{"id":1541,"date":"2020-01-09T13:18:30","date_gmt":"2020-01-09T18:18:30","guid":{"rendered":"http:\/\/www.homewithrob.com\/?p=1541"},"modified":"2020-01-09T13:18:30","modified_gmt":"2020-01-09T18:18:30","slug":"2019-real-estate-recap","status":"publish","type":"post","link":"http:\/\/www.homewithrob.com\/?p=1541","title":{"rendered":"2019 Real Estate Recap"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">2019 was a year of change both nationally and in the local real estate market. Nationally, sales of existing homes were up 4.6% and home prices were up 3.5%. Locally, our market was very similar, as 2019 saw more homes for sale, and modest appreciation. Both of these were welcome after a few years of historic lows for inventory and rocket-powered price escalation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What is fueling the continued interest in real estate? Interest rates made a move back down after several months of increases. Buyer&#8217;s incomes have increased, leading to an all-time low payment as a percent of income of 15.2%. Part of this is buyers being more frugal and less willing to extend themselves. This has driven strong demand for house under $300,000 where quality inventory remains challenging.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">New construction saw a resurgence with permits issued at the highest level since the start of the economic decline in 2007.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Millennial buyers are purchasing  their first of second homes, and Gen Z buyers are starting their first home search. 35% of homebuyers in 2019 were under 35 years old.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Check out the graphic below for some more interesting facts.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"791\" height=\"1024\" src=\"http:\/\/www.homewithrob.com\/wp-content\/uploads\/2020\/01\/RealEstateRecap-791x1024.png\" alt=\"Infographic of interesting facts about the 2019 real estate market.\" class=\"wp-image-1542\" srcset=\"http:\/\/www.homewithrob.com\/wp-content\/uploads\/2020\/01\/RealEstateRecap-791x1024.png 791w, http:\/\/www.homewithrob.com\/wp-content\/uploads\/2020\/01\/RealEstateRecap-232x300.png 232w, http:\/\/www.homewithrob.com\/wp-content\/uploads\/2020\/01\/RealEstateRecap-768x994.png 768w, http:\/\/www.homewithrob.com\/wp-content\/uploads\/2020\/01\/RealEstateRecap-648x839.png 648w, http:\/\/www.homewithrob.com\/wp-content\/uploads\/2020\/01\/RealEstateRecap-148x192.png 148w, http:\/\/www.homewithrob.com\/wp-content\/uploads\/2020\/01\/RealEstateRecap.png 1275w\" sizes=\"auto, (max-width: 791px) 100vw, 791px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>2019 was a year of change both nationally and in the local real estate market. Nationally, sales of existing homes were up 4.6% and home prices were up 3.5%. Locally, our market was very similar, as 2019 saw more homes for sale, and modest appreciation. Both of these were welcome after a few years of &hellip; <a href=\"http:\/\/www.homewithrob.com\/?p=1541\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">2019 Real Estate Recap<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[46,126,32,47,123,98],"class_list":["post-1541","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-ann-arbor-real-estate","tag-brighton-real-estate","tag-dexter-real-estate","tag-pinckney-real-estate","tag-real-estate","tag-whitmore-lake-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=\/wp\/v2\/posts\/1541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1541"}],"version-history":[{"count":1,"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=\/wp\/v2\/posts\/1541\/revisions"}],"predecessor-version":[{"id":1543,"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=\/wp\/v2\/posts\/1541\/revisions\/1543"}],"wp:attachment":[{"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1541"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.homewithrob.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}