How long does it take to sell a house in America?

How long does it take to sell a house in America? The latest data is: 3 weeks. Let's talk about how long it takes to sell a house in the United States now. Let's take a look at the real estate market in America.

According to the statistics of the American Association of Realtors (NAR), the speed of this shot has set the fastest record in 30 years. Five years ago, when the American real estate market had not fully recovered from the financial crisis, the median was 1 1 week.

Zou, the agent of Buffett's Berkshire Hathaway Real Estate Service Company (hereinafter referred to as "Boha Real Estate") in Seattle, told the First Financial Reporter that in the past year or two, basically all the houses below $6,543,800 were snapped up at a higher price.

"A customer took a fancy to a $700,000 house, and he increased the price by $65,438+00,000. In the end, he was the last bidder, with 65,438+02 buyers bidding more than $750,000. " Zou Zijie said.

According to the latest data 165438 released by the US Department of Commerce on October 27th, the seasonally adjusted annualized value of new home sales in the United States in June was 685,000 sets, which was significantly higher than the market expectation of 625,000 sets, up 6.2% from the previous month and the highest level since June 2007.

According to the report released by the research department of CITIC Securities, the sales ratio of US Treasury bonds is in a benign range of 4-5 months, and the 30-year mortgage interest rate has slowly dropped from the high point of 65,438+at the end of February last year to around 4.2%. It is expected that the US real estate market can still maintain moderate expansion, but the period of rapid growth has passed.

Interestingly, because the housing market is in short supply, the full amount of cash has become a major advantage of grabbing a house. As a result, the local market reversed: more and more Americans began to buy houses in full to increase their advantage in bidding; Due to foreign exchange control and investment considerations, foreign buyers, mainly from China, are increasingly choosing loans to buy houses.

Inventory is tight and house prices are rising.

On the whole, the reason why American real estate is so hot is because of tight inventory and relatively good economic performance.

NAR data shows that US inventories decreased by 3.3% compared with last year 10, which has been declining for 29 consecutive months. Lawrence Yun, chief economist of NAR, said that the shortage of real estate supply and the growing economic and employment data are the main reasons for the high willingness to buy houses. According to him, in the past few years, about 6.5438+0.2 million new houses were put on the market every year in the United States, but so far this year, only 800,000 new houses have been built, much less than in the past.

Jeffrey S. Detwiler, CEO of American Long Foster Company, also said that the East Coast real estate market mainly covered by the company is in short supply, and the supply is reduced by 65,438+03% ~ 35% compared with last year. "Even if the current supply increases by 10%, the market can digest it quickly."

Carrie Law, CEO of juwai.com, a global Chinese international real estate platform, said that the recent hot housing market in the United States was also affected by Hurricane Harvey, especially in Houston. The hurricane destroyed a large number of local houses, further aggravating the imbalance between supply and demand.

Due to the shortage of American real estate market, in some popular areas, the three-week sales time can even be called "unusually long". "If we sell a house in three weeks, there must be something wrong." Darlene Umina, a real estate agent in Boston, USA, said, "Recently, you can often know whether the price offered by the seller is appropriate in the first week."

In September this year, John Kasprzyk sold his house in Waltham, Massachusetts in less than 1 week. In less than four days, he received 1 1 letters of intent to buy a house, including a letter of intent to buy a house in full, and the price was $465,438+$00,000 higher than his original offer.

According to juwai.com's statistics, the top five investment areas that China buyers are most interested in are Seattle, Los Angeles, new york, Houston and Boston. As far as the purpose of buying a house is concerned, self-occupation accounts for 62.4%, investment accounts for 5 1. 1%, education accounts for 14.7%, and housing immigrants account for only 3.2%.

Although the overall trend is upward, the phenomenon of uneven heat and cold in the housing market in the United States is still significant. Popular places have long presented a seller's market, while most other state and city markets have developed in accordance with the trend of alternating seller's market and buyer's market, which shows the usual cycle of American real estate.

According to NAR data, the median house price in the United States increased by 5.5% during the period of 10 compared with last year. Wu Guanghui, the business director of juwai.com China District and an American licensed broker, told the First Financial Reporter: "The price increase of 4%~6% is a stable rising range, which has been rising for 68 months."

Chen Zihong, the Asia-Pacific business director of Fu Rong Real Estate in the United States, told the First Financial Reporter that in Seattle and San Francisco, the inventory in the market is relatively tight, and it is common to increase the price when buying a house. These places have always been popular places for China people to buy houses. According to his experience, in North Carolina, a house usually receives quotations from 7-8 buyers and pays the deposit within 24 hours.

"Although the overall real estate market in the United States is on the rise, there is no phenomenon of grabbing houses in some places in central China. With China people's understanding of the US market, these cities with lower prices may gradually enter the vision of China people in the future. " Chen Hongming said that after US President Donald Trump took office, many people thought that the real estate industry would not go downhill, because the president himself owns a lot of real estate, and now his optimism about the housing market is more common.

cash is king

In addition to paying higher housing prices, in order to get the house they want smoothly, buyers must also prepare the loan pre-approval letter and other materials in advance, be prepared to sacrifice weekends and nights, and be prepared to fight for the house at any time. However, no matter how good the material preparation is, it is not as competitive as the full cash payment.

In the past six months, Meagan Freeman and her boyfriend have been looking for a suitable house in Seattle, but the house she likes has been taken away by cash buyers several times. She said that in the last two weeks, this "robbed" situation happened three times. The 27-year-old young couple said that they deliberately chose a house in June when the local housing market was not too hot, 165438+ 10 and the less popular suburbs, but they were beaten by full-price buyers.

Elliot Ngok (a pseudonym) made a choice this year and immigrated from Beijing to Houston with her children. She told the First Financial Reporter that her bid was not the highest during the house inspection stage, but she finally succeeded in buying her favorite house from more than a dozen families with the advantage of all cash.

Earlier this year, Umina, a real estate agent in the Boston area, had to stand outside the house to receive interested buyers when selling the house, because the house was crowded with people looking at the house. For that house, she always receives 18 letters of intent, three of which have been paid in full.

According to data from Attom Data Solutions, an American real estate data provider, in 20 17, the proportion of Americans buying houses in cash reached 28.8%, higher than last year's 28.6% and higher than the level of about 20% since 2000. But from 20 1 1 to 20 12, the proportion of buying a house in cash is higher, reaching the peak of 40%.

The situation of buying a house in cash not only occurs in popular areas, but also pervades those relatively deserted markets. In Boise, the capital of Idaho in the northwest of the United States, according to the data of local agents, in June this year, 5438+ 10, more than 20% of houses with a total price of less than 250,000 dollars were traded in cash, which was significantly higher than last year's 15%. Michael brown, Boise's real estate agent, said that he saw a large number of buyers from other places this year: "Many people sold high-priced houses in California, Washington, Utah and other places, and then bought lower-priced houses with cash."

Foreigners increased loans to buy a house.

Sanjeev verma is a real estate agent in north-central California. Like most brokers in China, 90% of clients in verma are foreign buyers.

At the recent Shanghai International High-end Real Estate Exhibition, verma told China Business News that his foreign clients are Indians, Russians and Spaniards, but few of them are from China, so he also wants to find China buyers through the exhibition in China. His Sacramento is not the most popular place for China buyers, and the market is relatively deserted. Basically, the seller's market and the buyer's market alternate, and there is no price increase or queuing. However, he said that his performance is growing at a rate of more than 20% every year, and his annual income in the past two years has reached six figures (about several million RMB), twice that of previous software engineers. The secret is that he provides services for foreign buyers to apply for loans.

Keith Chen is a California real estate agent in Los Angeles, and 95% of his clients are from China. He told the First Financial Reporter that the business growth rate in the past two years was lower than that in 20 15 years, because foreign exchange control "could not get money". Due to loan restrictions and other reasons, 95% of China property buyers can only buy a house in full.

Lena Tan, a real estate agent in Florida, is also dominated by China buyers. Most buyers buy houses in full, but her business has not been affected by foreign exchange control, but has grown significantly. She told the First Financial Reporter that there were two main reasons. First, local housing prices are lower than those in popular places such as California and new york, but the rental return rate is higher, which means opportunities for investors. Second, she has a way to help buyers solve foreign exchange problems.

Peter Turtzo, senior vice president of Baohe-Harbin Real Estate International Business Department, told the First Financial Reporter at the above exhibition that due to foreign exchange control, more and more China people began to apply for loans when buying houses in the United States. At present, from the overall data of foreign buyers, almost half of them are loans to buy a house, and half are full cash. In order to help them get loans, Hubble Real Estate Company began to cooperate with its sister company Homeservice Landing this year to provide loan services for foreigners.

According to the tax reform plan currently launched by the Trump administration, the tax reduction and exemption of future housing loan interest rates will be limited. At present, individuals with interest loans below $6,543,800 can enjoy tax relief, but the new bill may adjust the upper limit of the loan amount that can enjoy tax benefits to $500,000. Therefore, some people worry that once the tax reform is passed, it will have a negative impact on the US high-end real estate market. However, the above brokers contacted by the reporter all said that it is still too early to talk about the impact of tax reform. After all, the details of the tax reform have not yet been finalized, and it will take some time for the market to react from confirmation to implementation.