tag:blogger.com,1999:blog-35559459047605047442024-03-07T21:42:48.249-08:00Keith KnutssonKeith Knutssonhttp://www.blogger.com/profile/06865037098822372639noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3555945904760504744.post-66989145435856143742014-02-26T20:22:00.001-08:002014-02-26T20:22:49.657-08:00THE CURRENT HOUSING MARKETIn January of this year home sales fell to their lowest level in the past 18 months. Higher mortgage rates and prices have caused a shortage of properties for sale. Sales of previously owned homes fell by 5.1%, and the median sales price in January was at $188,900 which is a 10.7% increase from last year (WSJ, Home Sales Fall to 18-Month Low Amid Low Inventories). The housing market has turned to a marketplace for investors looking to strike it rich on foreclosing properties. The amount of homes being sold has dropped significantly not only due to increased prices, but also more severe weather nationwide, forcing a whole new array of insurance expenses. Ack of supply is also a large constraint on the market. In January there were only 1.9 million homes on the market, a number only seen for 3 months out of the last 12 years (WSJ, Home Sales Fall to 18-Month Low Amid Low Inventories). Construction of new homes also remains near its lowest level in 50 years. Builders completed fewer than 570,000 new single-family homes last year, down from an average of 1.1 million from 1990 through 2003 (WSJ, Home Sales Fall to 18-Month Low Amid Low Inventories). Economists worry that if the number of houses does not increase, the still recovering housing market will face a rough road. Keith Knutsson, real estate consultant writes on the matter of the current housing market. Keith Knutssonhttp://www.blogger.com/profile/06865037098822372639noreply@blogger.comtag:blogger.com,1999:blog-3555945904760504744.post-46651905271845031072011-05-06T09:54:00.001-07:002011-05-06T09:54:16.616-07:00Keith Knutsson | .nethttp://keithknutsson.netKeith Knutssonhttp://www.blogger.com/profile/06865037098822372639noreply@blogger.comtag:blogger.com,1999:blog-3555945904760504744.post-23452434359909551092011-05-06T09:53:00.003-07:002011-05-06T09:53:48.012-07:00Keith Knutsson | LinkedInhttp://www.linkedin.com/in/keithknutssonKeith Knutssonhttp://www.blogger.com/profile/06865037098822372639noreply@blogger.comtag:blogger.com,1999:blog-3555945904760504744.post-44971479255464949402011-05-06T09:53:00.001-07:002011-05-06T09:53:35.028-07:00Keith Knutsson | BigSighthttp://bigsight.org/keith_knutssonKeith Knutssonhttp://www.blogger.com/profile/06865037098822372639noreply@blogger.com