13 Reasons U.S. Real Estate Market Is Stronger Than You Think

This article comes from https://finance.yahoo.com/ and it has a lot of good reasons that the real estate market is stronger than we think!

"DELINQUENCIES AND FORECLOSURES DOWN
– Mortgage delinquencies (loans 30 or more days past due, but not in foreclosure) down 3% in May
– Delinquencies at lowest level since January 2000
– 39k foreclosure starts—lowest number in 18 years
– Number of loans in active foreclosure lowest in 13 years
– However, 9 states saw increases in delinquencies, such as Mississippi and Nebraska
– Expensive real estate markets of San Francisco, San Jose, and Seattle have lowest delinquency rates
– However, early-stage delinquencies (6 months after loan closes) are rising"

With all the lending laws and appraisal changes Mortgages are harder to get and there is less foreclosures. The Job market is strong with very low unemployment, basically people have money! Much better grading of paper to sell on the open market for these mortgages. This all adds up to great borrowers. 

With delinquencies down that will also put pressure on home prices that have low inventory and in good areas. 

"HOW MUCH OF YOUR HOME DO YOU OWN?

– Nearly 44m homeowners have more than 20% equity in their home
– $5.982 trillion in tappable equity
– (Tappable means your total outstanding home loans don’t exceed 80% of your home’s value)
– $54b in equity tapped in Q1 2019, the lowest share of total equity since 2008"

Equity is wealth that is not taxed until you sell the home. There is a lot of tax free money when you sell if you have lived there the last two out of five years (check with your tax professional). 6 Trillion dollars is a lot of money that is basically parked in the home value in America. 

With the home values and wages going up now is the time to sell your home if you want to cash in on your equity. Home values will continue to rise with the low inventory and trying to catch up on medium home new builds. Remember 2008-2016 there where almost no new home builds in medium income, we had 8 years of no new housing. 

All this says is that the future looks very good and it may be time to sell your home. We have a great Full Service Flat Fee Listing Package for Cleveland and Phoenix call me I'm Brett 216-703-5740 Icon Agent at EXP Realty Ohio and 602-363-6551 EXP Realty Arizona.

Get me your FLAT FEE Full listing Package FREE 

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