Holiday Gifts Are Not the Only Hot Things Right Now

Holiday Gifts Are Not the Only Hot Things Right Now

Presented as a public service by Joe Peters of Coldwell Banker

Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there’s another type of buyer that is very active this winter – the homebuyer.

Each month, ShowingTime releases their Showing Index, which tracks the average number of appointments received on active U.S. house listings. The latest index revealed:

“Traffic was more active once again compared to 2018, as the nation saw its third straight month of higher year-over-year showing activity…The 5.5% increase in showings nationwide was the largest jump in activity during the now three-month streak of year-over-year increases vs. 2018.”

The same report indicates showings increased in every region of the country:

  • The South increased by 10.8%
  • The West increased by 8.6%
  • The Northeast increased by 3.8%
  • The Midwest increased by 1.5%

Why is the traffic more active?

One of the main reasons buyer traffic has increased year-over-year is that mortgage rates have fallen dramatically. According to Freddie Mac, the average mortgage rate last December was 4.64%. Today, the rate is almost a full percentage point lower!

Bottom Line

There are first-time, move-up, and move-down buyers actively looking for the home of their dreams this winter. If you’re thinking of selling your house in 2020, you don’t need to wait until the spring to do it. Your potential buyer may be searching for a home in your neighborhood right now.


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Rent prices are skyrocketing in these 15 N.J. real estate markets

Rent prices are skyrocketing in these 15 N.J. real estate markets

Reposted from NJ.com

It’s not a renter’s market in New Jersey. The state has the fifth-highest median rent in the nation, along with high housing costs that force tenants to stay in their apartments rather than purchase a home.

But there’s a bright spot for renters out there: New Jersey’s median rent fell slightly in the past year, by 1.1 percent, while the rest of the nation increased 1.3 percent. Those slight differences might add up in the coming years.

Other towns are seeing a boom in rent prices, particularly by the Shore. Most of the towns on this list also have a median rent above the New Jersey median of $2,014. Scroll through to find out the towns that have seen the largest increase in rent prices from May 2017 to the same time this year.

A note about the data: The rent prices and changes come from Zillow’s seasonally adjusted rental market index. It does not account for differences in the type of rental properties available in a particular location. Zillow tracks rental prices in 543 of the 565 N.J. municipalities, so not all are represented in the data.