Real Estate Market

Homeowner News

National Real Estate Update

 

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

Existing-home sales inched up in August, marking two consecutive months of growth according to the National Association of Realtors®. Three of the four major regions reported a rise in sales, while the West recorded a decline.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) rose 1.3% from July to a seasonally adjusted annual rate of 5.49 million in August. Overall sales are up 2.6% from a year ago (5.35 million in August 2018).


National Association of Realtors August 2019 DataLawrence Yun, NAR’s chief economist, attributed the increase in sales to falling mortgage rates. “As expected, buyers are finding it hard to resist the current rates,” he said. “The desire to take advantage of these promising conditions is leading more buyers to the market.”

The median existing-home price for all housing types in August was $278,200, up 4.7% from August 2018 ($265,600). August’s price increase marks the 90th straight month of year-over-year gains.

Total housing inventory at the end of August decreased to 1.86 million, down from 1.90 million existing-homes available for sale in July, and marking a 2.6% decrease from 1.91 million one year ago. Unsold inventory is at a 4.1-month supply at the current sales pace, down from 4.2 months in July and from the 4.3-month figure recorded in August 2018.

Properties typically remained on the market for 31 days in August, up from 29 days in July and in August of 2018. Forty-nine percent of homes sold in August 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 3.62% in August, down from 3.77% in July. The average commitment rate across all of 2018 was 4.54%.

First-time buyers were responsible for 31% of sales in August, down from 32% in July and equal to the 31% recorded in August 2018. 

 

 

Make your OFFER count!!

Before making an offer on a home in today's competitive housing market, it is more important than ever for homebuyers to get their financial house in order when applying for a loan.

While there are online resources available that can provide a sense of one's overall financial position, be sure to review your credit report in person with your mortgage professional and get pre-approved for a loan before making an offer on a home.

A little preparation goes a long way and can make a big difference when it comes to closing on your dream home. Contact us today to get the right loan for your current needs!

 

 

Can't miss October events in Omaha!!

With cooler weather on the way, there is no denying that Fall is in full swing. Below we have listed a few Can't-miss events happening in and around Omaha, NE this weekend for you to check out while enjoying the colder temperatures. You will find everything from music concerts and plays, to spooky Halloween events, children’s activities, farmer's markets, aquarium adventures and much more! 

What: Phil Collins Still Not Dead Yet, Live!
When: October 11th
Where: CHI Health Center Omaha | 455 N 10th Street Omaha, NE

What: Rocky Horror at the Castle
When: October 11th
Where: 3902 Davenport Street Bello Omaha, NE

What: Annie
When: October 11th – 13th
Where: Omaha Community Playhouse | 6915 Cass Street Omaha, NE

What: Blackstone Walking Food Tour
When: October 11th
Where: 3804 Farnam Street Omaha, NE

What: Cobweb Castle
When: October 11th – 13th
Where: Omaha Children’s Museum | 500 S 20th Street Omaha, NE

What: Ghouls & Glow
When: October 11th – 13th
Where: 3701 S 10th Street Omaha, NE

What: The Cat in the Hat
When: October 11th
Where: 2001 Farnam Street Omaha, NE

What: Annual Peace Conference 2019
When: October 12th
Where: 3647 Lafayette Ave Welsch Omaha, NE

What: Dark Sense: An Evening of Mystery
When: October 12th
Where: Apollon | 1801 Vinton Street Omaha, NE

What: Brass & Voices at the Movies
When: October 12th
Where: 2825 Y Street Omaha, NE

What: Night Hike
When: October 12th
Where: Fontenelle Forest/Neale Woods | 1111 N Bellevue Blvd. 

What: Trick-or-Treat in the Forest
When: October 12th
Where: Fontenelle Forest/Neale Woods | 1111 N Bellevue Blvd. 

What: The Met Live in HD: Turandot
When: October 12th
Where: Film Streams at the Ruth Sokolof Theater | 1340 Mike Fahey St Omaha, NE

What: Behind the Scenes: Aquarium Backstage Pass
When: October 12th
Where: Omaha’s Henry Doorly Zoo and Aquarium | 3701 S 10th Street Omaha, NE

What: Diggin’ Dinos
When: October 12th & 13th
Where: Omaha Children’s Museum | 500 S 20th Street Omaha, NE

What: Game Day at The District
When: October 12th
Where: 1022 Capitol Ave Omaha, NE

What: Omaha Farmers Market – Old Market
When: October 12th
Where: 11th and Jackson Streets Omaha, NE

What: WeBop at Omaha Performing Arts
When: October 12th
Where: 1200 Douglas Street Omaha, NE

What: Yoga in the Forest
When: October 13th
Where: Fontenelle Forest/Neale Woods | 1111 N Bellevue Blvd. 

What: Word and Image: The Saint John’s Bible
When: October 11th -13th
Where: Joslyn Art Museum | 2200 Dodge Street Omaha, NE

What: Prospect Hill Cemetery Guided Historical Walking Tour
When: October 13th
Where: Prospect Hill Cemetery | 3202 Parker Street Omaha, NE 

What: ‘Radium Girls’ Performance
When: October 11th – 13th
Where: 900 N Clarkson Street Freemont, NE

Make sure to follow us on Facebook for great new events coming to the Omaha area!

Share This Page

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

 

©2015 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices Ambassador Real Estate and the Berkshire Hathaway HomeServices Ambassador Real Estate symbol are registered service marks of HomeServices of America, Inc®. Equal Housing Opportunity. Equal Housing Opportunity Realtor License