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Feb. 5, 2020

Decade Review

 

At the beginning of the new year and new decade, it’s worth reflecting on the past year and past decade in the housing market.

We’ve spent more than 10 years recovering from the housing bubble that burst in 2006.  That was the peak of the market when 20% annual price increases came to a halt.

Consider that the median price for a home in 2002 in Anne Arundel County was $189,000!

By 2006, at the peak of the market it was $344,100! That’s an 82% increase in 4 years!

The market hit bottom in 2011 with the median price down to $280,000—a 22% drop in prices. 

To put things in perspective, it was not until this year that the median price for houses exceeded the median price of homes at the peak in 2006 (355,000 in 2019).

Think about that, it has taken 13 years to get back to where we were with housing prices in 2006!

Let’s turn to more recent times.  We’ve seen appreciation approaching 4.0% annually since 2016 and almost a 4.5% in prices in 2019.  Considering that inflation (CPI) has barely exceeded 2.0% during that same time, homeowners have benefitted nicely.   So, it’s a good time to sell, if you are considering doing so and the horizon for buyer’s continues to look good from a personal wealth standpoint as well.

Given the continuing relatively constrained housing inventory, housing prices are likely to outstrip inflation for some time, though fortunately any return to the excesses of the early 2000’s seems extremely unlikely at this point. 

 

Mike Davis

Download here

Posted in market update, Newyear
Dec. 30, 2019

New Year's Game

 

What an awesome game to play this new year with your friends and family.

 

This game is a big hit for New Year’s Eve. It’s a great way to get the party conversation started with questions like: Best Song of the Year, Best Movie of the Year, Most Embarrassing Moment, etc. The questions will get your friends and family thinking back on their favorite moments of the year. Some of their answers will get the crowd roaring, while others will make everyone reflect. It’s pretty great to find out why everyone laughed the hardest they did all year long. And one of my favorite questions is Best Piece of Advice You Were Given This Year.

Just put all the cards in a glass bowl and pass them around. Each guest picks a card and they have to answer. Then throw your card back in and pass around again!

Free download here.

 

Original by https://www.aliceandlois.com/

 

Posted in Newyear