NAR chief economist, Lawrence Yun, asserts that the increase of May’s pending home sales index is a clear sign of a “sustainable recovery.” Home contracts continue to show progress in both monthly and annual gains–a clear indicator on how the market is performing–by reaching the highest level in two years.
A recent Gallup Poll asks surveyors to rate honesty and ethics in 21 ranked professions. From telemarketers, funeral directors to medical doctors, this poll showcases public opinion on the ethical standards of each field.
Real estate professionals have ranked the highest yet since 1976–surpassing lawyers, business exec’s and advertising professionals.
Over the past few years, the housing market has favored those looking to buy a home rather than those looking to sell. As the number of homes for sale on the market have increased, potential home buyers have held the upper hand in negotiating.
However, the tide may be turning for sellers. With now being a good time to buy, many sellers are witnessing the housing market to be in their favor. An article on RealtorMag reports about 28 percent of Americans feel that not only is it a good time to buy, it’s also a good time to sell. This article gathers its data from a survey by Redfin, of more than 1,200 potential buyers in 18 cities.
This survey reports nearly 60 percent of respondents believe prices will rise this year, up from 34 percent of last year. What does this mean? The sellers are now becoming the negotiators in this transaction. Seventy-one percent of respondents also said “they are seeing more bidding wars and multiple bids on homes today, too.” As previously stated, now is the best time to buy. And just as record-low interest rates are luring potential home buyers, the decreasing number of homes for-sale have provided a boost of optimism for sellers.
An index created by e-forecasting.com and Providence Business News reveals a positive forecast of the state’s future. RI’s economic indicators rose by 1% in April, as it “marked the sixth consecutive month of increases in the index, which rose 1.1 percent in March after a 1.2 percent climb in February.”