J. Kent Erickson, Broker Associate
Direct / 208.447.7848

Holiday Gifts Are Not the Only Hot Things Right Now

Posted by on Dec 23, 2019 in Selling a Home | 0 comments

Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there’s another type of buyer that is very active this winter – the homebuyer. Each month, ShowingTime releases their Showing Index, which tracks the average number of appointments received on active U.S. house listings. The latest index revealed: “Traffic was more active once again compared to 2018, as the nation saw its third straight month of higher year-over-year showing activity…The 5.5% increase in showings nationwide was the largest jump in activity during the now three-month streak of year-over-year increases vs. 2018.” The same report indicates showings increased in every region of the country: The South increased by 10.8% The West increased by 8.6% The Northeast increased by 3.8% The Midwest increased by 1.5% Why is the traffic more...

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7 Reasons to List Your House This Holiday Season

Posted by on Dec 18, 2019 in Real Estate Market, Selling a Home | 0 comments

Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why listing your house now or keeping it on the market this winter may be the best choice you can make. Here are seven great reasons not to wait: Relocation buyers are out there now. Many companies are still hiring throughout the holidays, and they need their new employees to start as soon as possible. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now. You can restrict the showings on your home to days and times that are most convenient for you. You will remain in control. Homes show better when decorated...

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The #1 Reason to List Your House in the Winter

Posted by on Dec 11, 2019 in Selling a Home | 0 comments

Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition. So, what’s the #1 reason to list your house in the winter? Less competition. Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.As you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January).  Temperatures aren’t the only thing that heats up in the spring – so do listings!In 2018, listings increased from December to May. Don’t wait for...

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Existing-Home Sales Report Indicates Now Is a Great Time to Sell

Posted by on Nov 4, 2019 in Selling a Home | 0 comments

The best time to sell anything is when demand for that item is high and the supply of that item is limited. The latest Existing-Home Sales Report released by the National Association of Realtors (NAR), reveals that demand for housing continues to be strong, but the supply is struggling to keep pace. With this trend likely continuing throughout 2020, now is a great time to sell your house. THE EXISTING-HOME SALES REPORT The most important data revealed in this report was not actually sales. In reality, it was the inventory of homes for sale (supply). The report explained: Total housing inventory at the end of August decreased 2.6% to 1.86 million homes available for sale. Unsold inventory is lower than the 4.3-month figure recorded in August 2018. This represents a 4.1-month supply at the current sales pace. According to Lawrence Yun, Chief Economist at NAR, “Sales are...

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3 Signs the Housing Market Is on the Rebound

Posted by on Oct 23, 2019 in Real Estate Market, Selling a Home | 0 comments

The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound: 1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth. 2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity. Here is the month-over-month growth: The Northeast rose 0.7% The Midwest increased 0.6% The South increased 1.4% The West grew 3.1% 3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months. The Northeast is up 5.9% The Midwest increased 1.3% The South is up 2.7% The West grew 2.2% In their most recent...

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How Does the Supply of Homes for Sale Impact Buyer Demand?

Posted by on Oct 16, 2019 in Buying a Home, Selling a Home | 0 comments

The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand). Buyer Demand The map below was created after asking the question: “How would you rate buyer traffic in your area?”The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S. states, buyer demand is now very strong; only 2 of the 50 states have a ‘weak’ demand. Overall, buyer demand is slightly lower than this time last year but remains strong. Seller Supply  The index also asked: “How would you rate seller traffic in your area?”As...

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