January has been unseasonably active for homebuyers according to data from realtor.com.

January has been unseasonably active for homebuyers according to data from realtor.com.

Winter isn’t exactly your typical home buying season. Most folks are working on their homes, getting them ready to list in the spring. Buyers are scouting neighborhoods, ready to pounce when the market is saturated in March.

However, recent data from realtor.com shows that demand during the month of January remained strong, while low supply has kept prices high.

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Steve Brown has a snippet on his Biz Beat Blog the other day, saying the brakes are about to be slammed on DFW’s runaway home prices.  This will happen next year.

Which is like in 3 weeks.

A friend in Phoenix is an appraiser, and lived through the mess that the Phoenix/Scottsdale market became during the downturn: it was a really rough ride. He tells me that DFW is regarded as one of the most over-valued, if not THEE MOST over-valued, markets in the nation. Dallas-area home prices are up almost 10% from 2014 levels, and CoreLogic, Inc. says we lead the pack on home price gains. We have not just re-gained the trickle that was lost during the Great recession, we have surpassed it.

So that means, if you sell your home before 2016 hits, you will have timed this market perfectly. At least according to Jonathan Smoke and the folks at Realtor.com, who say we will be cooling our horses in the price gains department: (more…)

NAREE-MIAMI-1-2

Candy is in Miami right now, wading through all of the amazing real estate news at the National Association of Real Estate Editors’ annual conference. While we are a little jealous (OK, we are A LOT jealous) of her temporary location and proximity to so many brilliant minds at #NAREE15, we did score this bit of news from Realtor.com’s chief economist, Jonathan Smoke, who was on the “Mortgage Availability for Millennials and Other First-Time Buyers” panel:

“Despite the slow indicators we saw earlier this year, 2015 is on pace to be one of the best years for housing since 2006 due to strong sales and higher than predicted home prices,” said Smoke. “Additionally, we’re observing an uptick in millennial traffic and sentiment that we expect will result in more first-time home buyer sales in the later part of the year.”

This conclusion comes from a survey conducted by Realtor.com, showing a slight increase in Millennials ages 25-34 visiting the website with the goal of buying a home.

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