Coldwell Banker Premier Realty

Single Family Home Price Update

Case-Shiller Update
Posted by John McClelland on March 03, 2017 in  Case Shiller Las Vegas  Home Price Trends
Periodically, its good to put recent price changes into perspective by zooming out and looking at a longer time period. A lot of the headline numbers today are talking about Las Vegas price changes and while year-over-year and month-to-month changes can be important and useful a little more context about where we have come is interesting.The charts below update our previously published exhibits that note key points of interest along the time series. Generally, prices have been increasing in a relatively s... read more
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Highlights from NAR's Aspiring Home Buyers Profile

summary of NAR's recent survey of aspiring home buyers
Posted by John McClelland on February 27, 2017 in  down payments  NAR  Realtors  Student Loan Debt
The National Association of Realtors recently published its 2017 Aspiring Home Buyers Profile, an examination of non-homeowners, using survey results.Some of the highlights are: Of non-owners, 59 percent were 34 years old or less. Of non-owners, 63 percent felt that now was a good time to buy 8 of 10 non-owners thought that homeownership is part of the American Dream Of the main reasons for not owning a home, 55% said they can't afford one, 22% responded that they need the flexibility of renting. S... read more
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Home Price Futures Contracts

Let the market predict home prices
Posted by John McClelland on February 07, 2017 in  Hedging Home Prices  home price risk  John Dolan  Las Vegas CME contracts  S and P Case Shiller
Predictions for residential real estate are challenged by the increasing opacity brought on by mortgage rate increases, a stronger dollar, a new presidential administration and demographic trends that are not well understood, such as the demand for housing by millennials.  In some minds, if increasing interest rates are a response to an improving economy, either through Federal Reserve increases or market responses, on the net, housing demand may remain robust. In other views, homebuyers may have be... read more
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The Las Vegas Condo Market is Interesting Again

Prices move rather dramatically against low supply
Posted by John McClelland on December 14, 2016 in  las vegas condominiums
We normally focus most of our attention on the single family market since the Clark County housing stock is dominated by single family. However, condominiums, which make up about nine percent of the housing stock, has gained our attention due to price movement within the sector. In year-over-year measured from November, median prices are up almost 16% while single family homes have risen by 9%. Median days on market for condominiums has shrunk to 23 days while single family also remains at a below typical 27 days.M... read more
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Looking at October Single Family Metrics

home prices move sideways again
Posted by John McClelland on November 11, 2016 in  home prices  single family homes

With a relatively balanced supply-demand picture, single family home prices traded sideways once again. For most of 2016, prices moved little with just two months accounting for most of the year's increase. Underlying fundamentals continue to improve so we are very comfortable with prices at these levels.

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