The Columbia SC housing outlook continues to remain positive. The Commerce Department released information confirming that the sales of newly built homes rose more than 5% in July. In addition, prices for new homes were up. Homebuilders cite two reasons for the recent higher traffic and sales activity:
1.) The much anticipated rate increase by the Federal Reserve
2) Lower new construction home prices to more closely match mortgage demand
Columbia SC Housing Market Could Cool Down
Despite this summer's success, some analysts warn that recent market volatility may be creating a slowdown in the Columbia SC housing market. Some homebuilders aren't quite as bullish on the remaining months of 2015.
The recent instability in the global economy — specifically China's stock market woes — has made the expected rise in the Federal Reserve's federal funds rate less likely. While on the surface that's a good thing, Columbia SC area housing experts fear the lack of movement in rates will result in a reduced sense of urgency in prospective homebuyers.
Home prices have remained relatively high, too, buoyed in part by the regained consumer confidence in the stock market after a shaky week following China's record market plummet. Despite expected rates remaining unchanged, homebuilders say consumer caution will trump interest rates.
Ironically, a rise in interest rates would potentially have given the Columbia SC housing market a boost. Historically, such an event signals an end to the "good old days" as homebuyers move to finally purchase before rates increase further.
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The Columbia SC housing market is doing better than expected. According to recently-released Commerce Department statistics, new home sales across the country enjoyed a 25% percent increase in July, 2015 compared to the same month a year ago.
Columbia SC Housing: A Seller's Market
It's a seller's market, evidenced by these characteristics:
- Higher sales prices across the board for all single-family homes. In the classic definition of a seller’s market, home sellers have the upper hand in that there are more buyers in the market than sellers. Higher prices result result from the excess of housing demand versus housing supply.
- Sellers are receiving multiple bids for their properties. Home sellers and real estate agents report some homes are receiving “dozens” of offers as prospective buyers jockey for position to buy before somebody else does.
- Sellers are being offered added incentives by buyers to take their offer. Potential purchasers are offering enticements to home sellers in the hope they will accept their offer over others competing for the same home in the Columbia SC housing market. Reports of buyers offering round-trip vacations, timeshare weeks and other incentives aren't uncommon.
Another strong sign of the recovery is that roughly 1 in 5 homebuyers are paying in cash, down from a high of 40% in 2013. What this means to the Columbia SC housing market is that fewer investors are buying, leaving room in the market for serious homebuyers looking for primary residences.
Finally, industry experts say that the current uptick in the market seems to be fueled by buyers that can afford to buy homes, an indication that the Columbia SC housing market is enjoying a recovery that is real and tangible, not an artificial inflated boon as seen in other times.
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When you grow up immersed in a technological world, it’s only natural that you come to rely on and expect even more Columbia SC home technology. Prospective millennial home buyers — that segment of the population in the 25-35 age range — are becoming more interested in homes with smart technologies and the latest gadgets.
Experts predict that by 2020, smart home sales will account for over $200 billion in revenue. Millennials who own homes with smart home features was pegged at 29% in 2014 and that number is expected to increase to 66% in the next three years.
It is expected that women will likely increase the demand for smart home technology. In a recent survey more than 60% were very interested in smart homes. Women surveyed said Columbia SC home technology could save them time and increase the feeling of safety for them and their families. So far, the big cost of Columbia SC home technology seems to be the biggest drawback, yet millennials are confident that, as is the case with most emerging home features, the cost will become more affordable as features improve and the technology is more plentiful.
Examining Features of Columbia SC Home Technology
There are a number of features that millennials seem to agree they’d like to see in home technology:
1) Touchless kitchen and bathroom faucets. Because of the rise in popularity in public restrooms and other places, young homeowners expect the convenience of this advanced technology.
2) An open and airy floor plan. Probably in part to a growing trend in the office workplace, many millennials like the side open spaces of rooms that feature less walls and more inviting, open living.
3) Google Nest thermostats. Motivated by a desire to be more "green" and energy efficient, millennial homebuyers like fully programmable thermostats. This "set it and forget it" technology is popular because it can be implemented without hiring an electrical contractor and devices such as smartphones and tablets can be used to conveniently control their usage.
4) Multiple master suites. Young millennials like more than one master suite, and especially like to provide private bathrooms for their house guests or visiting family.
5) USB wall outlets. USB wall outlets are becoming more prevalent and more popular since young buyers rely so heavily on their digital devices requiring quick and convenient charging sources.
6) Quartz countertops. Because they require little maintenance and are easy to keep clean, quartz counter tops are more popular than ever. And, because they're cheaper than granite, millennials like their brand appeal and modern good looks.
7) Key-less, fingerprint activated door locks. Keys are fast becoming a thing of the past as automobiles, digital safes and smartphone and tablet technology is gravitating toward fingerprint recognition. Fewer keys to keep up with and less codes to remember are attractive features for millennials looking for more convenience provided by their Columbia SC home technology.
Find more articles pertaining to Columbia SC home technology, check out other articles under our Columbia SC Real Estate section to your right just below our Columbia SC Real Estate Categories.
We also post tips on Facebook and Twitter. Follow us in both places for many other Columbia SC home technology related tips as well.
When you grow up immersed in a technological world, it’s only natural that you come to rely on and expect even more Columbia SC home technology. Prospective millennial home buyers — that segment of the population in the 25-35 age range — are becoming more interested in homes with smart technologies and the latest gadgets.
Experts predict that by 2020, smart home sales will account for over $200 billion in revenue. Millennials who own homes with smart home features was pegged at 29% in 2014 and that number is expected to increase to 66% in the next three years.
It is expected that women will likely increase the demand for smart home technology. In a recent survey more than 60% were very interested in smart homes. Women surveyed said Columbia SC home technology could save them time and increase the feeling of safety for them and their families. So far, the big cost of Columbia SC home technology seems to be the biggest drawback, yet millennials are confident that, as is the case with most emerging home features, the cost will become more affordable as features improve and the technology is more plentiful.
Examining Features of Columbia SC Home Technology
There are a number of features that millennials seem to agree they’d like to see in home technology:
1) Touchless kitchen and bathroom faucets. Because of the rise in popularity in public restrooms and other places, young homeowners expect the convenience of this advanced technology.
2) An open and airy floor plan. Probably in part to a growing trend in the office workplace, many millennials like the side open spaces of rooms that feature less walls and more inviting, open living.
3) Google Nest thermostats. Motivated by a desire to be more "green" and energy efficient, millennial homebuyers like fully programmable thermostats. This "set it and forget it" technology is popular because it can be implemented without hiring an electrical contractor and devices such as smartphones and tablets can be used to conveniently control their usage.
4) Multiple master suites. Young millennials like more than one master suite, and especially like to provide private bathrooms for their house guests or visiting family.
5) USB wall outlets. USB wall outlets are becoming more prevalent and more popular since young buyers rely so heavily on their digital devices requiring quick and convenient charging sources.
6) Quartz countertops. Because they require little maintenance and are easy to keep clean, quartz counter tops are more popular than ever. And, because they're cheaper than granite, millennials like their brand appeal and modern good looks.
7) Key-less, fingerprint activated door locks. Keys are fast becoming a thing of the past as automobiles, digital safes and smartphone and tablet technology is gravitating toward fingerprint recognition. Fewer keys to keep up with and less codes to remember are attractive features for millennials looking for more convenience provided by their Columbia SC home technology.
Find more articles pertaining to Columbia SC home technology, check out other articles under our Columbia SC Real Estate section to your right just below our Columbia SC Real Estate Categories.
We also post tips on Facebook and Twitter. Follow us in both places for many other Columbia SC home technology related tips as well.
Columbia SC investors, like many other Americans, are still a little nervous about Wall Street and recent activity in the stock market. In a recent survey, Bankrate.com reported that the majority of its respondents feel more bullish about the real estate market than other long-term investments. Characterizing long-term investments as those with a duration of 10 years or more, the survey cited real estate as the most popular investment with 27%. Twenty-three percent of those surveyed preferred cash investments (CDs, Money Market Funds, etc.), 17% preferred the stock market. Gold, silver and other precious metals were at 14% and bonds finished at 5%.
Despite the S&P 500 enjoying a 27% increase over the past two years, in general, stocks were only slightly more popular as an investment in 2015 versus 2013.
Columbia SC Investors Participate in Survey
The survey included information submitted by 1,000 adult residents of the United States and included Columbia SC investors in the questionnaire. Surveyors gleaned results based on geographic location, age, gender, and political affiliation. Women surveyed were more likely to favor cash investments offering less risk and greater security. Men were more likely to invest in real estate.
Interestingly, college graduates largely comprised the group most likely to prefer investing in stocks. Geographically, the western states favored real estate investments by a two to one margin over other investment options.
Not surprisingly, 32% of millennials (defined as those age 18-29) cited cash as their most popular long-term investment. In addition, the same percentage — 32% — of Generation Xers (those between 30-40) favored real estate, a popular choice of Columbia SC investors.
Those earning less than $50,000 per year said they felt "more secure" in their investments, while those earning $50,000 – $74,900 weren't quite as confident in their investments. Additionally, Republican respondents were three times more likely to say they felt "less secure" about their jobs than Democratic counterparts.
The July Bankrate Financial Security Index posted a positive response for the 14th consecutive monthly period, but July was the second lowest month of the year so far. Analysts attribute the ranking in part to an overall downward slide in job security. Of those surveyed, 22% felt "more secure" about their job situation than they did just a year ago, while 14% said they feel "less secure." Sixty-two percent felt "about the same" compared to a year ago.
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