US Housing Market Continues Move into ‘Buy Territory‘! According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question:
In today’s housing market, is it better to rent or buy a home?
The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.”
US Housing Market Continues Move into ‘Buy Territory’!
While most of the metropolitan markets examined moved further into buy territory (15 of the 23), markets like Dallas, Denver, and Houston are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times. Due to a lack of inventory, the home prices in the Dallas, Denver, and Houston, areas have increased by 13%, 11.4%, and 7.3% respectively. Home prices in these areas will begin to return to more normal levels once residents realize that renting is not the best option, therefore bringing home affordability back as well.
Bottom Line
The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially, as rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now. To Find Out More About the Study: The BH&J Index and other FAU real estate activities are sponsored by Investments Limited of Boca Raton. The BH&J Index is published quarterly and is available online at http://business.fau.edu/
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That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY!
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Many millennials who rent a home or apartment prior to buying their own homes. They dream of the day that they will be able to paint the walls whatever color they’d like. And, of course, renovate an outdated part of their living space.
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Your children have finally moved out and you and your spouse now live alone in a four-bedroom colonial (or a similar type of house). You have two choices to make:
Number of Buyers Putting Down Less Than 10% Hits 7-Year High
According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months.
Did You Know… 52% of Approved Loans Have A Credit Score Under 750?
The results of countless studies have shown that potential home buyers. Even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.
Study: For Sale By Owners Don’t Save Real Estate Commission
One of the main reasons why For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe they will save the commission an agent charges for getting their house on the market and selling it.
Why Is It Important To Use A REALTOR To sell Your Home?
When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.
California Homes Are Selling Quicker vs Nationwide Sales
Buyer demand is increasing as the inventory of homes available for sale remains low. If you are thinking about listing your home for sale this year, let’s meet up so I can help you take advantage of current market conditions!
Homeowner’s Net Worth Is Still Greater Than a Renter’s
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups
What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]
The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states.
Hey, Millennial Homeowners!! It May Be Time to Sell
Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S.