Blog :: 09-2013

Turning Point for Housing Market? Key Drivers Shift from Supply to Demand

 

 

Rising inventory, slow-and-steady price increases signal healthier outlook in most markets

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Rising inventory, slow-and-steady price increases signal healthier outlook in most markets

 

Realtor.com®, a leader in online real estate operated by Move, Inc., has released the realtor.com® National Housing Trend Report for August 2013. As the year's peak home-buying season comes to a close, key market indicators point to a shift in the dynamics of the housing market, suggesting that future home value appreciations may likely be driven by market demand, rather than inventory shortages.

 

An analysis of the summer home-buying season ending in August shows year-over-year changes now within the single-digits for three key indicators - inventory count, median age and median list price, signaling a leveling of the market not seen for some time. The national market was virtually flat month-over-month compared to July for both inventory and median list price, and registered a slight increase in median age of inventory.

 

"Where we have seen significant volatility in many markets, including double-digit declines in inventory as well as increases in median price for both yearly and monthly views, we are now looking at a housing market that is less heated and moving closer to normalcy," said Steve Berkowitz, CEO of Move.

Realtor.com®, a leader in online real estate operated by Move, Inc., has released the realtor.com® National Housing Trend Report for August 2013. As the year's peak home-buying season comes to a close, key market indicators point to a shift in the dynamics of the housing market, suggesting that future home value appreciations may likely be driven by market demand, rather than inventory shortages.

An analysis of the summer home-buying season ending in August shows year-over-year changes now within the single-digits for three key indicators - inventory count, median age and median list price, signaling a leveling of the market not seen for some time. The national market was virtually flat month-over-month compared to July for both inventory and median list price, and registered a slight increase in median age of inventory.

"Where we have seen significant volatility in many markets, including double-digit declines in inventory as well as increases in median price for both yearly and monthly views, we are now looking at a housing market that is less heated and moving closer to normalcy," said Steve Berkowitz, CEO of Move.

Kitchen remodeling ideas for under $500

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Remodeling a kitchen may sound like a big, expensive project. But the truth is that there are ways to breathe new life into an old kitchen without spending much money.

"A kitchen remodel can be done on any budget," says Lowe's spokeswoman Jaclyn Pardini. "The secret to success lies in careful planning. Conduct research ahead of time, find your inspirations, and know which projects you can complete yourself and which ones you'll leave for an expert."

Naturally, there are limits to what you can do on a budget. But many home-remodeling experts stress that moderately handy homeowners with just a little cash to spend can make a big difference in their kitchen. And if the work looks good, you're adding equity to your home, according Erin Davis, lead designer for Mosaik Design & Remodeling in Portland, Ore.

Here are some kitchen remodeling projects that cost $500 or less.

1. Spruce up walls with fresh coat of paint. 2. Freshen up cabinets by adding or replacing hardware or get more involved and        paint them. 3. Give the kitchen sink a makeover with a new faucet. 4. Update the lighting. 5. Add a backsplash. 6. Install more storage.