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3 Graphs that Show What You Need to Know About Today’s Real Estate Market

Thursday, April 4, 2019   /   by The Workman Team

3 Graphs that Show What You Need to Know About Today’s Real Estate Market

3 Graphs that Show What You Need to Know About Today’s Real Estate Market


3 Graphs that Show What You Need to Know About Today's Real Estate Market | MyKCM



The Housing Market has been a hot-topic in the news lately. Depending on which media outlet you watch, it can start to be a bit confusing to understand what’s really going on with interest rates and home prices!


The best way to show what’s really going on in today’s real estate market is to go straight to the data! We put together the following three graphs along with a quote from Chief Economists that have their finger on the pulse of what each graph illustrates.


Interest Rates:



“The real estate market is thawing in response to the sustained decline in mortgage rates and rebound in consumer confidence – two of the most important drivers of home sales. Rising sales demand coupled with more inventory than previous spring seasons suggests that the housing market is in the early stages of regaining momentum.” - Sam Khater, Chief Economist at Freddie Mac


3 Graphs that Show What You Need to Know About Today's Real Estate Market | Keeping Current Matters


Income:



"A powerful combination of lower mortgage rates, more inventory, rising income and higher consumer confidence is driving the sales rebound." - Lawrence Yun, Chief Economist at NAR


3 Graphs that Show What You Need to Know About Today's Real Estate Market | Keeping Current Matters


Home Prices:



“Price growth has been too strong for several years, fueled in part by abnormally low interest rates. A mild deceleration in home sales and Home Price Index growth is actually healthy, because it will calm excessive price growth — which has pushed many markets, particularly in the West, into overvalued territory.” – Ralph DeFranco, Global Chief Economist at Arch Capital Services Inc.


3 Graphs that Show What You Need to Know About Today's Real Estate Market | Keeping Current Matters


Bottom Line


These three graphs indicate good news for the spring housing market! Interest rates are low, income is rising, and home prices have experienced mild deceleration over the last 9 months. If you are considering buying a home or selling your house, let’s get together to chat about our market!


 


  first time home buyer

My UT Real Estate Group with All American Realty
Staci Powell
3297 W Provost Cir
South Jordan, UT 84096
801-913-2463

Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of September 30, 2020. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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