Housing Market Updates | The Paradigm Realty Group

Days on The Market Drops to New Low in April

For Sellers, Housing Market Updates, Move-Up Buyers / Ajeenah Crittendon

$\"Days$ According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month. NAR’s Chief Economist, Lawrence Yun, had this to say, “What is available for sale is […]

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Did Tax Reform Kill the Luxury Market? NOT SO FAR!

For Buyers, Housing Market Updates, Move-Up Buyers, Pricing / Ajeenah Crittendon

$\"Did$ The new tax code limits the deduction of state and local property taxes, as well as income or sales taxes, to a total of $10,000. When the tax reform legislation was put into law at the beginning of the year, some experts felt that it could have a negative impact on the luxury housing market. […]

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Why Have Interest Rates Jumped to a 7-Year High?

First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers / Ajeenah Crittendon

$\"Why$ Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The current pace of acceleration has been fueled by many factors. Sam Khater, Freddie Mac’s Chief Economist, had this to say: “Healthy consumer […]

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Don’t Wait to Sell Your House! Buyers Are Out Now

For Sellers, Housing Market Updates, Move-Up Buyers / Ajeenah Crittendon

$\"Don’t$ Recently released data from the National Association of Realtors (NAR) suggests that a now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high. Let’s see […]

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Renters Under 50 Want to Buy a Home!

First Time Home Buyers, For Buyers, Housing Market Updates, Millennials, Rent vs. Buy / Ajeenah Crittendon

$\"Renters$ Every year, the New York Federal Reserve publishes the results of their Survey of Consumer Expectations (SCE). Each survey covers a wide range of topics including inflation, labor market, household finance, credit access and housing. One of the many questions asked in the housing section of the survey was: Assuming you had the financial resources […]

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Homeownership: “A Man Is Not a Complete Man, Unless He Owns a House”

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy / Ajeenah Crittendon

$\'Homeownership:$ The famous quote by Walt Whitman, “A man is not a whole and complete man, unless he owns a house and the ground it stands on,” can be used to describe homeownership in America today. The Census revealed that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. […]

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5 Ways Tax Reform Has Impacted the 2018 Housing Market

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers / Ajeenah Crittendon

$\"5$ Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream. Now […]

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4 Reasons Why Today’s Housing Market is NOT 2006 All Over Again

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing / Ajeenah Crittendon

$\"4$ With home prices rising again this year, some are concerned that we may be repeating the 2006 housing bubble that caused families so much pain when it collapsed. Today’s market is quite different than the bubble market of twelve years ago. There are four key metrics that explain why: Home Prices Mortgage Standards Mortgage Debt […]

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How Much Has Your Home Increased in Value Over the Last Year?

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers / Ajeenah Crittendon

$\"How$ Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.7% year-over-year. CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median […]

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Why Home Prices Are Increasing

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing / Ajeenah Crittendon

$\"Why$ There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak […]

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