Jun 14

Convincing Owners to Move

Convincing Owners to Move

Convincing Owners to Move

Convincing Owners to Move

About 19% of U.S. households say they expect to move over the next year—the highest reading for May in two years, according to the Survey of Consumer Expectations report, released from the Federal Reserve Bank of New York.

The trend of more homeowners showing an openness to move has been on the rise ever since mortgage rates began to dip this year.

“We expected more people to be ready to get into the market because of the low mortgage rates and rising wages, but some have remained on the sidelines,” Robert Dietz, chief economist at the National Association of Home Builders, told HousingWire. Economic uncertainties may still be causing some potential buyers to be hesitant, he notes.

The percentage of households that say they’re ready to move is also shy from the recent six-year high posted in March of 21.7%. But overall, the trend of households showing a willingness to move has been elevated over the past year.

Homeowners may be feeling richer. The average homeowner gained $6,400 in home equity between the first quarter of 2018 and the first quarter of this year, according to ATTOM Data Solutions. Some states saw two-figure gains, such as in Nevada, where homeowners gained about $21,000 in home equity over the past year, and in Idaho, where they gained $20,700.

Household income is also rising. Inflation-adjusted household income is 15% higher than the postrecession low from June 2011, but it’s still been a gradual climb. The U.S. median annual household income was $64,016 in April, according to Sentier Research.

“Real median household income has continued to display an upward trend over the past 12 months,” says Gordon Green of Sentier Research. “We continue to monitor the course of inflation, as this has a significant effect on the trend in real median annual household income. We are at a point now where real median household income is 4.2% higher than January 2000. Not an impressive performance by any means over a period spanning almost two decades, but the overall trend line has been positive for about seven years.”

Source:
“Survey of Consumer Expectations,” Federal Reserve Bank of New York (June 2019) and “Almost 1 in 5 American Households Expect to Move in Next Year, Fed Report Says,” HousingWire (June 11, 2019)

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.