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Blog Archives: January 2015 — December 2015

The Rilliet Report November

November 06, 2015
Sheldon Rilliet
THE BUZZ This fall, real estate generally adjusted to a less frenetic seller's market. Maybe after the rush of multiple offers in many areas, buyers are fatigued and need a break. There are still instances where a listing gets multiple offers, but other listings are receiving one solid offer at or close to asking price. Pending home sales lost ground in September, reaching the lowest level of the year. Lawrence Yun, the National Association of Realtors chief economist, attributes the slowdown to the lower inventory ...

The Rilliet Report September 2015

September 21, 2015
Sheldon Rilliet
THE BUZZ Hi , Summer is in full swing and our real estate market is feeling the heat. Nationally, properties are selling faster than ever. According to the National Association of Realtors, 47% of homes sold in less than a month in June and the trend continues. In hot housing markets, some homes were falling under contract in 11 days or less. Silicon Valley's real estate market is leading in quick sales. Denver homes have gone into escrow within six days, Seattle's median is nine days, Portland is 10 days, and Boston is 11 ...

The Rilliet Report - July 2015

July 02, 2015
Sheldon Rilliet
THE BUZZ Hi [[autoname]], Summer is here and real estate is on the rise. According to the National Association of Realtors, the Pending Home Sales Index is at its highest level in over nine years, since April of 2006. Will this demand continue through the summer? According to First American Title's Chief Economist, Mark Fleming, the market continues to underperform in terms of market capacity. He cites affordability and economic uncertainty as the reasons for reduced demand: "True market values are beginning to meet or exceed the ...

The Rilliet Report - June 2015

June 10, 2015
Sheldon Rilliet
The first three months of 2015 began a new trend. The activity of buyer foot traffic was stronger than expected. Usually, spring is the buying season, but times may be changing. Pending home sales rose in April for the fourth straight month and reached their highest level in nine years, according to the National Association of Realtors (NAR). Then April marked a decline in existing-home sales nationwide. Lawrence Yun, NAR Chief Economist, expects a rebound in sales into the summer months. Such gains will depend on a boost in inventory, ...

The Rilliet Report April 2015

April 14, 2015
Sheldon Rilliet
THE BUZZ We are heading into the spring buying season. With the wind of February and March at our backs and pushing the market upwards, I am expecting strong sales in the months ahead. Pending sales are at the highest level since June of 2013 in the West and Midwest. The Northeast and South have experienced small declines. Lawrence Yun, the Chief Economist for the National Association of Realtors, says, "Pending sales are showing solid gains. A steadily improving labor market, mortgage rates hovering around 4% and the likelihood of ...

The Rilliet Report Jan 2015

January 06, 2015
Sheldon Rilliet
January is a time to look back and look forward. As I reflect on real estate in 2014, I can say that it was a good year. Home prices remained steady with a 2.1% increase nationwide. Demand outpaced supply in most neighborhoods. Still, home sales were down about 3% from the year before. So let's look forward. Could 2015 be a great year? Lawrence Yun, Chief Economist for the National Association of Realtors, predicts that 2015 will be positive due to many factors: the economy is growing, interest rates remain low, consumer confidence ...

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