the housing market.   No one is

2,156 Views, 0 Comments

Despite our typical beliefs, now is the time to place your property on the market. Consumer confidence is as high as we have seen in the past decade due to low interest rates and historically low gas prices. 

The abnormally high number of sales in the lower price ranges will be having a ripple effect throughout higher price ranges in the  months to come. 

View our latest video on this topic below or https://youtu.be/DSE3NZLBmQw

 

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Zillow acquires Trulia in what could end up the biggest real estate deal ever. Not because of the 3.5 billion in stock price tag though, more has to do with the fact that Zillow now owns over 60% of the online real estate consumer traffic when you add it all up. We already know roughly 95% of buyers start their search online, so when you take that into account when talking about the 60+% what does this mean for the Realtor and buyer/seller relationship?

The real estate consumer in today’s market uses Zillow as their sole source for real estate searches, or something very similar like Trulia or Street Easy in Manhattan; both of which Zillow know owns by the way. Zillow has become the consumer’s MLS. People trust in the listings and trust many times in

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Waterfront Property Experts is the one place you can come every Friday and get in touch with waterfront real estate expert Tim Bray of Seaport Real Estate Group at William Pitt Sotheby's International Realty. Tim will bring the public free and valuable information about the market and what is happening with shoreline homes up and down the coast.

Episode 1 covers the effect of Super Storm Sandy on the waterfront residential home market.

 

Connect with Real Estate Expert Tim Bray:

tbray@seaportre.com

860-912-7137

 Facebook: https://www.facebook.com/SeaportRealE...

https://www.seaportre.com/

 

8,595 Views, 1 Comment