Archives: May 2015

US Pending Home Sales Rise for Third Month in a Row

home buying 18We have some excellent news to report from the national housing market: Evidently US pending home sales index increased for the third straight month in April.

This is a great testament that the national housing market is getting back on track and becoming increasingly stable.

If you’re considering entering the market anytime soon as a buyer or seller, we encourage you to continue reading to learn more about this new trend.

The Latest Outlook from the Housing Market is Positive

Let’s take a closer look at the recent report from the National Association of Realtors.

According to recent data, the pending home sales index (which is based on contract signings for purchases of previously owned homes) increased 1.1 percent to a seasonally adjusted level of 108.6 in March.

This is also higher than in February, when the level was 107.4.

And evidently, the increase in the home sales index is higher than many economists surveyed by the Wall Street Journal thought it would be. They had expected the increase to be 1 percent.

Here are some additional highlights from the recent report:

  • When comparing March 2014 to March 2015, the index increased 11.1 percent.
  • Completed existing-home sales increased 6.1 percent in March. This increase followed two months in which the gains were lackluster.
  • And although sales of newly built single-family homes decreased from February to March, they increased almost 20 percent from the sales pace of a year ago.
  • The average interest rate for a 30-year fixed-rate mortgage was 3.77 percent in March, which is slightly above the previous month but also down from a year earlier.
  • And pending sales of existing homes increased in the South and the West during the month of March, but decreased in the Northeast and Midwest.
  • Meanwhile, markets across the country are seeing home prices increase.

Experts believe that low housing inventory have driven prices up on existing homes. And while that has helped to close the gap in cost between newer homes (which are typically more expensive) and previously-owned homes, existing home sales still account for roughly 90 percent of the overall market.

Will These Positive Housing Market Trends Continue?

Check back with us soon to see if national real estate activity continues on this upward trend or takes a dip.

Having the most up-to-date market data is critical to ensuring a successful outcome as a buyer or seller. That’s why we hope you’ll check back here again soon for the most up-to-date information on the market possible.

Look For Thomas & Company in the Upcoming New Albany Founder’s Day Parade!

CalendarWhat an honor! We recently found out that we have been given the opportunity to walk in the New Albany Founder’s Day Parade on May 16!

This local parade is a time-honored tradition here in New Albany and so we are humbled that we get a chance to be a part of it.

Continue reading to learn more about this upcoming parade and what you can expect to see if you attend!

The 411 on the Upcoming New Albany Parade

Held every year, the New Albany Founder’s Day celebrates the inception of our incredible community.

Founded in 1837, the Village of New Albany has seen immense growth in the last two decades in particular as local leaders have focused on making this a great place to not only live but also to work and play as well. The Village became a City in 2011!

This year’s event (which, by the way, marks the 40th anniversary) will actually kick off with a mini-concert by the New Albany Chorus at Main Street and High Street.

Then, the parade starts at 11 a.m. Parade floats enter at Dublin-Granville Road and Morgan Road, although probably the best place to stand as a spectator will be Main Street and High Street because a parade emcee booth will be located there.

Check out this online map for a look at the complete parade map and to plan your excursion on Founder’s Day.

Ultimately, the parade will end at the New Albany 2-5 Elementary School at 87 North High Street.

This year is sure to be a stand-out one, especially given all of the sponsors that have contributed to bring the parade to life. These companies include The City of New Albany, New Albany Chamber of Commerce, Plain Township, New Albany-Plain Local Schools, Chi Thai Restaurant and Mint Family Dental.

Meanwhile, Robert & Debbie Dean will serve as the 2015 Parade Grand Marshals.

Here a quick recap of the most important details you should know:

  • When: 10:45 a.m. for the mini-concert, 11 a.m. for the parade
  • Where: Main Street and High Street
  • More Information: Visit The Founders Day Site.  And once again, you can also view the Parade Route map.

We Hope To See You at the Parade on May 16!

We hope you have a chance to check out the Founder’s Day festivities (including the parade!) on May 16. We think it’s sure to be a fun and memorable day for the whole family!

If you do end up attending and you see us, please be sure to wave Hello. We would be thrilled to see you.

And remember: As your dedicated New Albany real estate experts, we always enjoy the opportunity to help people realize their dreams on the real estate market. So contact us today if you’re considering buying or selling a New Albany area home anytime soon, make sure to contact us for assistance.

Until next time,

Thomas & Company

5 Baby Boomer Housing Market Trends to Watch

boomersRegardless of where you live, experts are expecting that Baby Boomers will have a major impact on the local housing market.

That’s because this sizeable portion of the population is comprised of 76.4 million individuals. And many of them are expected to make major moves over the next several years as they continue to retire.

To that effect, we wanted to share with you the top 5 Baby Boomer real estate trends to watch for in the coming months and years.

The Top 5 Real Estate Trends for Baby Boomers

Although many Baby Boomers plan to move to the Sunbelt when they retire, others may be motivated by different factors.

For instance, some may be motivated by staying closer to families. Others may be looking for the least expensive place to live. Still others may be more interested in moving to a place with a high quality of life for seniors.

Thus, regardless of where you live, it’s important to consider the following Baby Boomer trends:

Boomers want to pay off their mortgage. Many Baby Boomers own their own home. They’ve been paying a mortgage for decades. Thus, one of their primary goals is going to be to finally pay off the mortgage and own their home outright. In fact, for many, paying off the mortgage is a crucial consideration before they’re willing to retire.

They want more convenience. This may look like a smaller home with less maintenance and less work, but it may not. Baby Boomers also care about living in homes that have modern appliances, energy-efficient doors and other features that will make their life easy. As such, many are also opting for one-story homes because of their bad knees, bad hips, etc.

Baby Boomers want a walkable neighborhood. They’ve already spent a lot of time in their car, what with commuting to work, taking their kids to and from hobbies, etc. So now they’re trying to get back to simpler times, where they lived just a couple of blocks from the grocery store or the local restaurant. They want to be able to access the amenities they want and need without having to always get in the car.

They want to remain on their own. In fact, according to a Merrill Lynch survey, only 10 percent of Baby Boomers say they want to move into any kind of retirement or age-restricted community. Instead, they want to stay in their own homes, in their own neighborhood nad have their own friends.

Baby Boomers want to stay close to their loved ones. This is also a high priority for residents. They not only want to be close to their children, but also their grandchildren as well. Proximity to loved ones is certainly key with this segment of the population.

We’re Your #1 Source for National Real Estate Trends

We hope you’ve learned something new after reading today’s real estate blog. The Baby Boomers will undoubtedly have a huge impact on the real estate market as they prepare for where they want to live their Golden Years.

Please check back here soon to learn about more trends that may impact your local housing market.