Home Prices, Zillow, Brussels Explosions

March 22, 2016

Tuesday – March 22

The Federal Housing Finance Agency reported on Tuesday that home prices rose 0.5% in January from the previous month on information from mortgages sold to, or guaranteed by Fannie Mae and Freddie Mac. Lower inventory of homes coupled with rising demand are a few of the factors behind price appreciation. From January 2015 to January 2016, prices were up 6.0%.

So when is the best time to list your home for sale? Stan Humphries, chief economist at Zillow, an online real estate data base company, say that it’s early May. The reasoning is that with inventories being tight and with a lot of homebuyers putting in multiple offers, it is extending the spring selling season. Zillow went on to say that buyers later in the season are more eager to buy because they have been frustrated with earlier offers, so they may tend to pay a higher price to purchase a new home.

Two deadly explosions rocked the city of Brussels in Belgium early on Tuesday morning, targeting its main airport of Zaventem and the city’s metro system. At least 31 people have been confirmed dead with the death toll rising. Responsibility for the horrific attacks have not yet been claimed. In the airport, a suicide bomber was the cause behind that blast.