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US Housing Market is Moving Into 'Buy Territory'!

by keepingcurrentmatters.com

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.

The BH&J Index is a quarterly report that attempts to answer the question:

In today’s housing market, is it better to rent or buy a home?

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.” 

While most of the metropolitan markets examined moved further into buy territory (16 of the 23), markets like Dallas, Denver, and Houston are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times.

Due to a lack of inventory, the home prices in the Dallas, Denver, and Houston areas have increased by 11.6%8.3%, and 6.6% respectively. Home prices in these areas will begin to return to more normal levels once residents realize that renting is not the best option, therefore bringing home affordability back as well.

Bottom Line

The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially, as rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now.

Surviving the Storm

by Adam Watkins

The last time I recall this feeling was over a decade ago - August 29, 2005.  That date of infamy certainly has not been replaced, but Friday, January 20, 2017, will be added to 8/29/05 as a date I will never forget.  Where were you that Friday evening and early Saturday morning?  On Friday afternoon, I was on my way back to Petal from Tupelo and Corinth, MS, after having visited their respective Boards of REALTORS on behalf of our state association.  Following a busy week, my awareness of impending weather was extremely limited, I must admit.  I arrived home that evening excited to see my girls and somewhat exhausted from a busy week.  By Saturday morning, so much had changed.  An EF-3 tornado had traveled from just north of Purvis through Hattiesburg, devastating my beloved William Carey University, and beyond into Petal.  Over 1,000 homes impacted and 4 lives lost, not counting the businesses destroyed.  So much quickly changed for our community, and so much was simultaneously placed into a proper perspective.

The past couple of weeks have been consumed with recovery and clean up.  And though this is a new experience, and one I confess that I never want to relive, it's a familiar one.  Hurricane Katrina, the 2013 tornado, and now 4 years later - a larger tornado, have developed a resiliency in our area that inspires pride and confidence in our community.  We don't wish for these challenges, but let's face it.  We've been here before.  We know how to rise from the devastation, and in the process, we grow closer and stronger as a community.  It's inspiring to witness and be a part of it, and it's a reminder of the beauty and quality of South Mississippians.  If you're new to our area, I hope you'll take note of this special quality amongst our people and seize the opportunity to embrace it for yourself.  

By late Saturday and Sunday, thousands of volunteers were working to help those devastated by the events of January 20th.  Amelia and our girls gathered with our Carterville Baptist Church family that Sunday morning to worship and pray.  We were also greeted with the news that Samaritan's Purse would be basing their operations from our church campus.  Mississippi Baptists were setting up operations at Petal First Baptist, and hundreds (if not thousands) in our Hattiesburg/Petal community were rolling up their sleeves, opening up their hearts, and giving of their resources to help.  It truly has been a beautiful picture to witness and take part in.

The recovery will take months and years, but it's reassuring to know that we are a part of a community that cares, gives, and loves.  There are dozens of organizations contributing to the rebuilding of our beautiful Hattiesburg Metro.  If you're interested in serving but don't know where, teams are currently setting out daily to Hattiesburg and Petal at 7:30 a.m. and 12:30 p.m. from Carterville Baptist Church in Petal (1115 Carterville Road in Petal).  Regardless of your experience and skill, you can be used.  Won't you join us?  All you have to do is show up!  Together, we will bring Hattiesburg, Petal, and the Pine Belt home again....post 1/20, and along the way, your real estate team is ready to do its part!

Your REALTORS for life...

Adam & Team

Displaying blog entries 1-2 of 2

Contact Information

The All-Star Team, REALTORS®
Bringing you home...again and again!
4 Willow Bend, Suite 2A
Hattiesburg MS 39402
601.545.3900
800.335.6477

The All-Star Team, REALTORS brings you over 200 years of accumulated experience along with the most innovative marketing strategies in the real estate industry. We specialize in the real estate properties located in Hattiesburg, Oak Grove, Petal, Sumrall, Purvis, Columbia, and the entire Pine Belt region. Put The All-Star Team, REALTORS® to work for you as you consider your next home sale or purchase. Experience the team approach to real estate and make us your REALTOR® for life! See how The All-Star Team, REALTORS® really is bringing the Pine Belt home again and again.