June Newsletter

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Recent Posts

It’s a Home Seller’s Market- and Baby Boomers are Cashing In

In the hottest real estate market since the peak before the Great Recession, home sellers are calling the shots. Most of those sellers are baby boomers—and they’re making out like bandits.

Sellers made a median $66,000 on the sale of their homes—a $6,000 increase from the previous year, according to the National Association of Realtors® 2021 Home Buyers and Sellers Generational Trends Report.

The report covered only the early months of the COVID-19 pandemic, as it was based on a survey provided to people who purchased a home from July 2019 to June 2020. About 8,200 new homeowners responded to the 131-question survey.

“In a real estate market that is tipped in the favor of sellers, boomers and older homeowners are really the ones holding the cards,” says realtor.com® Chief Economist Danielle Hale. Those who are selling homes can use the profits to help them buy new ones, she adds, pointing out that they’re “generally better equipped to deal with market conditions.” Read More>

Will the Housing Market Crash Again?

The housing market for the past few years has been really, really good. Home values keep increasing and interest rates are hitting record lows. Many of us who saw this same pattern leading up to the 2008 Great Recession are wondering- When will this bubble burst? Especially when the economy has been less than stable, it’s a significant question that can lead to lack of trust in the current market.

On that front, we have encouraging news. The factors leading to today’s market boom are significantly different from the dangerous practices leading to the 2008 bubble. The main differences driving the current economic outlook are lending requirements and market supply. Economists do not predict that there will be a crash, but more likely there will be a return to pre-2020 growth rates. This means that instead of seeing double-digit increases in home prices (23.3% in April, per the NWMLS) we will likely return to single-digit growth as housing supply increases. Read More>

June Community Events

5

Saturday Cruz-ins at Sunrise Village

19

Juneteenth

20

Father’s Day

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