Housing Market Updates - Long Island Real Estate

Epic Housing Shortage Being Reported

July 12, 2017July 6, 2017 by Glen Hagen

The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study. The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new […]

Existing Home Sales Surge into Summer [INFOGRAPHIC]

April 29, 2026June 30, 2017 by Glen Hagen

Some Highlights:

Existing Home Sales reached their third highest mark this year in May.
Inventory of homes for sale has dropped 8.4% since last year, marking the 24^th consecutive month of year-over-year declines.
NAR’s Chief Economist, Lawrence Yun had this to say: “Those able to close on a home last month are probably feeling both happy and relieved. Listings in the affordable price range are scarce, homes are coming off the market at an extremely fast pace and the prevalence of multiple offers in some markets are pushing prices higher.”

The Supply & Demand Problem Plaguing New Construction

April 29, 2026June 21, 2017 by Glen Hagen

Many real estate economists have called on new home builders to ramp up production to help relieve the shortage of inventory of homes for sale throughout the United States. The added inventory would no doubt aid buyers in their search to secure their dream home, while also helping to ease price increases throughout the country. […]

Buying Is Now 33.1% Cheaper Than Renting

June 19, 2017June 19, 2017 by Glen Hagen

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all […]

Are Home Prices Approaching Bubble Territory?

June 15, 2017June 15, 2017 by Glen Hagen

As home values continue to rise, some are questioning whether we are approaching another housing bubble. Zillow just reported that: “National home values have surpassed the peak hit during the housing bubble and are at their highest value in more than a decade.” Though that statement is correct, we must realize that just catching prices […]

The TRUTH Behind the RENT vs. BUY Debate

June 14, 2017 by Glen Hagen

In a blog post published last Friday, CNN’s Diana Olnick reported on the latest results of the FAU Buy vs. Rent Index. The index examines that entire US housing market and then isolates 23 major markets for comparison. The researchers at FAU use a “‘horse race’ comparison between an individual that is buying a home […]

Which Homes Have Appreciated the Most?

May 1, 2026March 16, 2017 by Glen Hagen

Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year.

Thinking of Selling? Do it TODAY!!

March 7, 2017March 7, 2017 by Glen Hagen

That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!