Supply & Demand Will Determine Future Home Values

Barbara BruceReal Estate, UncategorizedLeave a Comment

Determine Home Values

Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as: “The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply (the … Read More

2 Out of 3 Renters Want to Own. What’s Stopping Them?

Barbara BruceUncategorizedLeave a Comment

The Federal Reserve Bank of New York recently released the 2015 SCE Housing Survey. The survey revealed that most current renters would prefer owning and that 61.9% of them plan to buy a home within the next five years. 68.3% stated they would prefer owning (with 45.6% saying they ‘strongly’ prefer owning). When asked at what point in the future do they think they will own a primary residence: 8.2% said within a year 15.3% said in 1 to 2 years 38.4% said between 3 to 5 years What’s Holding Them Back? Of the 68.3% who would prefer to own, … Read More