The following article is gleaned from Realtor magazine April 2008
New Jobs vs. New Housing
Historically, one new home owner is created fro every two new jobs, so if job creation continues in your area and builders are scaling back on production, it's just a matter of time before the supply and demand equation moves toward equilibrium.
Fewer Builder Concessions
Look for new-home builders in your area, as a sign of new confidence, to curtail their offerings of free mortgage payments, new toasters, designer landscaping, and other concessions they rolled out at the start of the downturn.
Months' Supply
The country had about a 10-month supply of housing at the end of Last year, but the figure you're interested in is the months' supply for your market. The historical nor is closer to six months.
Visitors per Listing
Look at the visitor trends tracked by your local MLS using today's computerized lock boxes. You can see not only how many visitors view the house buy how long they stay; more visitors staying longer suggests buyers are getting serious.
Rising apartment rents
Healthy rental rate increases show strong demand for rentals, but if such increases go on for too long or rates rise too steeply, renters will start inquiring about buying.
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