Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. This also applies to RCFE homes. CoreLogic, in their latest Home Price Index (HPI) said: “The economic downturn that started in March 2020 is predicted to cause a 6.6% drop in the HPI by May 2021, which would be the first decrease in annual home prices in over 9...
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In a recent survey of RCFE home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the economy. The data, however, is showing that RCFE home purchasers are still very active...
Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important? According to NAR, the Pending Home Sales Index (PHS) is: “A leading indicator of housing activity, measures housing...
On Monday, June 8, 2020, the National Bureau of Economic Research (NBER) announced that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the Bureau defines a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the...
As the health crisis started making its way throughout our country earlier this spring, RCFE sellers have been cautious about putting their homes on the market. This hesitation stemmed primarily from fear of the spread of the coronavirus, and understandably so. There have been strict “No Visitor” policies in place at all Orange County RCFEs, and no touring by buyers has been...
With the housing market staggered to some degree by the health crisis the country is currently facing, some potential purchasers of RCFE homes are questioning whether RCFE home values will be impacted. The price of any item is determined by supply as well as the market’s demand for that item. Each month the National Association of Realtors (NAR) surveys “over 50,000 real estate practitioners about...
After seven weeks of staying at home, everybody is figuring out ways to make life feel a bit more normal again. Door Dash is on the go delivering food from local favorite restaurants. Church service is now streaming live with the ability to hit pause if the two-year old is acting up. With Zoom meetings all week long, working from home in t-shirts and shorts is not a bad way to get a lot accomplished. The...
Some Highlights Staying at home in quarantine doesn’t mean your search for a new RCFE needs to come to a standstill.Check out these tips on how to explore other neighborhoods virtually in the RCFE home buying process. You may find a spot that better suits your needs without ever leaving your living room!We at RCFE Resource can help you with all of the additional steps along the way, so...