Top Markets with Greatest Seller Gains in 1st Quarter
ATTOM Data Solutions just released its Q1 2019 Home Sales Report and the data shows that U.S. homeowners who sold in the first quarter of 2019 realized an average home price gain since purchase of $57,500, up from an average gain of $56,733 in Q1 2018.
The market to top the dollar gains for sellers occurred in San Jose with home sellers seeing almost a half-million gain ($479,500). Markets to follow included San Francisco, Los Angeles, Long Beach, Thousand Oaks and then Honolulu.
New Poll Finds Half of Americans Cannot Afford to Live Near
Better Schools & Childcare
In a recent pulse poll, 46% of American adults said they would prefer to live in a community with access to better schools and/or childcare, but cannot afford to do so; while 58% say communities with better job opportunities are too expensive for them to live in.
To identify innovative solutions to this housing affordability crisis, Fannie Mae (FNMA/OTCQB) announced a Call for Ideas that expand access to and increase the supply of quality affordable housing, and use housing as a lever to improve education outcomes and economic mobility for low-income households.
“When nearly 6 in 10 Americans have to sacrifice economic opportunities and nearly half have to sacrifice quality education and childcare because of housing affordability, it’s clear we need to bring new ideas to the marketplace,” said Maria Evans, Vice President of Sustainable Communities, Fannie Mae.
“Through the Sustainable Communities Initiative, Fannie Mae aims not only to create stability through housing, but also to catalyze opportunities in education and forge pathways to economic mobility.” For more information about The Challenge and to apply, please visit FannieMae.com/TheChallenge.
The most popular areas where Millennials are moving…
The National Association of Realtors analyzed employment gains, population trends, income levels and housing conditions in the largest 100 metropolitan statistical areas across the country to identify the best purchase markets for millennial homebuyers.
The current study defines Millennials as those born from 1980 to 1998. Thus, the oldest Millennials will turn 39 this year while the youngest will turn 21.
The top 10 metro areas NAR identified were chosen for their above average share of current millennial residents and recent movers, favorable employment opportunities and relatively low qualifying incomes needed to purchase a home. Here they are:
Bakersfield, CA; Denver, CO; Durham, NC; El Paso, TX; Grand Rapids, MI; Madison, WI; Oklahoma City, OK; Omaha, NE; Salt Lake City, UT; and Seattle, WA. (listed in alphabetical order)
April Sales Statistics in the Bay Area and the Central Coast
Interestingly enough not much has changed, just a slight uptick in sales in the larger areas IE: San Jose, Santa Cruz, Salinas. It is still amazing how the median price continues to climb in the highest priced areas as days on market declines. The list to sales price ratio seems to have dropped a bit due to the springtime bringing more buyers to the market.
Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.