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3800 American Blvd West, Suite 740 Bloomington, MN 55431
(952) 897-0447 - T
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RE/MAX National Housing Report: Summer Starts with Home Sales Heating Up

For the 4th month in a row, June home sales rose higher than sales in the previous month, according to the July 2014 RE/MAX National Housing Report. Closed Transactions in June were 4.5% higher than May transactions, and 1.95% lower than transactions in June 2013. The 1.95% year-over-year difference is the closest that sales activity has come in 2014 to matching the rapid rise seen in the selling season of 2013. While both credit availability and inventory remain tight, June home prices continued to rise higher, with a 9.6% increase over the same time last year. Inventory is beginning to show signs of improvement, as June is the 3rd month in a row with more homes for sale than the previous month. At the rate of home sales in June, the Months Supply of Inventory increased to 4.1, where a supply of 6.0 indicates a market balanced equally between buyers and sellers.

This is an excerpt from the July 2014 RE/MAX National Housing Report. See the full report here.

This post originally appeared on

RE/MAX Agents, Brokerages Excel in Industry Report

DENVER – RE/MAX brokerages outnumbered competitors and RE/MAX agents out- produced them in the RISMedia 26th Annual Power Broker Report. Of the 1,000 brokerages who qualified for the extended version of the survey, nearly 30 percent, or 292 brokerages, were RE/MAX affiliates. That is more than any other brand in the report which ranked participating brokerages by total 2013 home sales.

“RE/MAX Associates are known to be productive entrepreneurs who provide a high level of customer service,” said Margaret Kelly, RE/MAX CEO. “As a result, they earn a positive reputation and their business grows through word-of-mouth referrals.”

The Power Broker Report also shows that participating RE/MAX agents averaged 18 transaction sides, more than double the eight that competing agents averaged. In sales volume, RE/MAX agents averaged slightly more than $4 million, while the average competitor sold 60 percent less at just under $2.5 million.

The average transaction sides per agent for national franchise competitors included: Realty Executives 12.8, ERA 9.5, Coldwell Banker/NRT 9.1, Century 21 8.6, Berkshire Hathaway HomeServices 7.5 and Keller Williams 7.4.

In April, RISMedia released a preliminary 500-brokerage Power Broker Report yielding similar results. Short list or long, RE/MAX agents measure up in productivity. Additional metrics from the complete 1,000-brokerage version show:

  • Forty-five of the top 50 brokerages are RE/MAX when ranked by most transaction sides per agent.
  • Comparing 2014 to 2013, RE/MAX agents increased their average sales volume by 17.6 percent and average transaction sides by seven percent.
  • RE/MAX accounted for eight percent of the agents in the report, but closed 15.7 percent of the transaction sides.

RE/MAX agent productivity also was highlighted in two additional reports this year. The REAL Trends 500 data shows RE/MAX agents in the survey averaged 17.8 transaction sides while all other competitors averaged 8.4. RE/MAX agents also averaged $3.9 million in sales volume, 60% higher than the $2.5 million average of all other agents in the survey.

Similarly, RE/MAX had the most top home sellers in the 2014 REAL Trends The Thousand, as advertised in the Wall Street Journal. Among the top 250 agents and top 250 teams ranked by transaction sides, RE/MAX agents held the most places with 112 Associates listed.

Note: Rankings calculated by RE/MAX based on 2014 RISMedia Power Broker Report of the largest 1,000 participating real estate brokerages as ranked by 2013 residential transaction sales.

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RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 94,000 agents provide RE/MAX a global reach of more than 95 countries. Nobody sells more real estate than RE/MAX.

RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a subsidiary of RE/MAX Holdings, Inc. (NYSE:RMAX).

With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $140 million for Children’s Miracle Network Hospitals®, Susan G. Komen® and other charities.

For more information about RE/MAX, to search home listings or find an agent in your community, please visit

Immigrants Are An Extremely Important Force In The US Housing Market

Immigration policy is one of the mostly hotly debated issues in the country.

From the perspective of the U.S. housing market, evidence shows that immigration is very positive.

Immigrants create demand, they clear out undesired inventory, and they improve crime-ridden neighborhoods.
Immigrants Create Demand

When existing American homeowners sell their houses and buy new ones, they aren’t creating net new demand. Within the U.S. housing market, they are simultaneously becoming buyers and sellers. They fill one home by vacating another.

Immigrants moving in to the country, however, are creating net new demand for homes, either as renters or buyers.

The immigrant population is expected to grow by about 800,000 to 1 million people per year, Chris Porter at John Burns Real Estate Consulting told Business Insider, citing data from the U.S. Census Bureau’s population projection.
Home Ownership Among Immigrants Shouldn’t Be Ignored

Homeownership rates aren’t very high for new immigrants, especially relative to those born in the U.S. But over time, ownership rates for households where the head was foreign born can go up to 54-55%.

"Assuming that net immigration of 1.2 million … persists for 10 years, the model estimates that after ten years new immigrants will … account for more than 900 thousand home owners," said the NAHB’s Natalia Siniavskaia in a 2012 paper.

The biggest obstacles to homeownership among immigrants is lack of assets and and elevated uncertainty about how long they can be in the country, said Duke University professor Jacob Vigdor.

Because of this, new immigrants tend to be renters rather than buyers. In other words, they are expected to contribute more to multi-family construction in the near term, than single-family units. Obviously, wealthier immigrants have a more favorable impact on the demand for single-family units.
Immigrants Fill Obsolete Houses And Help Raise Values

As the U.S. housing market has recovered, supply has become increasingly tight. Of the available homes, and increasing share can be characterized as “obsolete,” said CoreLogic Mark Fleming. This refers to “properties that are no longer desirable because their characteristics do not match what buyers are looking for in a home.”

However, immigrants have been helpful in clearing this undesired inventory. Importantly, they help to raise the value of homes in these undesired neighborhoods.

"Immigrants chose these neighborhoods because housing was least expensive, and they reverse the trends that led to inexpensiveness," said Vigdor, a professor of public policy and economics. "By reducing vacancy, they reduce crime."

He pointed out that immigrants have done this in the outer boroughs of New York like the Bronx, Brooklyn, and Queens. He points specifically to improvements in neighborhoods like Morrisania in the Bronx and Canarsie in Brooklyn.

Immigrants are sometimes blamed for crowding workers out of the labor market. However, we can’t ignore the job creation that come with increased demand for more homes and higher home values.

Article from Business Insider

RE/MAX has once again been listed as the highest ranking real estate franchise in Entrepreneur magazine’s 2014 “Franchise 500”

RE/MAX has once again been listed as the highest ranking real estate franchise in Entrepreneur magazine’s 2014 “Franchise 500”

RE/MAX National Housing Report: Home Sales Rise, Prices Follow Seasonal Trend

For the 3rd month in a row, May home sales rose higher than sales in the previous month, according to the June RE/MAX National Housing Report. While May sales were 11.5% higher than April, they remained below the same period last year by 9.9%. Only three of the 52 metro areas included in the May survey experienced lower sales than the previous month. Home prices continued to push higher in May, with a 7.7% increase over May 2013, which is a greater increase than the 5.8% rise seen in April. While both credit availability and inventory remain tight, May became the 6th consecutive month with fewer year-over-year inventory losses than the previous month. At the rate of home sales in May, the Months Supply of inventory dropped to 3.8, where a supply of 6.0 indicates a market balanced equally between buyers and sellers.

this post originally appeared on

Out-State Housing Report: Southeast MN

The out-state housing report for the Southeast MLS in Minnesota is now available.This eye-catching report shows year-over-year data for May in regards to number of homes sold, average sold price, as well as days on market.

Southeast MN

this post originally appeared on

The Facebook Secret Nobody Knows

RE/MAX National Housing Report video for May 2014 (April data)

Check out this quick video to compare national housing data from this April (number of homes sold, median home price, days on market, and number of homes for sale) to data from last April (2013).

Click here to view the video in a separate tab.

RE/MAX North Central Releases Out-State Housing Reports

Out-state housing reports for Southern Minnesota and South Central Wisconsin are now available. These reports show year-over-year data for April in regards to number of homes sold, average sold price, and new this month…days on market.

Southern Minnesota
The Southern Minnesota area saw a 12% decrease in the number of homes sold, down from 843 in 2013 to 742. Average sold price in down just 2% from $139,203 in 2013 to $135,923. Average days on the market barely changed at 40 in 2013 to 39 this year.

View the Full Report for Southern MN

South Central WI

The South Central WI market had homes sold in the area down slightly, decreasing 6.69% from 3,754 in 2013 to 3,503. However, average home prices held pretty steady increasing only .11% from $176,963 in 2013 to $177,160. Days on market decreased quite significantly from 146 days in 2013 to 131.

View the Full Report for South Central WI

Content originally appeared on soldsignblog

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In honor of our Veterans, wishing you a happy Memorial Day

Chris Schwartz Explore opportunities with RE/MAX by contacting:
Chris Schwartz - RE/MAX North Central
3800 American Blvd West, Suite 740 Bloomington, MN 55431
(952) 897-0447 -T | (952) 897-0448 - F | Email me:

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