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The numbers don’t lie: Americans are growing increasingly confident about the overall health of the national real estate market, according to a recent report.

Evidently, a recent Gallup poll showed that 56 percent of Americans expect average home prices in their area to increase, which is up 33 percent from just two years ago.

And it’s markedly increased from the low point of 21 percent in January 2011.

How The Recent Poll Was Conducted

Gallup conducted interviews between April 3 and 6 with a random sample of 1,026 adults, ages 18 and older.

These respondents lived in all fifty states as well as the District of Columbia.

These telephone interviews were conducted on cell phones and landlines and were conducted in English and Spanish.

What Do The Numbers Show About American Perceptions of the Market?

The latest poll numbers from Gallup’s annual Economy and Personal Finance poll indicate that Americans are feeling increasingly confident about the market.

Here are some of the highlights of the poll results:

• Between 2008 and 2011, Americans were more likely to expect local home values to decrease rather than increase.
• Then, in April 2012, optimism about home values started to outweigh pessimism 33 percent to 23 percent.
• Now, more than five times as many citizens believe home values will increase compared to decrease (56 percent to 10 percent).
• People living out west are most likely to think home values will increase, with 72 percent of respondents.
• Comparatively, about 44 percent of Americans living in the East expect home prices to increase.
• These figures are compared to 54 percent of Southerners and 53 percent of Midwestern residents believing that home prices will increase.
• The poll also showed that 64 percent of Americans are homeowners, with 74 of those people saying that their home is now worth more than when they bought it.
• Still, these numbers aren’t as high as they were during the real estate peak in 2006 and 2007, when 90 percent of home owners said their home value exceeded purchase price.
• 74 percent of Americans say it’s a good time to purchase a home, compared with 24 percent who say it’s a bad time.
• The poll also showed that homeowners are more likely than renters to say it’s a good time to buy a house, with 81 percent of home owners and 60 percent of renters saying that.

Experts are encouraged by the recent data because it suggests that fewer home owners are underwater and more people are interested in entering the market and investing in property. This has long-term benefits to the overall health of the market.

Your Epicenter for National Real Estate News

We believe that providing up-to-date information to buyers and sellers is paramount to ensuring them a successful outcome on the real estate market.

Check back here in a couple of weeks for more relevant updates on the current state of the national housing market and to learn what kind of effects that activity is likely to have on buyers and sellers.

Corelogic just released some exciting news from the national housing market: Home prices are back on the rise!

The real estate data provider reported that home prices increased 0.9 percent in January after falling 0.1 percent in December.

And this is indicative of a larger trend, Corelogic reported. After all, over the last 12 months, prices have actually risen a total of 12 percent, which is the biggest year-over-year gain in over eight years!

Home sellers are sure to be encouraged by this recent development because it means that they have a better chance of getting the price they want for their property.

Housing Market Gaining Strength, According to Recent Data

Here’s an overview of recent activity on the national housing market:

• Although home prices increased, total home sales actually dropped in January. The National Association of Realtors reported that sales dropped to their lowest level in 18 months.
• However, the total number of available homes for sale remained low, which is why experts believe prices increased, at least in part.
• The average rate on a 30-year mortgage showed a 1 percent year-over-year increase, which means that home buying costs are a little higher.
• Meanwhile, builders started working on 16 percent fewer homes in January when compared to December. That marks the second straight month for decline.
• Despite recent increases, national home prices are still 17 percent lower than when they were at the peak of the housing market bubble in April 2006.
• In three states (Louisiana, Nebraska and Texas), prices have set highs. Meanwhile, in 19 additional states, prices are within 10 percent of their peaks.
• Those states with the largest year-over-year price gains in January were: Nevada (up 22.2 percent), California (up 20.3 percent), Oregon (up 14.3 percent), Michigan (up 13.7 percent) and Georgia (up 13.4 percent).
• Mississippi was the only state to show declines in home prices.

Homes With Negative Equity are Decreasing

Also recently, Core Logic reported that a total of 4 million U.S. homes returned to positive equity in 2013.

This means that the total number of mortgaged residential properties in the country is now at 42.7 million!

Meanwhile, roughly 6.5 million homes (or about 13.3 percent of all mortgaged homes in the country), still had negative equity by the end of 2013.

The decrease in homes with negative equity is another piece of good news for home sellers because it means that home prices throughout the community will be on the rise!  And that is sure to affect the price they can get for their own property.

Your One-Stop Shop for National Real Estate News

Check back to our website on April 1 for more pertinent national real estate news that affects you.

After all, one of the keys to ensuring a successful outcome on the local housing market is to enter it as an informed and prepared buyer or seller.

I can’t believe it is already 2014. You know what they say, “Time flies when you’re having fun.” And we had a lot of fun in 2013. Our market is seeing strong signs of recovery, just like the overall economy. The number of sales in the Tulsa area were up 8.9% and our inventory is coming down. It dropped a total of 17% from the end of 2012. Prices are slowly recovering as well and should continue for the near and distant future. As I have mentioned before, Real Estate cycles are generally 8 to 12 years in length. We bottomed out in 2011 and started to recover in 2012 and should continue appreciating at a steady rate for the next decade or so unless the sky falls. Most analysts are saying this will be a fantastic year for the Real Estate experts that understand the market and for both buyers and sellers.

Year of the Millennial Buyers

2014 is also being labeled the move up buyer year and the millennial year. For the last 5-6 years, we have had many sellers that could not sell without bringing money to the closing table. There is a lot of pent up demand and the recovery should stimulate lots of moving. The millennial, those born after approximately 1980 are reported to be 90 million strong. They have also been waiting for the economy and Real Estate market to recover. They are ready to buy.

Ready for a Seller’s Market?

As inventory continues to shrink and buyer demand continues to rise, we will move into a strong seller’s market. Rents will increase as well because of the decline in our normal new construction starts during the bust.

Effect of Interest Rates

Interest rates are predicted to go above 5% this year but that should not affect the recovery. In the past 30 years, we had 4 major interest rate spikes and every single time, values continued to climb. The downside is that it will affect affordability for all of our buyers.

We’re Here To Help

If you need any additional data or general information about the market, don’t hesitate to contact us to determine what is best for you. We are here to educate and communicate so you can make the best decisions for yourself and your family.

Related News

Paul Wheeler discusses outlook for 2014 in Tulsa World online newspaper.

The economic recovery is not just confined to one region of the United States, according to a recent news article.

Evidently, a recent report from the U.S. Conference of Mayors noted that almost every city in the country is expected to see economic growth in the New Year!

This is great news for everyone because it shows that our economy continues to strengthen after the recent recession.

Why You Can Expect Great Things in 2014

According to the recent report from the U.S. Conference of Mayors, most cities in the US are expected to see economic growth and job gains in 2014.

Here are the cities that are expected to lead the pack:

• Naples, Florida
• Raleigh, North Carolina
• Atlanta, Georgia
• Austin, Texas

What’s more, those cities who were severely affected by drops in manufacturing or by the housing market crash are also expected to see gains in the new year:

• Youngstown, Ohio is expected to see economic growth of 1.6 percent
• Buffalo, New York is expected to see economic gains of 1.5 percent
• Shreveport, Louisiana is expected to grow by 1.6 percent, after the community saw a 5.2 percent decrease last year.

Experts say that part of the key to economic growth has been the stabilization of housing. Job growth has also helped to encourage spending.

They noted that college towns (such as Lawrence, Kansas or Austin, Texas) are expected to make strong gains while the larger cities (like New York and Chicago) are expected to see more modest growth.

Here are some more highlights of the recent report:

• 340 of 363 metro areas will see economic growth by at least 1 percent.
• Last year, only 183 metro areas saw such growth.
• In addition, experts predict that 69 of those 363 metro areas will see growth exceeding 3 percent.
• And only seven of the 363 metro areas will probably not see economic growth, according to the report.
• While that’s unfortunate, it’s still exceptionally better than last year when 97 metro areas didn’t see growth.

A New Year, A New Economy

With a New Year comes new opportunity. We’re thrilled to know that the local economy in almost all major US cities is expected to grow in the coming year.

Check back here soon to learn about more about national trends that may affect your efforts as a home buyer or seller.

Experts emphasized recently what they’ve been saying for weeks: The US housing market will show even better gains in 2014.

Evidently, experts believe that it will be a good year for housing, despite the fact that sales are likely to level off slightly.

Those interested in buying and selling real estate in the US in 2014 will surely find the following information helpful as they navigate the market!

Good News for US Homes for Sale

Here’s the outlook for the US housing market, according to a recent article I was reading:

• Interest rates on 30-year mortgages are expected to rise above 5 percent by midyear. Currently, the national average is about 4.5 percent.
• Home prices are expected to increase 5 to 6 percent in 2014, which is about half of what it was in 2013.
• New home construction is expected to show immense growth in 2014, which is great for the homebuilding industry as well as those buyers looking for more options.
• The number of foreclosed homes has dropped significantly in the last several months, suggesting that the foreclosure crisis is nearing an end.

In a related article, CoreLogic reported a similarly optimistic outlook for 2014, especially given the most recent data available.

Citing November 2013 data, CoreLogic reported that:

• Home prices increased 0.1 percent from October to November.
• Home prices rose11.8 percent between November 2012 and November 2013,
• 2013 represented the best year for housing since the financial crisis.
• When all was said and done, home prices increased about 11.5 percent in 2013, which was the biggest gain since 2005.
• And sales of existing homes reached 5.1 million in 2013, the National Association of Realtors said.  That’s an increase of 10 percent from the previous year.
• That figure is also the highest it’s been since 2006.
• CoreLogic said that, after talking with several economists, they expect sales and prices to continue rising this year, albeit at a slower pace.

Those markets that are expected to be the “hottest” in 2014 include:

• Salt Lake City, Utah
• Seattle, Washington
• Austin, Texas
• San Jose, California
• Miami, Florida
• Raleigh, NC
• Jacksonville, Florida
• San Diego, California
• Portland, Oregon
• Boston, Massachusetts

Buying and Selling US Real Estate

Hopefully it will be a great year for the national housing market. One thing is for sure: It will be an improvement from the year before!

Check back here soon for more pertinent information on the current state of the national housing market!