RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

For the Real Estate Market, the Outlook is Good

July 14, 2017 1:00 am

Despite the rise in home prices and affordability issues in several pockets of the country, the U.S. housing market has a bright future. According to Nationwide’s latest forward-looking barometer of U.S. housing market health, the primary reason for the positive outlook is simple: housing demand. Household formation growth picked up sharply over the last quarter to move above the long-term average, and job gains remain solid.

According to Nationwide's Health of Housing Markets Report (HoHM Report), household growth is expected to remain above average during the next few years, increasing demand on an already limited supply of homes. In fact, while the National Association of REALTORS® recently reported that national home inventory is at about four months at the current sales pace, several markets are experiencing just a month's supply of inventory turnover in half – and even a quarter – of that amount of time.

The report also found that, regionally, the rankings show positive and healthy housing trends in more than 75 percent of MSAs, suggesting sustainable expansion during the next year.

While markets with strong ties to the energy sector (including North Dakota, Texas, Louisiana, and Alaska) continue to dominate the bottom 10 rated MSAs, the outlook for housing in these areas is slowly improving as energy production and employment recover.

MSAs with the lowest housing inventory are, in order: Seattle-Bellevue-Everett, Wash.; Denver-Aurora-Lakewood, Colo.; Tacoma-Lakewood, Wash.; Boulder, Colo.; Fort Collins, Colo.; Portland-Vancouver-Hillsboro, Ore.-Wash.; Mankato-North Mankato, Minn.; Olympia-Tumwater, Wash.; San Francisco-Redwood City, Calif.; Sacramento-Roseville, Calif.; Fort Worth-Arlington, Texas; Dallas-Plano-Irving, Texas; San Diego-Carlsbad, Calif.; Columbus, Ohio; and Oakland-Hayward-Berkeley, Calif.

The 10 top metro areas in the index are, in order: Lancaster, Pa.; Scranton-Wilkes-Barre, Pa.; Fort Smith, Ark.-Okla.; Lawton, Okla.; Durham-Chapel Hill, N.C.; Pittsfield, Mass.; Toledo, Ohio; Springfield, Mass.; Philadelphia; and Vineland-Bridgeton, N.J.

Source: Nationwide

Published with permission from RISMedia.


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Priciest Zipcodes, Unveiled

July 14, 2017 1:00 am

It’s no secret that some areas of the country are pricier than others. To explore this,

GOBankingRates used data from Zillow to find out how zipcodes stacked up against one another. To do this, the company surveyed median home values and mortgage payments, as well as cost of living expenses such as groceries, transportation, utilities and healthcare for zip codes in 48 states and the District of Columbia. To find the total amount of money needed to live comfortably in each zip code, the study split the costs using the following metrics: necessities (50 percent), discretionary income (30 percent) and savings (20 percent).
Below are the results.

Top 5 Most Expensive Zip Codes

Atherton, Calif.: 94027
Total Income Needed: $668,078

Water Mill, N.Y.: 11976
Total Income Needed: $438,510

Alpine, N.J.: 7620
Total Income Needed: $330,756

Medina, Wash.: 98039
Total Income Needed: $297,905

Greenwich, Conn.: 6830
Total Income Needed: $222,002

Additional Study Insights

- Honolulu, Hawaii (96821) sits at No. 6 on the list of most expensive zip codes across the country, with a total income of $202,798 needed to live comfortably there. This city also has utility, transportation and grocery costs that top the charts.

- Of the most expensive ZIP codes in every state, the 25314 ZIP code in Charleston, West Virginia is the lowest, with a total income needed of just $61,100.

- South Dakota and Maine have been excluded from the list due to lack of data (for example, only two ZIP codes exist in Maine).

Source: GOBankingRates

Published with permission from RISMedia.


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