Norway’s Real Estate Agents Join Calls for Higher RatesTrying to prevent a property bubble from burstingPosted: September 04, 2012 at 10:38 AM by John McClellandThis is an interesting article from Bloomberg. Home prices have been on a tear in Norway and many do not want to see a replication of other bubble markets like Japan, U.S, Ireland and Spain. http://www.businessweek.com/news/2012-09-03/norway-s-real-estate-agents-join-calls-for-higher-rates However, the caveat is how one can produce a "soft landing." Most of the time bubble are not deflated little by little, but with a crash. read more |
A look at the reported price increasesMedian Price, Case-ShillerPosted: July 03, 2012 at 9:51 AM by John McClellandHome prices due appear to be on a pretty abrubt increase. Constrained supply, combined with continued demand from investors and owner occupants is leading to higher bids.We are beginning to see these same trends manifest in the Case-Shiller indices in the levels, first and second derivatives, as seen below.So we know that in general, prices are on the increase. What we don't know is how sustainable they are if more supply is placed on the market. Recently, new listings have been nearly equivel read more |
Inventory UpdateInventory levels hit new lowsPosted: July 02, 2012 at 11:45 AM by John McClellandThe supply situation continues to go unresolved. New listings are nearly matched by closings and inventory continues to decline. As a result, buyers and their agents are working extremely hard to match properties. For sellers, this could be a good time to list their home, since competition in many neighborhoods is sparce. Further, we are observing firming prices in many areas, but we do not know how long this will be sustained since we need to move past the peak selling season in order to observe if prices read more |
Inventory Continues to Decline, Sale Prices are on the IncreaseRecent price pressures have yet to manifest in Case-Shiller NumbersPosted: May 29, 2012 at 2:15 PM by John McClellandToday Standard & Poor's released the Case-Shiller home price index numbers. Recall that these tabulations end March 2012, a substantial lag. As I write this, there are just over 4,000 single family homes on the market that you can go buy today. That is just over one month of supply and is not being replenished quick enough. Further, when you slice up the inventory to what you might actually be targeting, homebuying this summer became much more challenging. We have a price per-square-foot index for t read more |
Inventory UpdatePosted: May 07, 2012 at 1:30 PM by John McClellandAs we continue further into the seasonally strong selling season for residential real estate, many buyers are encountering a limited supply of homes, competition through multiple offers (many cash) and a muted level of new product entering the market. This is not only occuring in Las Vegas but is a condition known in other locals as well.Buyers are reacting to both affordability and investment returns on rental properties so you have two large buyer types directed at the same property types and price ra read more |
