The global Real Estate market has been undergoing tremendous turmoils recently, so grab your drink and keep abreast of some major breakdowns with RevinaShare.
Housing Inventory in U.S’s Fall to New Lows
It is reportedly indicated that inventory grew year-over-year in each month between September 2018 and February 2019. However, those modest gains were wiped out during this year’s home shopping season – as inventory has fallen to its lowest level since at least 2013.
The inventory buildup and subsequent reversal was especially severe among the bottom tier of homes. Inventory growth among this group of homes reached 6.7% in October 2018, but fell 10.3% annually in September 2019. Buyers looking for homes in this price range are also less likely to see listings with a price cut – 12.7% of bottom-tier homes had a price cut in September, compared to 15.7% of middle-tier homes and 17.3% of top-tier homes.
U.S. annual home value growth witnessed the lowest level since April 2013 with a fall to 4.8% year-over-year. However, the annualized rate of quarterly growth accelerated once again to 4.3%, which is an obvious indicator of a turning point after a sustained cooling-off period.
Home values fell again in San Jose (down 10.7% year-over-year) and San Francisco (down 2.5%). Indianapolis (up 8.1%), Austin (up 7.6%) and Charlotte (up 7.1%). Rents rose 2.2% from a year ago to $1,597. Infact, rents are growing the fastest in Las Vegas (up 6.4% year-over-year) and Phoenix (up 6.2%), but were flat in Houston.
Mortgage rates listed on Zillow fell in September which dropped as low as 3.53% on September 4 before recovering somewhat to end the month at 3.64%. This was 16 basis points lower than a peak of 3.8% on September 2.
2020 Color Forecast: The Rise of Blues and Greens
A Lighter Side of Green:
Behr’s top pick for 2020 is a meadow-inspired green called “Back to Nature”. The yellow-based hue aims to give the illusion of bringing the outdoors inside, whether splashed on a living room wall or bedroom throw pillow.
A Brighter Blue:
Blue can be used as an accent color or a neutral shade. It can be used as a feature color in a bedroom when set against crisp, white bedding and crown molding for a sharp contrast, PPG notes. Or, it can be used in the living room for a modern look.
Blue shades are being layered with tufted and velvet furniture or paired with metallic finishes. The shade is a blend of cobalt and muted navy tones. Blues have been growing in popularity—even as a trending color for kitchen cabinetry—over the past year.
Other paint firms like Pantone have yet to release their 2020 color picks. But a pattern of nature-inspired hues and blues seem to be common among color forecasters. Colors inspired by the ocean are a big trend for 2020, and that doesn’t just mean blue but a variety of sea tones, according to the Color Institute.
Via Nar Realtor
Remodeling Impact: A concise report on top three joy score projects and top turn-on-investment project
Top three joy score projects including kitchen renovation, closet renovation and full interior paint job have showcased remarkably outstanding results with 46% and 56% better functionality and livability for kitchen renovation and closet renovation respectively.
Having achieved 29% beauty and aesthetics, full interior paint job deserves shockingly high joy score 9.8 while the incredible maximum 10 goes to kitchen renovation and closet renovation.
Likewise, the percentage of value recovered is what most realtors take into consideration. New roofing, new hardwood floors and refinished hardwood floor were ranked top 3 turn-on-investment project when being able to yield 107%, 106% and 100% of value recovered – which is notably remarkable.
Via Nar Realtor
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