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New numbers showing sales of investment homes surging

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  • Description

    Real estate expert Katrina Campins explains

  • Duration 3:50
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Well could -- -- -- good -- for the housing market sales of vacation.

An investment home surging last year buyers not apparently passing up those bargain prices real estate expert Katrina and -- -- credit to Katrina she said this would be the first thing you'd start seeing on is there a connection between that and then general realistic -- What I think we have this first look at the -- -- housing market and how we're doing at this at this present moment.

And if we compare sales of this year and this February with sales of last February were actually up eight point 8%.

So we've seen it wouldn't what's the update -- sales -- set up right.

From this AC units are not talking -- -- -- -- now have -- go into the vacation got in a second but we have a six point four months' supply.

So our industry standard is a six month supply meaning that once we dipped below the six month supply we Begin to see slight price appreciation.

Now in my belief I think by the end of this year we continue at this pace we actually will Begin to see a slight price appreciation I think.

The reason for that car.

Unemployment is -- A four year low from 2000.

And so people have -- jobs obviously they can afford more housing I think interest rates are are still low relatively speaking.

I've also experienced that buyers if you're a lot more serious so last year they would call you and say I wanna deal I'm not gonna move until I get a deal.

Now you've seen those buyers move -- and actually work really hard in order to close those deals.

But the investment properties of vacation properties Florida a -- neck of -- -- and you all over the country but I mean -- it.

What turned or has something -- there.

Yes and what's happening there is this.

Some people can no longer afford their homes because they don't have jobs for investors are coming and they're scooping up those homes of Bank of -- actually testing without right now.

Where they're actually swapping -- and then what happens is an investor will come -- they'll buy that property.

And that property will now become a rental property for them and that's the reason why we're beginning to see a -- rally in the market come buying.

Wait a demand in housing.

So both of them are going up at the same time I think it's a win win situation for the real estate market in general not to mention that housing is really the last piece of -- proposal.

In order -- even -- Before right I mean which you you know you get these had -- well it's it's looking up and and then something happens -- but the numbers are mind we have seen an upwards -- I'm not saying.

That you spoke about a six point four months' supply whatever was right what was it at -- worse.

It was up about twelve outlined -- act so 600 -- -- And now we're seeing a six point four months' supply so -- -- but it -- price is right and ensure you could so something is to not to enhance what some price some for prices are going.

More and and like for instance South Florida is doing great New -- doing great there's certain markets yeah that's always been.

Hasn't New -- -- philly's been great why is -- academy -- -- no place like New York let's face it.

I think there are also going to be markets like Cleveland for instance where.

They're never gonna see a price levels that they saw during the -- why because the jobs are no longer there IE manufacturing.

So I think that we're seeing an IE and upwards trend all of in the nation at some markets -- -- do better than so using this is taking hold and will.

I do I do and -- where -- -- and I think ostrich at home.

And so we're starting to see -- change.

In homes you know in home prices and I think that the last piece of the puzzle for the economy knocked on and I think he went -- should run for president.

No I don't vote for you -- -- Ellison.

It said it matters it -- but Katrina thank you very very easily seen she's been uncannily presage even on this presidential election -- aren't in the.

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