Lake Oswego Real Estate National Housing Trends

The real estate market is always changing, and the growing reliance on technology in our industry makes it move even faster. Buyers and sellers search for homes and communicate differently than they did just two decades ago. On top of that, they also have more access to data and information than ever before. https://lakeoswegorealestateblog.wordpress.com/national housing trends

What are some trends that will have an impact on real estate in 2016?

  • Buying costs less than renting.

In most areas, it’s cheaper to buy instead of rent. According to Trulia, nationally, it’s 35 percent cheaper to buy instead of rent, and CNN Money reports that for millennials, it’s 23 percent cheaper.

  • The Internet is king.

The Internet continues to be the first stop for buyers and sellers looking for information. In fact, 43 percent of all buyers looked for properties online before contacting an agent or looking for information about the homebuying process. This percentage is even higher for younger buyers or millennials. It only makes sense. After all, younger buyers are more likely to have grown up with computers in their homes and access to the Web from an early age.

  • Agents are still necessary.

According to the National Association of REALTORS® Profile of Home Buyers and Sellers, 88 percent of buyers would use their agent again or refer him or her to others. Despite having incredible access to information, buyers and sellers still rely on agents to guide them through the real estate process. Buyers want their agents to help them find the right home, negotiate a great deal and help them with all the paperwork. Sellers, on the other hand, want their agents to market their home to potential buyers, sell it within a particular period and price it to sell. Technology hasn’t made agents obsolete — it’s made them more valuable.

Source: Inman News

The total value of America’s residential real estate hit $28.5 trillion at the end of 2015 according to analysis by Zillow. The housing market added $1.1 trillion in value, a 4.1 per cent increase on 2014. Although the growth was lower than in 2014 (6 per cent) some markets have outperformed the national average.

“Total home value growth slowed this year, but there was still a significant increase in overall value, and many markets are more valuable than they’ve ever been. At the same time, more renter households and rising rents combined to set new records in rental spending in 2015.

Americans are spending a lot of money on housing, and that will make affordability an important issue next year,” said Dr Svenja Gudell, Zillow’s chief economist. Americans shelled out nearly $20 billion more in rent in 2015 than in 2014 as people around the country set up 1.8 million new renter households and median monthly rents rose at a record pace.

Source: Mortgage Professional America

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  Or, I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs!

“There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of federal copyright laws

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