Out of the Seller’s Market, Into the Buyer’s Market

first_img  Print This Post Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Related Articles February marked a transition from a seller’s market to a buyer’s market, according to recent data from RE/MAX. According to the RE/MAX National Housing Report, declining sales and growing inventory have pushed the market forward for buyers.February’s 4.2 percent downturn was the smallest since August 2o18, as home sales have declined year-over-year for seven consecutive months. Meanwhile, inventory grew by 5.8 percent in February year over year, the fifth consecutive month of year over year growth. Month over month, February saw more homes sold than in January, up by 10.2 percent.“Trends of five months or more often indicate significant shifts, and the year-over-year trends in declining sales and rising inventory have both reached that length now,” said RE/MAX CEO Adam Contos. “It’s interesting to see the slowing sales and growing inventories that benefit buyers and at the same time the record prices that benefit sellers. The big picture supports an ongoing return to more balanced conditions.”Additionally, the report states that in February, the median sales price increased to $240,000, up 5.5 percent year over year, and a February record. The metro areas with the lowest days on market were Omaha, Nebraska at 34, San Francisco at 37, and a two-way tie between Denver and San Diego at 42. The highest days on market averages were in Augusta, Maine at 120, Trenton, New Jersey at 113, and Hartford, Connecticut at 96.“The next few months will determine whether the shift brings a wave of buyers into the market for the spring selling season. Members of our network are reporting high local demand along with a need for even more inventory. The optimism for a solid spring exists – and a more balanced market certainly contributes to it.”The average days on the market for homes sold in February was up four days month over month, up to 63, a one day year over year gain. Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Buyers Home Prices Inventory RE/MAX sellers Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Buyers Home Prices Inventory RE/MAX sellers 2019-03-21 Seth Welborn About Author: Seth Welborn Home / Daily Dose / Out of the Seller’s Market, Into the Buyer’s Marketcenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe in Daily Dose, Featured, Market Studies, News March 21, 2019 1,656 Views Out of the Seller’s Market, Into the Buyer’s Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Churchill Mortgage Teams With American Home Title Next: CFPB Tackles Mortgage Debt Collection Issues The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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54 Below Gets a New Partner (& New Name) with Michael Feinstein

first_img54 Below is going by a (somewhat) new name later this year. The midtown hotspot will partner with cabaret honcho Michael Feinstein, resulting in a new name: Feinstein’s/54 Below. Feinstein will play his first engagement of his own at the venue from December 20-30.Feinstein’s credits and accolades include numerous Grammy-nominated recordings and TV specials; his nightclub Feinstein’s at the Nikko opened in San Francisco in May 2013. His previous New York mainstay, Feinstein’s at Loews Regency Hotel, closed at the end of 2012.“I’ve watched 54 Below light up Times Square as the number one destination for live entertainment and great food,” Feinstein said in a statement. “I am thrilled to join the Tony Award-winning team behind 54 Below’s success and look forward to our new adventure together.”54 Below opened in the basement below Studio 54 in 2012, and has since played host to myriad Broadway legends, new stars and fresh faces. View Commentslast_img read more

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