Real Estate Market

Homeowner News

National Real Estate Update

 

Note: June 2019 data below are the most recent released by the National Association of Realtors.

Existing-home sales rebounded in May, recording an increase in sales for the first time in two months, according to the National Association of Realtors®. Each of the four major U.S. regions saw a growth in sales, with the Northeast experiencing the biggest surge last month.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June. Sales as a whole are down 2.2% from a year ago (5.39 million in June 2018).


National Association of Realtors June 2019 DataNAR's chief economist, Lawrence Yun, said the nation is in the midst of a housing shortage and much more inventory is needed. “Home sales are running at a pace similar to 2015 levels – even with exceptionally low mortgage rates, a record number of jobs and a record high net worth in the country." "Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices.”

 

The median existing-home price for all housing types in April reached an all-time high of $285,700, up 4.3% from June 2018 ($273,800). June’s price increase marks the 88th straight month of year-over-year gains.

Total housing inventory at the end of June increased to 1.93 million, up from 1.91 million existing-homes available for sale in May, but unchanged from the level of one year ago. Unsold inventory is at a 4.4-month supply at the current sales pace, up from the 4.3 month supply recorded in both May and in June 2018.

Properties typically remained on the market for 27 days in June, up from 26 days in May and in June of 2018. Fifty-six percent of homes sold in June were on the market for less than a month.

Per Freddie Mac data, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 3.80% in June, down from 4.07% in May. The average commitment rate across all of 2018 was 4.54%.

First-time buyers were responsible for 35% of sales in June, up from 32% the month prior and up from the 31% recorded in June 2018.

 

 

How's your Selling Strategy??

Sellers, you have an excellent opportunity to sell your home this season -- if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale.

It is very important to price your property at competitive market value at the signing of your listing contract. In some places, the market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell. And in some of today's particularly hot markets where we're seeing bidding wars, you still want to work with your agent to set the right starting price from the outset to give yourself every advantage.

An Overpriced Home:
· Minimizes offers
· Decreases agents response
· Limits qualified buyers
· Decreases showings
· Decreases prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller

When you are ready, contact us today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

 

 

 

 
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Can't miss Omaha events this weekend!!

Do you have plans this weekend? If so, do they include a walking food tour, summer concert series, comedy show, night hike, backstage aquarium tour, yoga in the forest, ghost tour, balloon and wine festival, farmers market, and/or back to school events? If not, you are in the right place! We have listed these and other fun events and adventures that are happening in and around our beautiful city of Omaha, NE below for you to check out. Grab your family and friends for some serious fun this weekend and enjoy all that the area has to offer! Enjoy! 

What: Back-to-School Bash
When: August 9th
Where: Durham Museum | 801 S 10th Street Omaha, NE

What: Attic Adventures
When: August 9th – 11th
Where: Omaha Children’s Museum | 500 S 20th Street Omaha, NE

What: Blackstone Walking Food Tour
When: August 9th
Where: 3804 Farnam Street Omaha, NE

What: Bridge Beats Summer Concert Series
When: August 9th
Where: Bob Kerrey Pedestrian Bridge | 705 Riverfront Drive Omaha, NE

What: Comedy in Omaha
When: August 9th & 10th
Where: The Backline Comedy Theatre | 1618 Harney Street Omaha, NE

What: Fossil Fridays
When: August 9th
Where: Durham Museum | 801 S 10th Street Omaha, NE

What: Garth Williams: Illustrator of the Century
When: August 9th – 11th
Where: Joslyn Art Museum | 2200 Dodge Street Omaha, NE

What: Midwest Paranormal History/Ghost Tour
When: August 9th & 10th
Where: Midwest Paranormal History Tours | Various Locations

What: Nebraska Balloon & Wine Festival
When: August 9th & 10th
Where: 2201 South 13th Street Elkhorn, NE

What: Rockbrook Village Friday Night Concert Series
When: August 9th
Where: Rockbrook Village Shopping Center | 2800 S 110th Ct. Omaha, NE

What: Space: Humanity’s Longest Journey
When: August 9th – 11th
Where: 28210 W Park Hwy Ashland, NE

What: CultureCon Music Festival
When: August 10th
Where: 233rd and West Maple Elkhorn, NE

What: Night Hike
When: August 10th
Where: Fontenelle Forest/Neale Woods | 1111 N Bellevue Blvd. 

What: Behind the Scenes: Aquarium Backstage Pass
When: August 10th
Where: Omaha’s Henry Doorly Zoo and Aquarium | 3701 S 10th Street Omaha, NE

What: Old Market Walking History Tour
When: August 10th
Where: 1001 Farnam Street Omaha, NE

What: Omaha Farmers Market – Old Market
When: August 10th
Where: 11th and Jackson Streets Omaha, NE

What: Public Sightseeing Cruises
When: August 10th & 11th
Where: River City Star Riverboat | 151 Freedom Park Road Omaha, NE

What: Jay Heikes
When: August 9th – 11th
Where: Joslyn Art Museum | 2200 Dodge Street Omaha, NE

What: Billy McGuigan’s Rock Twist
When: August 9th – 11th
Where: Omaha Community Playhouse | 6915 Cass Street Omaha, NE

What: Tyrannosaurs: Meet the Family
When: August 9th – 11th
Where: Durham Museum | 801 S 10th Street Omaha, NE

What: Yoga in the Forest
When: August 10th
Where: Fontenelle Forest/Neale Woods | 1111 N Bellevue Blvd. 

What: One Community Cultural Festival
When: August 11th
Where: 2285 S 67th Street Omaha, NE

What: St. Timothy’s Parking Lot Party
When: August 11th
Where: 510 N. 93rd Street Walters Omaha, NE

What: Wicked Omaha Walking Tour
When: August 11th 
Where: History Walks LLC | 10th & Farnam Omaha, NE

What: Sunday Yoga in the Forest
When: August 11th
Where: Fontenelle Forest/Neale Woods | 1111 N Bellevue Blvd.

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Contact Information

Photo of Heim-Berg Team Real Estate
Heim-Berg Team
Berkshire Hathaway
13340 California Street
Omaha NE 68154
(402) 677-9024
402-679-7108
Fax: 402-493-4805

 

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