Buyers Start Your Engines: The Real Estate Market is Operating on All Cylinders

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Thanks to robust demand and an ample supply of homes for sale, the U.S. residential real estate market is operating on all cylinders. In fact, Realtor.com calls it the "best buying season since 2006." 

"Although demand has been strong all year, in June we're finally beginning to see an uptick in supply as sellers become more confident about home prices," said Jonathan Smoke, chief economist at Realtor.com. 

Realtor.com also reports that first-time buyers are lining up to buy new homes. 65% of older Millennials (ages 25-34) say they expect to buy a home within three months - up 12% from the start of 2015. The "hottest" markets include San Francisco, Denver, Dallas, and Boston, the company states. Additionally, the median list price increased to $233,000, up 7% year-over-year and up 2% on a month-to-month basis. 

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Keith Kaplan

CalBRE #01933707
Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA   90069

keith.kaplan@sothebyshomes.com

310-646-7791

 

 

 

 

 

 

 

 

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