• R&S Premier Homes Blog

    Friday, August 11, 2023   /   by Steve Halen

    About 11,000 Houses Will Sell Today

    Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you may believe, buyers are still active and plenty of homes are selling right now.

    According to the National Association of Realtors (NAR), based on the pace of sales right now, just over 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:

    4.16 million homes divided by 365 days in a year = 11,397 houses sell each day

    11,397 divided by 24 hours in a day = 475 houses sell per hour

    475 divided by 60 minutes in an hour = about 8 houses sell each minute

    So, on average, about 11,000 homes sell each day in this country.

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    Tuesday, July 25, 2023   /   by Steve Halen

    Don’t Fall for the Next Shocking Headlines About Home Prices

    If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices? And it’s no surprise you don’t have the clarity you need on that topic. Part of the issue is how headlines are talking about prices.
    They’re basing their negative news by comparing current stats to the last few years. But you can’t compare this year to the ‘unicorn’ years (when home prices reached record highs that were unsustainable). And as prices begin to normalize now, they’re talking about it like it’s a bad thing and making people fear what’s next. But the worst home price declines are already behind us. What we’re starting to see now is the return to more normal home price appreciation.
    To help make home price trends easier to understand, let’s focus on what’s typical for the market an. ...

    Tuesday, July 25, 2023   /   by Steve Halen

    Foreclosure Numbers Today Aren’t Like 2008

    If you've been keeping up with the news lately, you've probably come across headlines talking about the increase in foreclosures in today’s housing market. This may have left you with some uncertainty, especially if you're considering buying a home. It’s important to understand the context of these reports to know the truth about what’s happening today.
    According to a recent report from ATTOM, a property data provider, foreclosure filings are up 2% compared to the previous quarter and 8% since one year ago. While media headlines are drawing attention to this increase, reporting on just the number could actually generate worry for fear that prices could crash. The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed.
    Let’s look at the latest information with context so we can see how this compares to previous years.
    It Isn’t the Dramatic Increase Headlines Would Have You Believe
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    Tuesday, July 25, 2023   /   by Steve Halen

    Owning Your Home Helps You Build Wealth

    You may have heard some people say it’s better to rent than buy a home right now. But, even today, there are lots of good reasons to become a homeowner. One of them is that owning a home is typically viewed as a good long-term investment that helps your net worth grow over time.

    Homeownership Builds Wealth Regardless of Income Level

    You may be surprised to learn homeowners across various income levels have a much higher net worth than renters who make the same amount. Data from First American helps illustrate this point (see graph below):

    What makes wealth so much higher for homeowners? A recent article from Realtor.com says:

    “Homeownership has long been tied to building wealth—and for good reason. Instead of throwing rent money out the window each month, owning a home allows you to build home equity. And over time, equity can turn your mortgage debt into a sizeable asset.”

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