World Markets, Breaking Even and a Zombie AgentFebruary 7, 2017
Redefy housing news 2.6.2017
This week in housing news you can use, the US beats the world in home affordability, breaking even takes longer is some areas, some markets stay hot in the winter and real estate agent becomes a zombie.
When will you break even in 2017?
According to the latest Zillow Breakeven Horizon report, appreciation will slow in some of the nation’s most expensive housing markets this year. The report measures how long you need to be in a house for the cost of renting to exceed the cost of buying. On a national scale, it takes the average homeowner just under two years to break even. But in expensive markets such as San Francisco, expect to wait a bit longer – up to two years. Hover over a region to see its time frame.
Survey says: US most affordable in housing
The 13th annual Demographia International Housing Survey of nine major countries, taken Q3 2016, ranks the US as the most affordable nation. The survey included 406 metropolitan markets; the most affordable areas have a rating of 3.0 and below, with the most expensive at 5.1 and above. All 11 of the most affordable markets were found in the US.
Reality catches up to real estate market
According to the National Association of REALTORS® (NAR), existing home prices in December were the highest since 2006. But December also showed a 2.8 percent decrease (seasonally adjusted annual rate of 5.49 million). What does that mean?
Home prices are beginning to return to more realistic numbers. “After beating expectations in September, October and November, reality finally caught up with existing homes sales in December,” Said Zillow’s Chief Economist Svenja Gudell in a reaction statement to NAR’s latest numbers.
Some markets still hot in winter
Realtor.com says that 20 cities were still piping hot in January 2017, despite a typically slow winter market.
This real estate agent becomes a zombie
Once again, real estate agents get some attention in Hollywood. But maybe not the kind they want. In Netflix’ new dark comedy series Santa Clarita Diet, Drew Barrymore plays a wife, mom and real estate agent who discovers she’s become a zombie. Her goal is not to eat her family… not sure if she’ll extend that courtesy to her clients. Watch if you dare!
You watched that trailer, didn’t you? Ewww. Not to worry, Redefy agents are all humans who care about providing expertise and excellent service.
As a full-service brokerage, Redefy serves buyers and sellers. Our flat fee listings saves sellers thousands for more important things — like a wide-screen TV for all your favorite Zombie shows.