Hard To Explain Especially With Rates Stabilized

Today’s News Synopsis:

Drop in home sales has real estate agents baffled.  These existing-home sales decreased 6.4% in December.  It may not be a good idea for first-time homebuyers to rush into the market to buy this year.

In The News:

National Association of Realtors“Existing-Home Sales See 6.4 Percent Drop in December” (1-22-2019)

“After two consecutive months of increases, existing-home sales declined in the month of December, according to the National Association of Realtors®. None of the four major U.S. regions saw a gain in sales activity last month.”

CNBC “The unusually large drop in home sales has real estate agents baffled” (1-22-2019)

“Real estate brokers are trying to figure out why sales of existing homes plunged in December.”

ThinkRealty “Surprising Cities Land on Most Competitive Real Estate Markets Lists” (1-22-2019)

“Though prices are cooling across the United States, there are still many metros that are extremely competitive for buyers, according to a recent analysis by LendingTree.”

Forbes – “Why A Buyers’ Market Could Be Good For Sellers Too” (1-22-2019)

“In my experience, even the smartest sellers become overly concerned with the price for which they sell their property when planning to purchase another.”

Realtor.com – “Far From a Boring Barn, These 9 Texas Barndominiums Offer Stylish Digs” (1-222019)

“In the last few years, savvy homeowners have developed innovative ways to make prefabricated metal buildings comfortable enough to settle down into for life.

Inman – “Can’t knock the hustle: How to start a lucrative side business in real estate” (1-22-2019)

“Real estate is an entrepreneurial business, but successfully building a side hustle — and maybe turning it into a main gig — requires careful planning.”

Apartment Therapy – “I Was Able to Buy a Home Because: I Kept My Living Costs Low for Years” (1-22-2019)

“According to a 2015 Urban Institute report, delayed marriage and student loan debt are the biggest factors holding millennials back from buying homes.”

The Globe and Mail – “Why first-time home buyers should take their time and not rush into the market in 2019” (1-22-2019)

“The weakening trend in house prices has done next to nothing to help affordability in the country’s most expensive markets.  A 2019 homeownership strategy for those who want to buy in these cities, but can’t afford it: Keep building your down payment to reduce the amount you borrow.”

 

California Real Estate Investor Events

Bruce Norris will be presenting his newest market timing report California Real Estate: On Borrowed Time on Saturday, January 26.

Aaron Norris will be presenting Technology Trends and Effects on Real Estate with the South Orange County Real Estate Investment Club on Wednesday, January 30.

Aaron Norris will be presenting Technology Trends and Effects on Real Estate at IVAR on Wednesday, February 6.

 

Looking Back:

30% of all new jobs added in the I.E. were real estate related.  Drones were changing the way one could sell real estate through them being able to take aerial views of the properties for realtors to show.  Fannie Mae expected the latest tax reforms, if done correctly, to have a positive impact on the market and lead to growth.

 

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