Press – News – Mentions

April 3rd, 2015.

The Omaha Metro’s housing market is booming compared to the recent past. In fact, home sales are up 13% compared to just this same time last year. It’s easy to see that 2015 is off to a strong start. That’s good for sellers, good for buyers, and good for Omaha’s local economy. We’re seeing that interest rates are continuing to stay lower and therefore keeping buyers in the market. That leads to a low housing inventory in the area. And from there, it’s simple Economics 101: Supply & Demand. With a low supply of homes and a large demand from buyers, we’re seeing a fantastic trend for sellers.

With houses “flying off the shelves”, as Jeff Cohn- owner of Omaha’s Elite Real Estate Group with Berkshire Hathaway HomeServices Ambassador Real Estate, puts it, sellers are getting great prices for their homes. On average, sellers can expect to get around 98-99% of their asking prices if a home is in a desirable location, in great condition, and priced appropriately. Cohn also goes on to say that Omaha’s sweet spot are homes priced in the $150-250,000 price range. How long is it taking to sell these kinds of homes? Months? Weeks? Try days and even hours.

“I don’t think we’ve seen inventory this low in over eight or nine years, our group has sold over 200 properties already in 2015 alone.”, said Cohn. He then went on to say, “A lot of the houses we list, literally we’ll put a sign in the yard and have multiple offers within 24 hours.”

Omaha’s economic health can be largely judged by how the local housing market is trending. With so many companies and jobs tied to real estate, it’s a great indicator that the metro economy is on the right path.

Real estate experts are focused particularly on the “Millennial” Generation right now. Economists are finding that this generation is now entering the housing market with full force. Many people that fall within the age range of this generation are hitting a stride in their careers, thus giving them more income to put towards things like purchasing homes. It’s forecasted that the Millennials will be the driving force of real estate sales for the foreseeable future, much like the “Baby Boomer” Generation has in the last several decades.

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