Through the first half of 2018, existing-home sales are down just a tad, by 2.2%, while new home sales are up 7.4%. Home prices continue to move higher by 5%.
Foreign buyers 266,800 U.S. existing homes during April 2017‒March 2018. Florida was the top destination, accounting for 19 percent of foreign buyer purchases.
The median days on market have been broadly on a downtrend since May 2011 when properties were typically on the market for three months.
Chinese buyers remained as the top foreign buyer of U.S. residential property, according to NAR’s recently released 2018 Profile of International Activity in U.S. Residential Real Estate.
Foreign buyers purchased $121.0 billion of existing homes from April 2017—March 2018, a 21 percent decline from the past period’s level.
Housing affordability across the United States declined in June compared to a year earlier. The main reason for the decline is that housing inventory remains very low, causing affordability to weaken in most areas of the country.
Eighty-seven percent of survey respondents reported that home prices remained constant or rose in June 2018 compared to levels one year ago (89 percent in June 2017).
Mortgage rates rose to 4.71 percent this May, up 17.5 percent compared to 4.01 percent a year ago.
Forty-three percent of people who sell without a real estate agent think that if they sell themselves, they’ll end up doing a little extra work in exchange for not paying a commission or closing fee. Research shows that what they actually get is a lot of time spent hustling to make the sale and a final selling price that is less than what the market can bear.
Seventy-six percent of contracts are being settled on time, according to a survey of REALTORS® in the May 2018 REALTORS® Confidence Index Survey.
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