Author Archive

Spring 2017 Real Estate Update

May 22nd, 2017

Spring 2017 Market Perspective 5 Real Estate Trends to Expect in 2017 1. Millennials and boomers will move markets Millennials and baby boomers, the two largest American generations in history, are both approaching life stages that typically motivate people to buy a home: marriage, having children, retirement, and becoming empty nesters.  Analyst Jonathan Smoke predicts that millennials will make up 33% of buyers in 2017. 2.    Millennials will look to the Midwest While the financial picture may look grim for our youngest home buyers, the Midwest,

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Fall 2016 Real Estate Update

January 5th, 2017

Fall 2016 Market Perspective What’s Happening Nationally Home sales fell 10.9% as the median sale price increased 5.3% in July from July a year ago. New listings slid by 6%, the largest year-over-year decrease in 2016, a year starved of home supply. For the third month in a row, the number of homes available for sale fell by more than 6%. Data released for June 2016 shows that home prices continued their rise across the country over the last 12 months. What’s Happening with Home Prices

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Spring 2016 Real Estate Update

June 16th, 2016

Spring 2016 Market Perspective News Release: Lack of Inventory a Game-Changer KIRKLAND, Washington (February 4, 2016) – Depleted inventory is contributing to “overwhelming” traffic at open houses, shifts in strategies for both buyers and sellers, and escalating prices, according to officials with the Northwest Multiple Listing Service. The latest figures show a drop of nearly 28 percent in the number of active listings in the MLS database compared to a year ago. At month end, the Northwest MLS reported 12,357 active listings, which compares to

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Spring 2015 Real Estate Update

June 1st, 2015
Spring Flowers 2

Spring 2015 Market Perspective Overview The real estate industry is expected to strengthen this year and continue to get stronger through 2017, according to a new report released from the Urban Land Institute Center for Capital Markets and Real Estate, which is based on a survey of the industry’s top economists and analysts. Survey respondents said that the residential, single-family housing sector remains in recovery mode and economists predict that housing starts will rise from 647,000 in 2014 to 700,000 in 2015; to 815,000 in

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Winter 2015 Real Estate Update

February 12th, 2015
Gig Harbor Winter Photo

  Home Prices The National Median Sales Price of all homes sold in December was $196,000. This was 0.5% higher than the median price in November, and 5.9% above the median price seen in December 2013. On a year-over-year basis, the Median Sales Price has now risen for 35 consecutive months. Because inventory has generally moved in a positive direction this year and demand has been slightly below 2013 levels, home prices have not been rising as rapidly as last year. In December 2013, prices

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Summer 2014 Real Estate Update

October 7th, 2014
Summer Photo

Summer 2014 Market Perspective Home Prices – Nationally, the median home price increased 5.3% in June to $223,300, up 4.3% from the same month last year. We observed home price growth at a similar rate last year. However, the year-over-year price increase in June was less than half of that seen last year. This slower rate of annual appreciation is more consistent with sustainable growth.   Home sales have begun to pick up after this year’s sluggish start. August sales are down .8% from last

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#1 Agents are With the #1 Company

August 25th, 2014
KW Logo - Red Script

In May, REAL Trends released its annual list of the industry’s Top 500 brokerages.  Keller Williams brokerages comprised 26 percent of the list – more than any other franchise. Keller Williams also increased its representation on the REAL Trends Canadian 250, with the number of offices listed by both transactions and volume increasing 18 percent year over year.  Click Here to read the entire article.

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Spring 2014 Real Estate Update

April 10th, 2014
Spring Photo

Spring 2014 Market Perspective Home sales declined in January with the combined effects of severe winter weather and the decline in affordability due to higher mortgage rates and prices than those seen in the previous year. Sales have also been hindered at the beginning of this year by new mortgage and flood insurance regulations that recently took effect.  The flood insurance regulations are currently set to be reviewed and buyers and sellers in flood-prone areas may want to become informed on how these regulations and

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Fall 2013 Real Estate Update

November 5th, 2013
Fall Photo

     Fall 2013 Market Perspective In August, the seasonally adjusted annual rate of home sales jumped to the highest pace since February 2007, as many buyers made the effort to lock in rates before they rise any further. While rates have ticked down due to the Federal Reserve’s announcement that it would not taper its unconventional asset purchases in September, rates are still likely to slowly rise through the end of the year. Prospective buyers should take advantage of what is still a historically high

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Summer 2013 Real Estate Update

August 23rd, 2013
Summer Photo

  MARKET PERSPECTIVE The recovery of the U.S. housing market now appears to be well under way.  While demand is still high, even with credit conditions constraining buyers, the low level of inventory is having a significant effect in most markets.  This is likely to persist through the year, due to the rapid sales velocity and only modest additions to inventory levels. May saw a significant jump in sales velocity where existing home sales were at the highest point since November 2009, when the annualized

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Contact Barb Magnuson

Magnuson Residential & Commercial Properties
Keller Williams Realty - West Sound
11515 Burnham Drive NW, Gig Harbor, WA 98332
(253) 307-4505
(253)851-4511
(253) 857-8700

barbmagnuson@gmail.com

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