Members of the Silver City Regional Association of REALTORS-?, Inc. will write periodic columns under this heading to inform the public about real estate matters.
The opinions do not necessarily reflect the opinions of the Grant County Beat.
Eighty-four percent of Americans believe that purchasing a home is a good financial decision, the highest number in 10 years. Yet six in 10 said that they are concerned about affordability and the rising cost of buying a home or renting in their area. This is according to NAR’s 2017 National Housing Pulse Survey, which measures consumers’ attitudes and concerns about housing issues in the nation’s 25 largest metropolitan statistical areas.
“This survey makes it clear that most American’s still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home. Yet, Americans consider the lack of affordability as a big obstacle to ownership,” said Cassie Carver, President of the Silver City Regional Association of Realtors.
Midway through 2017 the Silver City Regional Association of REALTORS state that local sales are steady. As of the end of June, in Grant County, there have been 148 homes sold compared to 149 during the same period in 2016. The average sales price of homes year-to-date is $142,845 which is up slightly from $142,407 in 2016.
"The sales price of a home usually factors in many things, with the condition and location being the top priorities. We have a lot of older homes in our inventory that need to be updated. These homes should be priced accordingly. On the other end of the spectrum, we have many high-end homes with very few buyers shopping in that price range," According to the SCRAR Association Executive, Kim Clark.
Thirty-five years ago, the National Association of Realtors® introduced the first Profile of Home Buyers and Sellers. The year was 1981 and mortgage rates were over four times higher than they are today, and first-time buyers made up a much larger share of overall sales. While many home buyer and seller behaviors and preferences have changed, some have remained constant over the last 35 years.
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