August 16th, 2019 3:57 AM by Eric Willner
Radio Show Notes 8/14/19 Wednesday- Midweek Report: The Trend Is Your Friend in Real Estate And Here Are The Stats
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By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate
This week as we continue to follow the theme “The Trend Is Your Friend in Real Estate”. Today we will break down and explain the numbers and statistics in today’s market to help you make better decisions about your real estate, existing or future acquisitions.
The Trend Is Your Friend in Real Estate, and this is a recap of last week’s numbers, and right below them, is a recent article by The National Association of Realtors. The numbers further support our comments since the beginning of the week where we started our theme, “The Trend Is Your Friend in Real Estate”.
- First-time home buyers were 35%, an increase from 31% last month.
- All cash sales was 16%, down from 22% last month.
- Distressed Sales were 2%, a decrease from 3% last month
- Sales overall were also down 1.7% from last month, 2.2% from last year
- US Median Home Price, at an all-time high of $285,700
- Listings stand at 1.92Million, a 4.3% increase
- Average Days on the market is 27
Metro Home Prices Trend UP in 91% of Metro Areas in Second Quarter of 2019
WASHINGTON (August 7, 2019) – Most metro areas saw price gains under marginal inventory growth in the second quarter of 2019, according to the latest quarterly report by the National Association of Realtors®. Single-family median home prices increased year-over-year in 91% of measured markets in the second quarter, with 162 of 178 metropolitan statistical areas1 showing sales price gains. That is up from the 86% share in the first quarter of 2019. The national median existing single-family home price in the second quarter was $279,600, up 4.3% from the second quarter of 2018 ($268,000). Remember, The Trend Is Your Friend in Real Estate, so follow it.
The metro areas where single-family median home prices declined included the high-cost areas of San Jose-Sunnyvale-Santa Clara, Calif., (-5.3%), San Francisco-Oakland-Hayward, Calif., (-1.9%) and Urban Honolulu, Hawaii (-1.2%). Ten metro areas experienced double-digit increases, including the moderate-cost metro areas of Boise City-Nampa, Idaho; Abilene, Texas; Columbia, Mo.; Burlington-South Burlington, Vt. and Atlantic City-Hammonton, N.J.
Lawrence Yun, NAR chief economist, said home builders must bring more homes to the market. “New home construction is greatly needed, however home construction fell in the first half of the year,” he said. “This leads to continuing tight inventory conditions, especially at more affordable price points. Home prices are mildly reaccelerating as a result.” The Trend Is Your Friend in Real Estate, so follow it.
Ninety-three out of 178 metro markets under study have price growth of 5% or better. “Housing unaffordability will hinder sales irrespective of the local job market conditions,” Yun said. “This is evident in the very expensive markets as home prices are either topping off or slightly falling.” Again, The Trend Is Your Friend in Real Estate, so follow it.
Listen to the show in its entirety for all the information.
Want more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 8 o’clock (EST) on Florida’s Money Talk Radio station WSBR AM740, FM 96.9, and FM 103.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.
Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.
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