Real Estate Information Archive

Blog

Displaying blog entries 1-2 of 2

Feb 2016 RE/MAX National Market Update

by Elite Asset Management Team

 

DENVER – Pete Veres wants to share the following National report from RE/MAX. As the popular home buying season approaches, February sales saw a jump from both January and last February. The year-over-year change was 4.8% and the increase over January was 5.8%, which is in line with the 5.2% average seen in each month of February since 2009.  Over the last 12 months, the average year-over-year increase in home sales has been 5.8%, and only two months, November and October, experienced sales that were not above year-ago sales. The Median Sales Price of all homes sold in February was $198,000 or 5.9% higher than the price in February 2015. Price increases have moderated over several months, with month-over-month declines seen in 6 of the last 12 months. The inventory of homes for sale remains very tight in many markets across the country, with February seeing a level that is 13.3% lower than a year ago. At the rate of home sales in February, the national Month’s Supply of inventory was 4.0, down from 4.7 in February 2015. In the local Albuquerque market we are seeing similar trends, the median price of $178,000 is up 5.33% from 2015 and our Feb 2016 active listings are down 15% as our inventory is also shrinking. To see the Feb 2015 Albuquerque Market summary please click here: Feb 2016 ABQ Market summary.
So far in 2016, January and February have both seen home sales at a pace higher than one year ago, and last year was one of the best our industry has seen in quite some time. Consumers are benefiting from price increases that have been moderating, but many will still be dealing with an inventory lower than we’d like to see. Serious homebuyers who choose to work with an experienced agent will have a much easier time navigating this market,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. 
 
“A lack of inventory continues to affect home values, as eager buyers compete for a small selection of homes. Home prices continue their long march back from the big price drops experienced in the financial crash. As more and more Americans gain equity, this increases the number of homeowners who are financially able to sell their home and buy another one. We’re seeing the benefits of this virtuous cycle in rising home prices, which are also being greatly aided by historically low mortgage rates,” added Bob Walters, Quicken Loans, Chief Economist.

 

DENVER – Pete Veres wants to share the following National report from RE/MAX. As the popular home buying season approaches, February sales saw a jump from both January and last February. The year-over-year change was 4.8% and the increase over January was 5.8%, which is in line with the 5.2% average seen in each month of February since 2009.  Over the last 12 months, the average year-over-year increase in home sales has been 5.8%, and only two months, November and October, experienced sales that were not above year-ago sales. The Median Sales Price of all homes sold in February was $198,000 or 5.9% higher than the price in February 2015. Price increases have moderated over several months, with month-over-month declines seen in 6 of the last 12 months. The inventory of homes for sale remains very tight in many markets across the country, with February seeing a level that is 13.3% lower than a year ago. At the rate of home sales in February, the national Month’s Supply of inventory was 4.0, down from 4.7 in February 2015. In the local Albuquerque market we are seeing similar trends, the median price of $178,000 is up 5.33% from 2015 and our Feb 2016 active listings are down 15% as our inventory is also shrinking. To see the Feb 2015 Albuquerque Market summary please click here: Feb 2016 ABQ Market summary.


So far in 2016, January and February have both seen home sales at a pace higher than one year ago, and last year was one of the best our industry has seen in quite some time. Consumers are benefiting from price increases that have been moderating, but many will still be dealing with an inventory lower than we’d like to see. Serious homebuyers who choose to work with an experienced agent will have a much easier time navigating this market,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.  

“A lack of inventory continues to affect home values, as eager buyers compete for a small selection of homes. Home prices continue their long march back from the big price drops experienced in the financial crash. As more and more Americans gain equity, this increases the number of homeowners who are financially able to sell their home and buy another one. We’re seeing the benefits of this virtuous cycle in rising home prices, which are also being greatly aided by historically low mortgage rates,” added Bob Walters, Quicken Loans, Chief Economist. 

 


Housing Market A New Reality for U.S. Real Estate

by Elite Asset Management Team

 

Pete Veres, with RE/MAX Elite in Albuquerque, NM wants to share the following update. RE/MAX CEO on Bloomberg TV: A New Reality for U.S. Real Estate.  Dave Liniger, co-founder at Re/Max, talks with Brendan Greeley about the strength of the U.S. housing market, the appeal of home ownership to millennial, and the role of housing in the U.S. economy. He speaks on "Bloomberg Markets." (Source: Bloomberg)

Dave speaking about renting vs buying? In the local Albuquerque market we have a demand for rentals, rents are increasing and what that show us that there is an opportunity to invest in real estate. It is also a great time for renters to buy however many renters don’t realize that can qualify for loan and in most cases even for as low as $500.00 down. Please click here to find out how:www.abqrentfree.com Dave also talks about what millenials are doing. We are seeing millenials very active in the Albuquerque Area market. Interest rates are still at all-time lows and we are seeing inventory decreasing in the Albuquerque market. In fact, Pete Veres, Certified Residential Specialist and top RE/MAX Agent in Albuquerque quotes “ We are seeing inventory problems in specific areas and price ranges for one story homes”. Please let us know how we can help with your specific real estate requirements. Contact Pete Veres at 505-362-2005. You can also track homes for sale, homes sold and pending in your local area with our free market snapshot. Just visit this free resource at: www.abqmarketinfo.com Thank you.

Displaying blog entries 1-2 of 2

Syndication

Categories

Archives

Contact Information

Photo of Elite Asset Management  Real Estate
Elite Asset Management
RE/MAX Elite
8300 Carmel Ave. NE Ste. 201
Albuquerque NM 87122
(505)362-2005
Reviews on Zillow
4417042
"Professional and Knowledgeable about real estate in the area, patient with difficult customers like me and my wife (who occasionally wanted very ... more "
5.0/5.0
by rezaarghavani
4279664
"We interviewed the top 4 realtors in our zip code and Pete was at the top of the list. His presentation was professional and well thought out. ... more "
5.0/5.0
by chuck tabbert