About Marco Santarelli

Marco Santarelli is an investor, author, Inc. 5000 entrepreneur, and the founder of Norada Real Estate Investments – a nationwide provider of turnkey cash-flow investment property. His mission is to help 1 million people create wealth and passive income and put them on the path to financial freedom with real estate. He’s also the host of the top-rated podcast – Passive Real Estate Investing.

California Housing Market 2020 Overview

August 9, 2020 by Marco Santarelli Leave a Comment

The coronavirus pandemic has literally gone viral and the California real estate market also got impacted by it. Today, we decided to take a look at the impact of the coronavirus pandemic on the California housing market. We’ll also look at the likely medium and long-term effects of the outbreak. After the real estate market suffered its worst month in 13 years, California’s Realtors and landlords saw a big rebound in the housing market in Los Angeles, San Francisco, San Jose, San Diego, and Sacramento, in June.

Home sales bounced back in June by almost after hitting a record bottom in May. Sales were up 42.4 percent from May and down 12.8 percent from June 2019. The luxury market suffered the most with more than 50% drops in sales. Sales Price to List Price Ratio of 99.5% in June means homes are selling for very close to their listing prices.

June’s statewide median home price was $626,170, up 6.5 percent from May and up 2.5 percent from June 2019. Throughout the state, single-family home prices rose 6.5% to $626, 170, or a rise of $38,000 from the previous month. Sales grew 42.5% from May. California condo prices rose 4.6% as a month to month sales increased by 68.5%. Condo prices have risen 4.6% YoY while sales slumped 16.2%.

The return in the COVID-19 cases remains a concern across the nation as well as California, and it may hinder the recovery of the housing market in the second half of 2020. Meanwhile, the lowest ever mortgage rates have been able to increase the buyer activity, which in turn may help to sustain the rise in sales in the coming months.

The latest “CALIFORNIA HOUSING MARKET REPORT” is given below.

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Housing Market 2020 Forecast: Will It Crash or Recover?

August 5, 2020 by Marco Santarelli 1 Comment

Here are the updated national housing market trends—home prices, inventory, sales, and forecast. If you're wondering what the state of the housing market 2020 will be like over the next twelve months, especially if you're an investor, then here is some good news for you. Given the current fundamentals, real estate sales should remain strong in most U.S. houisng markets for the foreseeable future. The US housing market has begun to show signs of heating up as more buyers and sellers returned to the market in July.

Housing units are still in short supply with the problem getting worse. Unsold inventory sits at a near 4.0-month supply at the current sales pace. Buying activity slowed due to the pandemic but has significantly rebounded since June. The pent-up demand drove the home prices up 8.1 percent in July. In fact, in just the second quarter alone, the housing demand went from being down 41% to up 40% year-over-year. That's a quick and huge bounce back even seen before in the housing market.

Low mortgage rates, population growth, and an increase in buyer interest are further driving the demand for available housing. Earlier, in the first quarter, some economists had predicted that housing prices would fall in 2020 but such forecasts are losing grounds as the U.S. housing market, so far, remains undaunted by the economic recession.

Home prices rose during the pandemic and could rise even further due to heavy buyer competition and a significant shortage of supply. In July, the national median home price gain marked 101 straight months of year-over-year gains. According to Realtor.com, it has taken four months for the U.S. housing market to get back to the more normal pace of growth we saw before the COVID-19 pandemic.

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Houston Real Estate Market 2020 Overview

August 4, 2020 by Marco Santarelli Leave a Comment

We will discuss the latest Houston real estate market trends & news and find out how they can affect the investors and homebuyers in the latter half of 2020. This housing market has been impacted by the pandemic and slumping oil prices which led to a decline in home sales down. However, the market conditions are showing some signs of improvement due to growing consumer interest and pent up demand after two months of continuous decline in sales.

A huge number of homes went under contract in May after COVID-19-related stay-at-home orders expired which led to a surge of closings in June. Home sales in the Houston housing market are back up to levels considered to be normal for the summer buying season. Homes priced between $250,000 and $500,000 led the way among all housing segments, soaring 28.3 percent year-over-year. The second-best performer consisted of homes in the $500,000 to $750,000 range, which jumped 18.6 percent, according to H.A.R.

Just like the previous month, closed sales were up by 22.2 percent for the week ending July 6 fueled by the increase in listings that went under contract in May and June. However, the fear of pandemic and its impact on real estate sales is still looming large due to spike in cases across greater Houston and other parts of Texas. Whether home sales would continue to climb up or plunge again in the third quarter of 2020 is not certain.

New listings were down for a fifth consecutive a week during the week ending July 6 compared to 2019. Pending sales, which have been strong over the last several weeks, also reflected mounting concerns related to a spike in coronavirus cases with a 3.6 percent decline for the week ending July 6 compared to the same week in 2019.

The complete “HOUSTON HOUSING MARKET REPORT” is given below.

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San Antonio Real Estate Market & Investment Overview 2020

August 3, 2020 by Marco Santarelli Leave a Comment

Let’s take a look at the current state of the San Antonio real estate market amid the coronavirus pandemic. Then we’ll discuss the investment opportunities in San Antonio for real estate investors. San Antonio is one of the best places to visit and has one of the fastest-growing economies in the country, driven by sectors such as military, tourism, health care, and insurance. San Antonio housing prices rose by around 5% in the last year due to strong demand.

Before this pandemic hit the nation, even though the San Antonio housing market had cooled off a bit, the home values were expected to climb but at a slower pace in 2020. Realtor.com had predicted that prices for single-family homes in the San Antonio metro area will climb by just 0.8 percent in 2020. According to the latest MLS report by “SABOR,” since the start of 2020, there have been 9,089 active listings and 16,840 total home sales in the city with an average of 64 days on the market.

This further demonstrates the ongoing supply of homes as they sell. In June, San Antonio's average price of a home increased by 3% as compared to June 2019. Year-to-date, the average price has shown an increase of 5% to $278,395. The reports showed 3,823 homes sold in San Antonio during the month of June, an increase of 14 percent. The month of June shows an increase in all four categories indicating stability in the market. The complete up-to-date San Antonio housing market report is given below.

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NYC Real Estate Market 2020 Overview

August 2, 2020 by Marco Santarelli 1 Comment

Let’s take a look at the current state of the NYC real estate market amid the coronavirus pandemic. On the page, you'll find the latest housing market reports for NYC and also for the state of New York. Let us first find out the latest news about the housing market of New York City, which has been the epicenter of this pandemic. Our main focus would be on the last month's housing prices and sales statistics in NYC. We shall also discuss the overall performance of New York State's real estate market in the second quarter of 2020.

The median sales price in the NYC hit $718,000 in June for the highest figure year-to-date. June also marked the first noticeable year-over-year price contraction, coming in 2% below June 2019's median of $735,000. Residential sales in NYC were reported to be down by 25% as compared to last year. Data by PropertyShark.com shows that in the second quarter of 2020, the median home sale price in NYC was $688K, a -1% change year-over-year. There were a total of 3422 transactions, down 62% compared to the same month last year.

The median price per square foot was $629, a -26% year-over-year change. The median home sale price in Manhattan was $1M. The median house sale price in New York City in Quarter 2 was $660K, up 7% year-over-year. Conversely, median condo prices in New York City trended down 20% year-over-year to $930K. Median coop sale price in New York City was $489K, a change of 0% year-over-year.