According to the US Census Bureau, the home ownership rate is on the decline in the US, and their most recent report showed that the current rate of 65.9% is the lowest recorded since 1998. The fact that the home ownership rate is dropping should come as no surprise, as nearly 70% of Americans owned [...]
US Housing Market
Every month I like to read the National Association of REALTORS® Existing Home Sales Report to see how Lawrence Yun is going to positively interpret the data being reported from all the US housing markets. Last month he blamed the weather, this month apparently the problems were due to contract cancellations. Regardless, he is still [...]
Forest Heights is heating up, and possibly might become the renegade neighborhood in Tallahassee. Though it has declined in value like the rest of the real estate market, Forest Heights is going to be attracting both real estate investors and owner-occupants alike. With homes built in the 1950s, 1960s, and 1970s, Forest Heights is a [...]
I just finished reading the most recent Existing Home Sales Report by Dr. Yun (chief spin-master for the National Association Of REALTORS®) and was not surprised to see the normal bending and twisting of the housing data to form a “why things are improving” article on real estate. But I was surprised at his conclusion [...]
As we have anticipated from our previous reports on the real estate market, home sales continue to slide during the hot summer months in Tallahassee. With so many of the would-be homebuyers not able to first sell their current homes, the number of buyers in the market continues to decline. The first graph shows closed [...]
Are you under water in your house? You might be surprised at just how many homes in Tallahassee have larger debt loads than their value. This topic came up in a comment made by a reader last week, so I thought it was worth further exploration. When we say that a house is under water, [...]
The State of the Nation’s Housing 2011 was prepared by the Joint Center for Housing Studies of Harvard University, and this is the third year that I have provided a copy of the report for download, as well as an overview of what our reader’s can expect in the report. As with previous years, this [...]
Holy cow, I have to agree with Lawrence Yun on quite a few points that he made during the release of the monthly Existing Home Sales Report last week. Dr. Yun, the chief economist for the National Association of REALTORS® explained that existing home sales in March were down compared to March of last year, [...]
