Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

According to the National Association of Home Builders most recent Housing Market Index which measures builder confidence released  This Week in Real Estate , 2019 ends with the highest reading since June of 1999.   Below  are a few highlights from the  third  week of  December  that influence our business: *  Guess What? Spring Homebuying Season Now Starts in January .   According to Realtor.com, homebuyers have started their home search earlier and earlier over the last several years. As Realtor.com notes, historically, April was considered to be the start of homebuying season.   But in many larger markets, January is actually the start of prime homebuying season.   “As shoppers modify their strategies for navigating a housing market that has become more competitive due to rising prices and low inventory, the search for a home is beginning earlier and earlier,” said Realtor.com Senior Economist George Ratiu. “With housing inventory across the U.S. expected to reach record lo

Realtor.com reports the median age of U.S. homebuyers is now 47; an increase of 8 years in the last decade. While data shows that younger generations are waiting longer to buy their first home, according to TransUnion  This Week in Real Estate,  at least 8.3 million first-time home buyers will enter the mortgage market between 2020 and 2022.  Below  are a few highlights from the  first  week of  December  that influence our business: *  Peering Into The Housing and Mortgage Outlook With 20/20 Vision .   The housing market benefitted during 2019 from mortgage and unemployment rates both below 4%, the first time this has happened in the post-World War II era. In 2020 we expect more of the same: while economic growth will likely be slower than during 2019, it will be sufficient to continue sub-4 readings for mortgage and unemployment rates. This economic environment should add to first-time buyers’ desire to own. But with supply expected to remain lean, especially for lower-pri

Some are reporting that there is trepidation regarding the real estate market in the United States. Apparently, the American people are quite comfortable. Porch.com , a major network helping homeowners with their renovation projects, recently conducted a survey which asked Americans: “What do you believe is the safest investment over the next 10 years?” U.S. housing came in at number one, beating out other investments such as gold, stocks, bonds, and savings. Here is a graph showing the top five investments Americans selected: The findings of the Porch.com survey also coincide with two previous surveys done earlier this year: The Federal Reserve Bank ’s 2019 Consumer Expectations Housing Survey reported that 65% of Americans believe homeownership is a good financial investment, and that the percentage has increased in each of the last four years. The Gallup survey showed that Americans have picked real estate as the “best” investment for six straight years. B