Real Estate Market Trends

Median Down Payment Percentage Reaches 15-Year High

Submitted by Joseph Pettinella on September 19, 2018 - 10:44am

Real Estate Market Trends

The amount of money that buyers are paying up front on their mortgages is way up, but still might not be as high as you think. Although many people believe in the myth of the 20% down payment, the typical buyer actually puts down far less; in fact, even though the median down payment percentage reached a nearly 15-year high last quarter, it was still just 7.6% of the median sales price! Keep reading to learn more about the changing trends in home financing.

Home Prices Reached a New Record High in May

Submitted by Joseph Pettinella on June 26, 2018 - 9:39am

Real Estate Market Trends

Have home prices have seemed particularly high to you lately? Don't worry, you aren't imagining things. In fact, existing-home prices surged to a new record high in May, hitting a median of $264,800! As always, the culprit for these rising prices is a severe lack of inventory. If you were thinking of selling, this summer is the time to do it!

Sell in May or June for the Highest Price Premiums

Submitted by Joseph Pettinella on May 13, 2018 - 1:49pm

It's a question that's front and center in every home seller's mind: when should I sell? As I've shown before, timing market conditions is not easy and should not be your primary concern when answering this question. However, all else being equal, there are some strong indicators that certain specific times of the year are better when it comes to selling. In fact, you might want to get your home on the market as soon as possible, because a recent study showed that May was the month with the highest average premium on home sale prices!

Examining Subtle Factors in Home Value

Submitted by Joseph Pettinella on April 6, 2018 - 11:57am

Real Estate Market Trends

When determining a home's market value, there are major characteristics that rightly command most of the attention; things such as square footage, neighborhood, and the number of bedrooms are both obvious in importance and easy to quantify. However, there are an almost innumerable amount of more subtle factors that also come into play, a fact examined in a recent study by real estate analytics company HouseCanary. They sought to determine the effect of 5 "hidden" characteristics on a home's value. These details might not always receive an obvious, or even conscious, emphasis, but they are nevertheless connected to the market value of the home. In fact, significant correlations not only exist for things like frontage length and backyard slope, but they also show distinct regional trends.