Almost every real estate conversation revolves around the continuous rise in house values over the last four years. Some have even mentioned a concern about another possible bubble forming. However, the recent increase in prices can be attributed to a very simple principle: supply and demand.
Demand for single-family housing has continued to increase as the economy slowly moves forward. Recent surveys have shown that over 80% of each generation still believes that homeownership is a part of the American Dream. And a recent Gallup survey showed that Americans believe that real estate is the best long-term investment.
Over the last several years, many homeowners were unable to put their homes on the market for an assortment of reasons (family finances, no or limited equity in the home). There has been a pent-up supply of sellers who have wanted to move but couldn't. Below is a graph depicting the number of years families have historically stayed in a home. We can see there is pent-up seller demand.
As the economy improves and more families reach the point of significant equity (20%), we will see these homes come to market. As supply then matches demand, the acceleration of home price increases will begin to slow.
If you are one of the families that have been chained to your current home over the last 5-7 years, now may be the time to break free and find the home of your dreams.
Author:Deborah Boyd Phone: 940-368-1306 Dated: June 15th 2016 Views: 711 About Deborah: My family has lived in North Texas for generations so I personally know the residential areas of Fri...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
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JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
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"Gary and I met while he was showing a house that I had scouted out. He was nice enough to stick around after his client left to show me the home. After speaking with him for few minutes I had decided to bring him on as my Realtor. Fortunately Gary talked us into shopping around in the area. After an extensive search, we ended up with the perfect home for our growing family. Thanks Gary!"