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Christie Cannon

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Displaying blog entries 1-10 of 178

Where are Americans moving to?

by Christie Cannon

- Christie Cannon - Keller-Williams-Frisco

Experts weigh in on low inventory

by Christie Cannon

Keller Williams Frisco -  Housing Supply

The most common questions that I am asked over the last month relate to the continued decline in the inventory of pre-owned houses on the market.  While the last 30-days have seen an increase in supply, we still remain well below historic levels.

Natioanl experts have been weighing in on the lack of supply & the future of inventory in 2016:

Calculated Risk:

“Low inventory is probably holding down sales in many areas.”

Capital Economics:

“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales.”

Frank Nothaft, Chief Economist for CoreLogic:

“Many markets have experienced a low inventory of homes for sale along with strong buyer demand... These conditions are likely to persist as we enter 2016.”

Doug Duncan,Chief Economist at Fannie Mae:

“Several factors point to constrained housing affordability in 2016, particularly for first-time home buyers, including slow single-family supply response and limited inventory of starter homes on the market.”

Lawrence Yun, Chief Economist at NAR:

“Sparse inventory and affordability issues continue to impede a large pool of buyers’ ability to buy, which is holding back sales.”

While real estate is hyper-local, the national trends support what we have been seeing in our local market.  Buyer demand continues to out-pace supply in many areas & at many prices.  

 - Christie Cannon - KW Frisco

DFW housing continues despite oil & gas concerns

by Christie Cannon

Corporate growth & an influx of out of state buyers continue to sustain North Dallas' housing market growth.  Steve Brown of the Dallas Morning News wrote an excellent article expressing the positives of North Texas' continued growth, as well a continued concern of both buyers and builders with regards to the climbing prices.  With the full impact of corporate relocations (Toyota, State Farm, Charles Schwab, JPMorgan Chase, etc) not yet fully realized, the housing market is not likely letting up for the foresee able future.

- Christie Cannon of Keller Williams Frisco

Frisco Prices Since 2006 - see how they rise!

by Christie Cannon

Single-Family, Pre-Owned homes in Frisco reflected as average price.

Have a question or wish to see additional data?  Please give us a call!

Christie Cannon - 469-951-9588 - Keller Williams Frisco

CLICK HERE for larger version

Home Sales Bounce Back Despite Low Inventory

by Christie Cannon
  • December saw the highest month-over-month increase with existing Home Sales up alomost 15% over November.
  • The National Pre-existing Home Inventory remains below the historic norm with only a 4-months supply.
  • Year-over-year price gains continue with a 7.6% increase.

National Association of REALTORs December Existing Home Sales Report

by Christie Cannon

SmartAsset.com's Top 25 Safest Cities - TX Tops the Chart

by Christie Cannon

A few days ago I posted on Smartasset.com's Top Boomtowns from 2015.

Published in Nov, 2015, Smartasset released their top 25 list of the Safest Cities in America, Texas gracing 11 of the top 25 posts!

Our very own, Frisco TX makes the list at #10!

 

- Christie Cannon - Keller Williams Frisco

 

SmartAssets.com's Top 10 Boomtowns in 2015

by Christie Cannon

Once again, Texas (and especially North TX) boasts strong standing in a natioanl "Top 10" list.  

Smartasset.com just published their list of 2015 top 10 Boomtowns, with Texas holding 5 of the top 10 spots!

Holding top honors for Texas, the list finds:

 

  1. Richardson
  2. McKinney
  3. Austin
  4. Frisco
  5. Odessa
The entire list can be found here, as well as their methodology!
 
 - Keller Willams Frisco - Christie Cannon - 469-951-9588
 

Real Estate News: 5 Real Estate Trends in 2016

by Christie Cannon

Realtor.com & the National Association of REALTORs just posted their predictions for the top 5 industry trends in 2016.

 

  • A Return to Normal for Real Estate

In the words of Skywalker, "it will bring balance to the force."  While sales will continue strong, most markets will see a return to the more modest gains that are reflected in a balanced (& more sustainable) market.

  • Generational Data Supports Strong Selling Season in 2016 
In 2015, Millennial buyers represented almost 1/3 of home purchases.  This trend is expected to continue in 2016; as well as an expected return of financially recovering Gen-Exers & Baby Boomers.  According to the NAR, Gen-X buyers will be entering their "prime earning" years, just as Baby Boomers are tradtionally seeking to down size &/or relocate for retirement. More predictive analysis for 2016 (several years out) can be found here!
 
  • Builders will Transition to More Affordable Housing
As balance returns to pre-existing home sales and credit availability improves for first-time buyers, builders will see more attractiveness in building products to fill these niches.  Likewise, with the increased capital in the market from 2015, the direction of growth is already trending to the "out-skirts" of traditional suburb areas where land prices are more affordable.
 
  • Interest Rate Rise Will Affect the Higher-Price Markets
The FED has already increased interest rates this past month.  Additional increases are expected in 2016, with mortgage rates predicted to rise up to 60 basis points. As the rate increases, affordability will drop.  In areas where the move-up buyer is a significant part of the market, even a small "affordability" drop can have significant affect.
 
  • Rents Will Continue Their Rise (in some areas meteorically)
In more than 85% of market areas, the average rent to income ratio already exceeds 30%.  Demand aside, increases in property taxes & tax valuations result in double digit rent growth as those cost are passed from landlord to tenant.
 
 
- Christie Cannon - Keller Williams Frisco TX
 

Real Estate News: November Home Sale Drops

by Christie Cannon

The National Association of REALTOR has recently published their latest report on existing homes sales for November (likewise, they revised their October numbers).  The most recent report Existing Home Sales offers that preowned home sales:

“…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…”   The report reflects that November was the slowest in 19th months for existing home sales.  This was displayed in a 10.5% decrease in month-over-month sales. 


While there are still many hypotheses for the reasons of the drop, many industry insiders are placing a large portion of the blame on real estate’s adjustment to the latest changes in mortgage lending laws.   With these adjustments, the industry has seen an overall increase in the amount of time it takes to close a traditional loan.

The numbers may seem miniscule on paper, the three day average increase reflects a whopping 15.7% of available banking days in November.  Traditionally, most homes close in the last 3-days of the month, as such even a 2-3 day average increase “pushes” closings into the following month. 

When we compare both written contract volume & anecdotal experience from the industry, most indications are that the sales are not lost.  December reporting will be critical to see if the decrease was simply due to delay, or if November's numbers are a foreshadowing of a deeper market shift.

Christie Cannon - Keller Williams Frisco TX

Displaying blog entries 1-10 of 178

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Christie Cannon
Keller Williams Realty
4783 Preston Road. Ste 100
Frisco TX 75034
469-951-9588
972-215-7747
Fax: 214-853-4774