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CoreLogic predicted that California Home Prices will continue to appreciate at a rapid pace. It will remain one of the hottest markets in the country with an appreciation rate of >6% in the next 12 months. The news will be equally good across the nation where home prices are expected to increase by 5.3%. With buyers demand outpacing supply and pending home sales reaching new high, it promises to be another scorching hot home buying season.

The National Association of Realtors (NAR) released their monthly numbers on total existing-home sales for March recently. The result? Once again - for the 49th consecutive month - the data was strong and shows year-to-year gains from 2015. Existing home sales are defined as closed transactions that include single-family homes, townhomes and condos. They generally account for 90 percent of the overall housing market. The March numbers continue to show the strength of the housing market in nearly every market nationwide. Nationally, the numbers hopped up 5.1 percent to a seasonally adjusted annual…

In school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise. SUPPLY The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 4.4-month supply. This is considerably lower than the 6-month inventory necessary for a normal market. DEMAND Every month NAR reports on the amount of buyers that are actually out in the market looking for homes, or foot traffic. As seen in the graph below, buyer demand in February significantly outpaced the…

2015 was an eventful year in the housing market. Plagued by lack of inventory, housing markets did what they could to keep up with the demand as rates defied prognosticators and stayed near historically lows throughout the year. Rents increased far beyond normal, stretching affordability in the rental market. Those increase will force some decisions to be made in 2016 amongst non-committal millennials and boomerang buyers who were biding their time before re-entering the market. Get PreApproved for a Mortgage #1 - Expect a wave of Boomerang Buyers to return to ownership During the Great…

It was an eventful year in the housing market. Demographic shifts, inventory issues, skyrocketing rents, historically low mortgage rates, sweeping changes in the mortgage industry, increasing reliance on technology by home shoppers and those pesky millennials - who continue to be the subject of housing market consternation. The post-crash hangover still lingers in some markets, but many have completely shrugged of the funk of the Great Recession. Get PreApproved for a Mortgage for a Mortgage Build baby build is the tune that most of California is singing as inventory continues to dog housing markets statewide. The lack…