Industry Leaders Discuss Challenges, Changes in Real Estate
Joan Docktor, the president of Berkshire Hathaway HomeServices Fox & Roach Realtors®, the largest single market brokerage in the U.S., along with Helen Hanna Casey, the chief executive officer of Howard Hanna Real Estate Services, the largest independent and family-owned and -operated real estate company in the U.S., discussed industry trends during a PAR webinar this week.
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Pennsylvania Median Home Sales Price Hits Five-Year Record High in April
The median home sales price in Pennsylvania was $204,274 in April, up 13.4% over the same time last year.
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Majority of Buyers Prepared to Make an Offer in Three Days or Less
Sixty-five percent of buyers said they were willing to make an offer within three days of viewing a home and 20% said they were prepared to make one immediately after viewing.
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Homes Still Moving Quickly, But Market Shows Signs of Slight Slowdown
Despite obstacles, 58% of homes under contract had an accepted offer within two weeks on the market, an increase of 4% year over year, while 44% had an offer within one week, an increase of 3% year over year.
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Home Projects Popularity and Spending Continue Upward Trajectory
Spending on home renovations increased 20% in 2021, with 55% of homeowners reporting completing a home improvement project.
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What Sellers Are Expecting in Today’s Market
Forty-three percent of sellers expect their home will go for over listing price.
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Single Female Buyers Outpriced in Majority of Metros
The report found that women can afford to buy in just 17 of the country’s 51 biggest cities, but men can afford to buy in 29 of those places.
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Location, Square Footage Most Important to Buyers in 2022
Location is key to 88%, followed by square footage at 73%, both topping listing price, which 68% cited as a top feature.
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Are You Registered to Vote?
Pennsylvania’s primary election is on Tuesday, May 17. And the deadline to register to vote in that election is this Monday, May 2.
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