Monday, July 16, 2018

Real Estate and Home Sales Report Clark County WA - June 2018

Flat Home Sales in Clark County WA for June 2018.

County-wide home sales results pulled down by softness in the major city - Vancouver; with Unit-Sales numbers down 4.55% for the first half of the year. Here are the key highlights for this month: 
  • Average-Sales Prices are still up strong; with the 12-month/long-term trend line up 11.28% compared to last year at this time;  and the 3-Month Moving Average is up 11.12% from June last year; 
     
  • The Inventory for Resale Homes rose again to 2.1 Months Supply;
     
  • Approximately 621 Resale Homes closed in the month, which is about 142 fewer (-18.6%) homes than in 2017; and only 16 more than last month.
     
  • REO/Bank Owned property sales were 4 units (0.6% of total); down from 13 (1.7%) in 2017. 
     
  • Short Sale /Pre-Foreclosure property sales were 2 units (0.3% of total); down from 4 (0.5%) in 2017.
The month-end, 30-year-fixed home loan benchmark interest rate is 4.57% (down from 4.59% last month) according to Freddie Mac; compared to 3.9% for June 2017.

Below I've prepared the Unit-Volume chart, showing the short term (in red) and long term / 12-month moving average in Blue. 
Clark County Home Sales June 2018- Units Sold Clark County Home Sales - Units Sold Trend June 2018
The short-term trend finally broke above (just barely) the long-term line from below. This weak performance is reflective of the sales being off in Vancouver this month. The long-term trend is also at its lowest level in 2+ years, reflective of the slowing sales.

The next chart also shows 3 month and 12 month trends for the average sales prices for the County. 


Clark County Home Sales June 2018- Average Sales Price Trends Clark County Home Sales - Average Sales Price Trend June 2018

The June short term Average sales price for Clark County is now up to $393,224; and reflects an increase from last month but, the rate of increase has slowed. This is also an increase of about $39,366 from June last year.

Our final RMLS graphs (below) RMLS show:
Charts of Vancouver WA Home Sales Trends in June 2018 Clark County Home Sales Inventory
& Days on Market - June 2018

New Listings matched the moved to a much higher level that we saw last month; with both Pending and Closed sales only moving up slightly thus, Active Inventory continued to increase. 

The second graph shows new listings are keeping their prices at a higher level but, not an increase this month; with Closed Sales prices slowing their rise also.

Finally, for the Days on the Market, both the Average and the Median dropped only a couple of days.

More information from the RMLS published report on the Clark County real estate scene can be found here: RMLS Market Action Report on our main website.


PS - This is an opportune time to List and Sell Your Home with Our Team for 2018; or, at least find out what your home is worth!  We offer a no-cost, no-obligation Clark County WA Home Valuation, and invite you to try it out!

PPS - Looking to buy a home this year?  You are invited to visit our web-page for Clark County WA  Homes For Sale where it is Quite Easy to search by City, Neighborhood or by Category, with homes and real estate listings from the entire RMLS.  Sign-up Not Required!  The property and home listings shown are provided via many updates each day, and you will be e-mailed hourly with any new matches once you've signed up for a home search.

We also have the MLS Listings for these great towns in Clark County:  Battle Ground WA Real Estate | Brush Prairie WA Homes | Camas WA Homes For Sale | Hockinson WA Homes | La Center WA Homes for sale | Ridgefield WA Homes for sale | Homes for sale in Vancouver Washington | Washougal WA Real Estate | Yacolt WA Homes | Amboy WA Homes


The information and charts in this Clark County WA real estate update (prepared by Vancouver WA Real Estate Broker, John Slocum, CRS, SFR, our resident statistician) are based on home sales recorded in the Clark County WA MLS system (RMLS), excluding sales of mobile home; and shows the purchase activity since 2009; charting the 3 month Moving average number of sales, and the 12 month Moving average.  This "smoothing" of the trend-data helps illustrate the short-term and longer term trends in Clark County's real estate market.

Disclaimer: as with any real estate statistics, we do our best to provide the best representation at the time the data was acquired and compiled.  The data and reports are deemed reliable but not guaranteed.

Friday, July 6, 2018

Clark County WA Home Sales Report - May 2018

 Relatively Strong Home Sales Continue in Clark County WA for May 2018.

Nationwide home sales have been showing signs of slowing however, the local scene has seen variability but is quite strong overall at this point. Here are the key highlights for May's results: 

  • Average-Sales Prices moved up strongly; with the 12-month/long-term trend line up 11.34% compared to last year at this time;  and the 3-Month Moving Average is up 11.29% from last May; 
     
  • The Inventory for Resale Homes keeps rising and is now at 1.9 Months Supply;
     
  • Approximately 594 Resale Homes were sold in the month, which is about 62 fewer (-9.5%) homes than in 2017; although 63 more than last month.
     
  • REO/Bank Owned property sales were 10 units (1.7% of total); down from 14 (2.1%) in 2017. 
     
  • Short Sale /Pre-Foreclosure property sales were 5 units (0.8% of total); down from 13 (1.98%) in 2017.

The month-end, 30-year-fixed home loan benchmark interest rate is 4.59% (up from 4.47% last month) according to Freddie Mac; compared to 4.01% for May 2017.

Next we have our custom graphs/charts prepared for Clark County. We use a simple "smoothing" method to easily show the short-term trend (3-month moving average in Red); and long-term trend (12-month moving average in Blue). 

Clark County Home Sales May 2018- Units Sold Clark County Home Sales - Units Sold Trend May 2018

The short-term trend-line is just about to "pierce" the long-term line from below on its way upwards.  With Pending Sales strong this month we expect the red line to be well above the blue line next month. The long-term line has shown a little softness, although current unit-sales year-to-date are less than 1% behind last year at this time.

In the next chart we show Average Sales prices with prices still strongly up in the early part of this Sales Season. 

Clark County Home Sales May 2018- Average Sales Price Trends Clark County Home Sales - Average Sales Price Trend May 2018


The May short term Average sales price for Clark County is now up to $391,396. This is an increase of about $39,691 from the same month last year.

Our final three graphs below from RMLS show:

Charts of Vancouver WA Home Sales Trends in May 2018 Clark County Home Sales Inventory
& Days on Market - May 2018


New Listings have taken a strong leap upwards, while Pending and Closed sales have both risen modestly, allowing Active Inventory to grow slightly. 

The second graph shows another upward move in the price for new listings, and similarly Closed Sales prices going up as well.

Finally, for the Days on the Market, the Average dropped quite a bit, and the Median dropped by several days as well.

We also have more information from the RMLS published report on the Clark County real estate scene can be found here: RMLS Market Action Report on our website.
 


PS - This is now the High Season in our area, and may be an opportune time to List and Sell Your Home with Our Team for 2018; or, at least find out what your home is worth!  We offer a no-cost, no-obligation Clark County WA Home Valuation, and invite you to try it out!

PPS - Looking to buy a home this year?  You are invited to visit our web-page for Clark County WA  Homes For Sale where it is Quite Easy to search by City, Neighborhood or by Category, with homes and real estate listings from the entire RMLS.  Sign-up Not Required!  The property and home listings shown are provided via many updates each day, and you will be e-mailed hourly with any new matches once you've signed up for a home search.

We also have the MLS Listings for these great towns in Clark County:  Battle Ground WA Real Estate | Brush Prairie WA Homes | Camas WA Homes For Sale | Hockinson WA Homes | La Center WA Homes for sale | Ridgefield WA Homes for sale | Homes for sale in Vancouver Washington | Washougal WA Real Estate | Yacolt WA Homes | Amboy WA Homes



The information and charts in this Clark County WA real estate update (prepared by Vancouver WA Real Estate Broker, John Slocum, CRS, SFR, our resident statistician) are based on home sales recorded in the Clark County WA MLS system (RMLS), excluding sales of mobile home; and shows the purchase activity since 2009; charting the 3 month Moving average number of sales, and the 12 month Moving average.  This "smoothing" of the trend-data helps illustrate the short-term and longer term trends in Clark County's real estate market.

Disclaimer: as with any real estate statistics, we do our best to provide the best representation at the time the data was acquired and compiled.  The data and reports are deemed reliable but not guaranteed.

Thursday, June 14, 2018

Protocol for the Flag

The American flag is obviously a symbol of our country but it has come to remind us of every man and woman who has fought for the freedom that we enjoy. The emotions that are stirred by images of our flag can run from happiness to sadness to trust and everything in between.flag2.png

Most of us learned American flag etiquette or the Flag Code when we were young but occasionally, it is a good idea to review the guidelines so that the flag is treated with the respect it deserves.

  • The U.S. flag should not be flown at night unless a light is shown on it.
  • The U.S. flag should not be flown upside down except as a distress signal.
  • The flag should never touch the ground.
  • A U.S. flag should be displayed at the peak of the staff unless the flag is at half-staff in mourning.
  • When displaying multiple flags of a state, community or society on the same flagpole, the U.S. flag must always be on top.
  • When flown with flags of states, communities, or societies on separate flag poles which are of the same height and in a straight line, the flag of the United States is always placed in the position of honor - to its own right. No flag should be higher or larger than the U.S. flag. The U.S. flag is always the first flag raised and the last to be lowered.
  • When the U.S. flag is flown with those of other countries, each flag should be the same size and must be on separate poles of the same height. Ideally, the flags should be raised and lowered simultaneously.

More information on flag etiquette can be found at the Veterans of Foreign Wars website.


Tuesday, June 5, 2018

Home Sales Report for Clark County WA - April 2018

 Home Sales Staying Strong in Clark County WA for April 2018.

Although some parts of the County are showing weakness, that has been made up in Vancouver and Ridgefield. Here are the key highlights for April's results: 
  • Average-Sales Prices are on their way back up; with the 12-month/long-term trend line up 10.94% compared to April 2017,  and the 3-Month Moving Average is up 10.65% from last year; 
     
  • The Inventory for Resale Homes rose again to a healthier 1.6 Months Supply;
     
  • Approximately 526 Resale Homes were sold in the month, which is about 21 more (4.2%) homes than in 2017; although 4 fewer than last month.
     
  • REO/Bank Owned property sales were 9 units (1.7% of total); up from 6 (1.2%) in 2017. 
     
  • Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 4 (0.8%) in 2017.
The month-end, 30-year-fixed home loan benchmark interest rate is 4.47% (up from 4.44% last month) according to Freddie Mac; compared to 4.05% for April 2017.

Now we come to my custom graphs/charts prepared for Clark County. A very simple "smoothing" method is employed to easily show the short-term trend (3-month moving average in Red); and long-term trend (12-month moving average in Blue). 
Clark County Home Sales April 2018- Units Sold Clark County Home Sales - Units Sold Trend April 2018
The short-term trend-line shows the "bottom" for the year is behind us, with the activity picking up similar to the recent prior years. The long-term line is still below the peak level but is relatively level - a mode we expect to continue for the near future.

In the next chart for Average Sales prices shown in the next chart (below) have moving up strongly again with the "Spring Rush" of home sales. 


Clark County Home Sales April 2018- Average Sales Price Trends Clark County Home Sales - Average Sales Price Trend April 2018

The April short term Average sales price for Clark County is now up to $379,758. This is an increase of about $36,539 from the same month last year.
Charts of Vancouver WA Home Sales Trends in April 2018 Clark County Home Sales Inventory
& Days on Market - April 2018

Our final three graphs from RMLS show:

New Listings have eased slightly, while Pending and Closed sales have held steady. 

The second graph is showing the continued surge in the price for new listings, and the upward movement in Closed Sales prices.

Finally, for the Days on the Market, the Average dropped substantially, and the Median is now less than one week.

We also have more information from the RMLS published report on the Clark County real estate scene can be found here: RMLS Market Action Report on our website.


PS - This is now the High Season in our area, and may be an opportune time to List and Sell Your Home with Our Team for 2018; or, at least find out what your home is worth!  We offer a no-cost, no-obligation Clark County WA Home Valuation, and invite you to try it out!

PPS - You are invited to visit our web-page for Clark County WA  Homes For Sale where it is Quite Easy to search by City, Neighborhood or by Category, with homes and real estate listings from the entire RMLS.  Sign-up Not Required!  The property and home listings shown are provided via many updates each day, and you will be e-mailed hourly with any new matches once you've signed up for a home search.

We also have the MLS Listings for these great towns in Clark County:  Battle Ground WA Real Estate | Brush Prairie WA Homes | Camas WA Homes For Sale | Hockinson WA Homes | La Center WA Homes for sale | Ridgefield WA Homes for sale | Homes for sale in Vancouver Washington | Washougal WA Real Estate | Yacolt WA Homes | Amboy WA Homes


The information and charts in this Clark County WA real estate update (prepared by Vancouver WA Real Estate Broker, John Slocum, CRS, SFR, our resident statistician) are based on home sales recorded in the Clark County WA MLS system (RMLS), excluding sales of mobile home; and shows the purchase activity since 2009; charting the 3 month Moving average number of sales, and the 12 month Moving average.  This "smoothing" of the trend-data helps illustrate the short-term and longer term trends in Clark County's real estate market.

Disclaimer: as with any real estate statistics, we do our best to provide the best representation at the time the data was acquired and compiled.  The data and reports are deemed reliable but not guaranteed.

Monday, March 26, 2018

Real Estate for sale Clark County WA - February 2018 Market Report

Nice Up-Tick for Pre-Owned Home Sales in Clark County WA for February 2018.

Reversing the sluggish sales posted last month,  Clark County pre-owned real estate and home sales rallied and posted 33 more units-sold for February. Here are the key highlights for February's results: 

  • Average-Sales Prices are still slipping below their recent record highs, which is typical this time of year; the 12-month/long-term trend line is up 11.10% compared to February 2017,  and the 3-Month Moving Average is up 11.97% from last year; 
     
  • The Inventory for Resale Homes rose ever so slightly to 1.1 Months Supply;
     
  • Approximately 416 Resale Homes were sold in the month, which is about 33 more (8.6%) homes than in 2017; and 46 more than last month.
     
  • REO/Bank Owned property sales were 4 units (0.96% of total); down from 17 (4.4%) in 2017. 
     
  • Short Sale /Pre-Foreclosure property sales were 5 units (1.2% of total); up from 3 (0.8%) in 2017.

The month-end, 30-year-fixed home loan benchmark interest rate is 4.33% (up from 4.03% last month) according to Freddie Mac; compared to 4.17% for February 2017.

Next in line are the custom graphs/charts we have prepared for Clark County WA. A simple "smoothing" technique is used to better present the short-term trend (3-month moving average in Red); and long-term trend (12-month moving average in Blue). 

Clark County Home Sales February 2018- Units Sold Clark County Home Sales - Units Sold Trend February 2018

The still-declining short-term trend-line is now below its low for last year which may be reasonable to expect with such low available Inventory. The long-term line is showing a sideways move, as overall demand for housing is still reasonably strong.

Average Sales prices shown in the next chart (below) have slipped slightly below the long-term trend but, haven't gone as far as this time last year. 

Clark County Home Sales February 2018- Average Sales Price Trends Clark County Home Sales - Average Sales Price Trend February 2018


The February short term Average sales price for Clark County is now up to $359,647. This is an increase of about $38,448 from a year ago.


Charts of Vancouver WA Home Sales Trends in February 2018 Clark County Home Sales Inventory
& Days on Market - February 2018


Our final three graphs from RMLS show:

Closed Sales and New Listings have both moved up, with Pending sales actually dropping slightly. Even so, the available Inventory did not move up that much. 

The second graph is showing another strong spread between new-list prices and actual Closed sales prices.

Finally, for the Days on the Market, the Average increased 12 days to 61, and Median increased one day to 27.

More information from the RMLS published report on the Clark County real estate scene can be found here: RMLS Market Action Report on our website.
 


PS - This is without a doubt a great time to List and Sell Your Home with Our Team for 2018; or, at least find out what your home is worth!  We offer a no-cost, no-obligation Clark County WA Home Valuation, and invite you to try it out!

PPS - You are invited to visit our web-page for Clark County WA  Homes For Sale where it is Quite Easy to search by City, Neighborhood or by Category, with homes and real estate listings from the entire RMLS.  Sign-up Not Required!  The property and home listings shown are provided via many updates each day, and you will be e-mailed hourly with any new matches once you've signed up for a home search.

We also have the MLS Listings for these great towns in Clark County:  Battle Ground WA Real Estate | Brush Prairie WA Homes | Camas WA Real Estate | Hockinson WA Homes | La Center WA Homes | Ridgefield WA Homes | Vancouver WA Homes | Washougal WA Real Estate | Yacolt WA Homes | Amboy WA Homes



The information and charts in this Clark County WA real estate update (prepared by Vancouver WA Realtor, John Slocum, CRS, SFR, our resident statistician) are based on home sales recorded in the Clark County WA MLS system (RMLS), excluding sales of mobile home; and shows the purchase activity since 2009; charting the 3 month Moving average number of sales, and the 12 month Moving average.  This "smoothing" of the trend-data helps illustrate the short-term and longer term trends in Clark County's real estate market.

Disclaimer: as with any real estate statistics, we do our best to provide the best representation at the time the data was acquired and compiled.  The data and reports are deemed reliable but not guaranteed.

Thursday, March 22, 2018

Fair Skies on the Home-Ownership-Horizon

Buyers who have been concerned about what might happen to the tax laws affecting home ownership should feel more comfortable about moving forward with their decision to purchase. The 2017 Tax Cut and Jobs Act passed by Congress and signed by the President continues to treat real estate as a favored investment.31496145-250.jpg
Whether it is for a home to live in as your principal residence or to use as rental property, the tax laws are in place but other dynamics to be concerned with are not; mortgage rates are expected to rise as well as prices.
Reasons to buy now:
  1. The mortgage interest deduction is intact for most taxpayers.
  2. The capital gain exclusion for principal residences up to $500,000 remains in place.
  3. Taxpayers can elect annually to take newly increased standard deduction or itemize deductions whichever will benefit them the most.
  4. The house payment with taxes and insurance is most likely cheaper than the rent.
  5. Rents will continue to rise making the difference even greater in the future.
  6. Lock-in the principal & interest payment with a fixed-rate mortgage.
  7. 30-year mortgage terms are available to most borrowers.
  8. Prices will likely increase due to lower inventories and several years of low housing starts.
  9. Section 1031 exchanges, capital gains and depreciation remain the same for rental properties.
For a summary of specific real estate provisions in the 2017 Tax Cut and Jobs Act, click here.

Tuesday, February 27, 2018

Historical Perspective on Home Loan Interest Rates

Current Home Loan Rates in the 4% Range are a Bargain for Clark County WA Home Buyers in 2018.

In 1968, mortgage rates were 8.5%. The next year, rates went down to 7%. Homeowners could buy a 15-20% larger home for the same payments if they could find someone to assume their mortgage.Mortgage rate history2a.png
FHA and VA mortgages were very popular in certain price ranges and they allowed anyone to assume the mortgage regardless of the credit. If you could find a person to take over your note, you were free to qualify for another mortgage.
In October 1981, mortgage rates reached 18.63%. A $250,000 mortgage had a monthly principal and interest payment of $3,896.46. As astronomical as that rate sounds, people were still buying homes and were good investments.
Four years later, they were still over 12%. The monthly payment was $2,571.53. Believe it or not, people were excited to be paying only 2/3 what they had to pay a few years earlier.
Fast forward to late 1991 when the rates went below 9% and that same payment was to $2,015.16. At the turn of the 21st century, rates were 8.15% and that made the payment $1,860.62. Not much change in rates during that decade.
If we look around the housing bubble, late 2008, the rates were 6.04% and the payment was $1,505.31. By 2009, mortgage rates had fallen below 5%. The lowest mortgage rate was 3.31% on November 2012 with a payment of $1,096.27.
Rates fluctuated for the next few years until now, and most of the experts are expecting them to be above 5% by the end of 2018.  Rates have increased each week for the last six weeks to 4.38% with payments of $1,240.12.
The average mortgage rate for the past 47 years is a little over 8%. The real estate and mortgage markets are cyclical. Rates have been historically low for a long period but will probably continue to rise. Most buyers don’t pay cash and mortgages enable them to purchase now. Based on history, even 8% would be an excellent rate. Until it reaches that point again, everything lower is a bargain.


PS - This is clearly a great time to List and Sell Your Home with Our Team for 2018; or, at least find out what your home is worth!  We offer a no-cost, no-obligation Clark County WA Home Valuation, and invite you to try it out!

PPS - You are invited to visit our web-page for Clark County WA  Homes For Sale where it is Quite Easy to search by City, Neighborhood or by Category, with homes and real estate listings from the entire RMLS.  Sign-up Not Required!  The property and home listings shown are provided via many updates each day, and you will be e-mailed hourly with any new matches once you've signed up for a home search.

We also have the MLS Listings for these great towns in Clark County:  Battle Ground WA Real Estate | Brush Prairie WA Homes | Camas WA Real Estate | Hockinson WA Homes | La Center WA Homes | Ridgefield WA Homes | Vancouver WA Homes | Washougal WA Real Estate | Yacolt WA Homes | Amboy WA Homes


The information and charts in this Clark County WA real estate update are provided by Vancouver WA Realtor, John Slocum, CRS, SFR.

Disclaimer: as with any real estate statistics, we do our best to provide the best representation at the time the data was acquired and compiled.  The data and reports are deemed reliable but not guaranteed.