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 nformation is brought to you by

Paul Frink
Berkshire Hathaway HomeServices Northwest Real Estate

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24 Hours That Suddenly Improved The Market

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This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months in a row. To many, the outlook heading into 2019 appeared dim… at best. Then, in a 24-hour window last week, things seemed to change. On Wednesday, the  National Association of Realtors’  (NAR) revealed in their   Existing Homes Sales Report  that home sales had  INCREASED  for the second consecutive month. The next day, NAR’s economic research team  announced  that the percentage of first-time buyers in the market was higher than last month and even higher than a year ago. What happened to turn around the downward momentum in the market?  You only needed to wait a few hours to find out. On the heels of NAR’s revelations,  Zillow  released their  November Real Estate Market ...
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Top 3 Myths About Today’s Real Estate Market

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There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a mortgage. Today, we want to try and clear the air by shedding some light on what’s causing some of these headlines, as well as what’s truly going on. Myth #1: We Are Headed for Another Housing Bubble Home prices have appreciated year-over-year for the last  76 straight months . Many areas of the country are at or near their peak prices achieved before the last housing bubble burst. This has many worried that we are headed towards another housing bubble. Reality:  The biggest challenge facing today’s real estate market is a  lack of homes for sale!  Demand is strong, as many renters have come off the fence and are searching for their dream homes. Histo...
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