Archives for May 2020

If you are considering buying a house or an investment property in the Denver real estate market, you’ll find all the housing statistics on this page to help you make a sound decision. Shortage of housing for a growing population, a strong economy & increasing jobs have been fueling the demand in Denver’s housing market. Despite significant gains in the housing stock in 2020, the Denver metro area house prices are holding steady year-over-year.

The year 2020 began very much still in favor of sellers for the Denver Housing Market. By the end of 2020, the house prices in Denver were expected to rise by 2 to 3 percent, which meant it was likely to be another year of affordability crisis for buyers. Despite the effects of COVID-19 which have slowed the economy since March 2020, Denver and the entire metro area remain a seller’s real estate market, especially in the $300,000 to $399,000 price range.

 

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If you are considering buying a house or an investment property in the Tampa real estate market, you’ll find all the housing statistics on this page to help you make a sound decision. Tampa is gaining popularity owing to its hot housing market where several investors have been putting in their stakes. The rental market is very strong in Tampa Bay. It is one of the top locations for buying rental property in Florida. There are several economic and development prospects attached to this market and Tampa, FL is of the hottest real estate markets in the U.S. in 2020.

The Tampa housing market is growing steadily, prices are still low and properties have a good chance for a strong appreciation in the coming years. There is less than 2-month of the available inventory in the entire Tampa metro area – down almost 21.4% over last year. This is one of the key factors in rising home prices. The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 months of inventory. Anything lower than 5.5 months of inventory is traditionally a sellers’ real estate market.

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If you are looking at buying an investment property in the Reno real estate market, you’ll find all the housing statistics on this page to help you make a sound decision. The real estate market in Northern Nevada has been growing strong and steady. Home prices and demand have surged in the Reno housing market over the last decade. As a result of an influx of companies and jobs in Northern Nevada, strong housing demand continues to put pressure on the available supply.

The surge in demand due to housing shortage combined and fewer new construction has led to a sharp increase in house values in recent years. Despite slow down in real estate sales due to COVID-19, the median price for an existing single-family home in the city of Reno went up to $439,500 in April 2020, a nearly 10% increase from a year ago.

The end of the first quarter of 2020 saw no indication of prices coming down in the Reno area. That’s mainly due to the low inventory of homes as home sellers are holding off on listing their properties until the pandemic is over. The median price in March was $430,000 — a 6 percent increase from February ($405,373) and a 10 percent increase from March 2019. Let’s talk a bit about Reno before we discuss what lies ahead for investors and homebuyers.

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If you are looking at buying an investment property in the NYC real estate market, you’ll find all the housing statistics on this page to help you make a sound decision. Let us first look at the statewide data. The New York real estate market has been booming year-over-year. With supply and demand continuing to favor sellers, prices continue to rise and temper homebuyer activity. The overall median sales price increased by 5.7 percent to $280,000 for the year 2019. Pending sales increased by 3.0 percent and closed sales were down 1.1 percent to end the year.

2020 began with increased sales activity in the New York housing market, with the year expected to be a strong one for the industry. The first quarter of 2020 started strong but as we moved into March, the spread and impact of COVID-19 became more apparent. Until mid of March 2020, neither pricing nor transactional real estate in New York saw any major threat emanating from the pandemic. As we moved further into March, the spread and impact of COVID-19 reflected more in the NYC real estate sales, as it started to diminish.

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