Dominique Dalia-Rudolph

Posts with tag 'Housing Market Update'

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Homeownership | 77 Posts
Housing Market | 2 Posts
Huntington, NY | 1 Posts
Long Island | 133 Posts
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May
12

Some Highlights

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May
4

Consumers and the pucblic alike are wondering what will happen with home valuesin the coming years. Some people are concerned that the recent increase in home prices will lead to a situation similar to the housing crash 15 years ago.

Experts say, however, that the market is very different today. Odeta Kushi, Deputy Chief Economist at First American, recently to took to twitter on this issue:

". . . We do need price appreciation to slow today (it's not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a much different & safer space: better credit quality, low...

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May
3

Some Highlights

  • It's important to be aware of common misconceptions when you're planning to buy or sell a home today.
  • A professional  will help you to make the right decision when it comes to home prices and mortgage rates as a buyer or when it comes to knowing what upgrades or repairs to make before you

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April
20

What Do Supply and Demand Tell Us About Today's Housing Market?

The economic theory – the law of supply and demand – explains what's happening with home prices in the current real estate m...

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April
12

One question that's top of mind for homebuyers this year is: why is it so difficult to find a house to buy? The truth is, we're in a strong sellers' market, so real estate is extremely competitive for buyers right now. The amount of buyers searching for a home greatly outweighs how many homes are available for sale.

All though low inventory in the Long Island housing market isn't new, it's a challenge that has continued to grow over time. Here are two reasons why today's housing inventory is minimal and what it means for you.

1. New Home Construction Fell Behind for Several Years

The image below depicts new construction for single-family homes over the past five decades, including the long-term average for housing units completed. Builders exceeded that average during the housing bubble (shown in red on the graph). This resulted in an oversupply...

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