Home Prices Remain Strong- currently 21 percent of all homes are sold ABOVE listing price

[SC Maintenance]

For the statistic people, this is a great source.
For example, new home sales on average of pretty much unchanged for the last seven years.
It helps to take a look at the big picture.
Including existing Home sales were up almost 10% in 2024 December

The market is soft, obviously which is what the vet has been trying to do by cooling down the economy
this is a better representation
https://fred.stlouisfed.org/tags/series?t=housing;sales

….

New construction has been flat for 2 years. Even in 2020 peak it was still way lower than 2007. Most new construction is for retirees in the sun belt .

I look at bond investor data. I have no horse in the race - other than maybe buying a bond. To me it’s just data.

https://www.census.gov/construction/nrs/current/index.html

 

[GON]

New construction has been flat for 2 years. Even in 2020 peak it was still way lower than 2007. Most new construction is for retirees in the sun belt .

I look at bond investor data. I have no horse in the race - other than maybe buying a bond. To me it’s just data.

https://www.census.gov/construction/nrs/current/index.html

I started looking at worldwide government bond prices last week. which led me to worldwide single-family mortgage rates.

I was surprised (maybe should not have been) that single family home mortgage rates in Germany are about 3 percent lower than comparable U.S. single family home mortgage rates. The rates are not seamless to compare for numerous reasons, to include Germany maximum mortgage years is typically 20 years, not 30 years as is common in the U.S.

 

[nickaluch]

Yep, my daughter bought her first house on her own, with no help from us three weeks ago.

My son is putting his house up for sale and buying something larger as of this week the decision was made.

Life is good in the USA

Congrats to your daughter my middle daughter just bought a house in the Lindenmere section of Merrick

 

[alarmguy]

Congrats to your daughter my middle daughter just bought a house in the Lindenmere section of Merrick

That is awesome. Merrick is very unique. Even the stucco homes in the Gables. But Lindenmere, wow. very nice! Some of those stone capes to English Tudors and everything in-bertween even if in the more "normal" area. Always loved it there.
Im sure she is very happy.

I know all the areas the pretty good. I did extensive real estate activity for almost a decade on the South Shore, Merrick to Massapequa mainly. Also my first wife went to Mepham (or however you spell it) Its getting close to 2 decades since leaving L.I.

You or someone you know may have known my name from back then. My practice grew like a wildfire by treating people (mostly listings) honestly and truly representing them for best price. It was a lot of fun. Even some law firms knew me. Changes in my life and I kind of burnt myself out, was getting impossible to even take a day off at time. Ironically, as you can tell, I miss it sometimes. Other firms couldn't figure out what I was doing and all I was doing was sincerely working for people and hitting the streets taking to them.

 

[nickaluch]

This has nothing to do on how property taxes are applied to your home. You could start another thread on it.
As far as Long Island, obviously not enough people are moving out when the median house price is $700,000 to $800,000

I live in Plainview Long island about 40 houses for sale. Highest asking $1.9k lowest $749k scratch my head on this

 

[alarmguy]

I live in Plainview Long island about 40 houses for sale. Highest asking $1.9k lowest $749k scratch my head on this

Its insane. I know. My parents old community on the Bellmore Wantagh border. Not as high as Plainview, Plainview was always about 15% or so higher But I see they dormer what was small capes now, blow the top off, hit the market at 1.2 million (I haven't checked if any higher now) of what not to long ago was a $440,000 cape or ranch.
If I had to guess, and this is just a wild guess. Is it a plot in Plainview ? *LOL*

 

[Chris142]

My old boss moved from Ca to Tennessee last year. He put his house up for $415.

There was a bidding war that started and a 24 yr old girl ended up with it and paid $615 for it!

I think she has an only fans thing lol

There are very few apartments or rooms available here and most can't qualify for a house and end up living with family or being homeless in a tent along the Mojave river

 

[gfh77665]

South Louisiana . Houses are sitting on the market and prices are being lowered to move them . New developments are doing ok but older homes are taking a while to move .

Thats because developers offer all kinds of financial incentives that a ramdom existing home seller cannot offer. Thats how the game is played now. That said, my relative recently sold his home in Prarieville LA for $1M+ in about a month.

 

[BMWTurboDzl]

South Louisiana . Houses are sitting on the market and prices are being lowered to move them . New developments are doing ok but older homes are taking a while to move .

Did your state fix the insurance problem?

 

[BMWTurboDzl]

Thats because developers offer all kinds of financial incentives that a ramdom existing home seller cannot offer. Thats how the game is played now. That said, my relative recently sold his home in Prarieville LA for $1M+ in about a month.

True. Temporary and permanent Interest rate buy downs were very popular.

 

[nickaluch]

Its insane. I know. My parents old community on the Bellmore Wantagh border. Not as high as Plainview, Plainview was always about 15% or so higher But I see they dormer what was small capes now, blow the top off, hit the market at 1.2 million (I haven't checked if any higher now) of what not to long ago was a $440,000 cape or ranch.
If I had to guess, and this is just a wild guess. Is it a plot in Plainview ? *LOL*

I grew up in Bellmore my parents moved there in 1969. My first house was in South Bellmore small on a canal still own dock my boat there renting it out great tenant and income. Moved to Merrick big house . House was empty once my two oldest went off to college then moved into lower Manhattan. Sold my business and my house moved to Plainview small ranch much cheaper to run easier to clean and bedrooms on main floor easier to age in. I miss the south shore I like the downtowns good restaurants and bars. Plainview has no downtown only strip malls no place to have a cocktail with the wife or friends

 

[nomas]

Did your state fix the insurance problem?

Which one ?

 

[PandaBear]

I don't think "above listing" is any indicator.

Back in the 90s people list what they want and then the buyer negotiate down or pay it. Today sellers were told to list below so they catch attention, aka teaser price, so they start a bidding war between buyers.

In the end we all expect everyone to list at 20% below to start with and if someone offer the asking the seller can still refuse to sell.

 

[GON]

I don't think "above listing" is any indicator.

Back in the 90s people list what they want and then the buyer negotiate down or pay it. Today sellers were told to list below so they catch attention, aka teaser price, so they start a bidding war between buyers.

In the end we all expect everyone to list at 20% below to start with and if someone offer the asking the seller can still refuse to sell.

So, I understand your post. with 21 percent of homes selling above listing price, that equated to 79 percent of homes selling at or below listing price.

You posted "everyone to list at 20% below to start with".

So- you are actually claiming that 79% of the homes sold in the U.S. in February 2025, sold 20 percent or more below actual and/ or appraised valuations?

Fascinating.

 

[Dave Hess]

M

My old boss moved from Ca to Tennessee last year. He put his house up for $415.

There was a bidding war that started and a 24 yr old girl ended up with it and paid $615 for it!

I think she has an only fans thing lol

There are very few apartments or rooms available here and most can't qualify for a house and end up living with family or being homeless in a tent along the Mojave river

Most apartment complex want 3X a person’s gross monthly income.

So for many it causes them to have a very tight budget and never save up for down payment for starter home.

 

[BMWTurboDzl]

Which one ?

Louisiana

 

[PandaBear]

So, I understand your post. with 21 percent of homes selling above listing price, that equated to 79 percent of homes selling at or below listing price.

You posted "everyone to list at 20% below to start with".

So- you are actually claiming that 79% of the homes sold in the U.S. in February 2025, sold 20 percent or more below actual and/ or appraised valuations?

Fascinating.

My point is the negotiating methods have change and listing is pointless these days. If you want real data you need to look at comparison to previous years closing prices.

 

[nomas]

Louisiana

I meant which problem ..

 

[BMWTurboDzl]

I meant which problem ..

Homeowners insurance.

https://www.insurancebusinessmag.co...nsurance-for-louisiana-homeowners-529098.aspx

 

[The Critic]

So, I understand your post. with 21 percent of homes selling above listing price, that equated to 79 percent of homes selling at or below listing price.

You posted "everyone to list at 20% below to start with".

So- you are actually claiming that 79% of the homes sold in the U.S. in February 2025, sold 20 percent or more below actual and/ or appraised valuations?

Fascinating.

No, what he's saying is that listing practices are very nuanced and are heavily dependent upon local market norms. In some markets, listing low and bidding up is the expected norm. This may be less true in other markets.