BUY, SELL AND BUY AGAIN
“Every forecaster from Mark Zandi to Donald Trump says the worst is over and real estate markets will continue to heal and improve (Psychoanalyzing Sellers, Steve Cook).” The worst is over. Say it, think it, breathe it! Refreshing, isn’t it?? The market is on an upward slope, mortgage rates are at the lowest they’ve been since the depression and unemployment rates are also decreasing. Buyers have caught on so why haven’t the sellers? For buyers the inventory is extremely limited. Maybe sellers are waiting for the market to continue upward a little bit more before they sell. But maybe money isn’t incentive enough. “Money can’t do a lot of things in life, including making people move (Psychoanalyzing Sellers, Steve Cook).”
If money is not enough, what motivates us to sell? The latest NAR Profile of Home Buyers and Sellers give us a list:
1) Job relocation
And why do we buy?
1) Need larger home
Interesting that sociality, much more than money, is what motivates us to buy and sell. We could speculate that sociality is what motivates us to do almost everything… an idea that is probably accurate no matter where you are in the world. Perhaps money has prevented us from buying and selling these last six years. But moving forward, as the market increases, it will take more than the motivation of money to stimulate people to sell. As the market continues to improve, employment increases, and our social surroundings start stirring again, it seems likely that homeowners will slowly feel stimulated to sell and buy again.
Blog Archive2016-03-04 11:45:30
Utah #16 in Hottest Markets
Utah's Hot Housing Market
Things to do in Salt Lake City
Utah in Top 100 Places to Live
Housing Conditions Improve
Environmental Changes and Real Estate
MAY REPORTS SHOW MAJOR LACK IN CONFIDENCE
First Quarter Mortgage Reports
Job Losses in the Recession
The Effect of Student Loans on Housing Recovery
Delinquency & Foreclosure Rates DOWN!!
December Existing-Home Sales
Mortgage Rates Continue a Slow Climb
Home Equity in 2013
Expected Decline in Mortgage Delinquency Rate
Median Sales Price Comparison
Housing Recovery Report
Utah Employment Report Dec 2012-May 2013
Jobs Created Report
55+ Housing Market Sharp Increase Q1
Q1 2013: The Reports Are Out!!
Single Family Residences as Rentals: Rate Increase
Click here to see ALL articles.