Every day, over 3.5 billion Google searches are processed—and last week, an in-depth Google study determined the most common mortgage-related searches. The report was based solely on Google search data from the past few years and focuses on what today’s buyers are looking for online.
Earlier this month, we reported the top five reasons why your home could be spending too much time on the market. The first and most common reason was listing a home price significantly more expensive than its worth. Now, with homeowners better than ever at predicting home prices, it’s even more important to list an accurate home price to make a speedy sale.
Last month, employment gains were stronger than expected. In fact, with an increase of 222,000 hires in June experts now say the economy is at full employment. According to Zillow, this sudden jump may be due to the high number of recent graduates.
The nation’s state of economic expansion has reached its ninth consecutive year. According to the Fannie Mae Economic & Strategic Research (ESR) Group’s June 2017 Economic and Housing Outlook, this year’s economy is expected to continue growing at an annual rate of 2 percent. Although last quarter hovered around a growth rate of 1.2 percent, the second quarter is looking at a rate of 2.9 percent to round out the first half of the year.
Throughout the country, the housing market has become a seller’s market—but that doesn’t mean every home will be sold quickly. In fact, with this type of market, some homes can remain “for sale” for months, while homes around them are sold in a matter of days.
The April 2017 Zillow Real Estate Market Report states that the median value of homes in the United States has grown to its highest rate in more than a decade. Since last April, U.S. home values have risen an average of 7.3 percent, putting the average national value at $198,000.