Real Estate Market

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Featured Listing

For Sale: $49,500

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Market Trends

U.S. Market Data Review

Note: October data below is the most recent published by the National Association of Realtors®.

Data from the National Association of Realtors® (NAR) shows sales of existing homes grew in October to the briskest pace since early summer, but an ongoing lack of supply resulted in fewer closings for a second straight month.

Nationally, total sales of existing homes (counts completed transactions for single-family homes, townhomes, condominiums and co-ops) bumped up 2.0% to 5.48 million in October from 5.37 million in September. Despite the uptick in velocity, sales remain 0.9% lower than one year ago.

 Existing Home Sales By Region
NAR's chief economist, Lawrence Yun, indicated that October's sales activity picked up for the second consecutive month, with increases across all four major regions. "Job growth in most of the country continues to carry on at a robust level and is starting to slowly push up wages, which is in turn giving households added assurance that now is a good time to buy a home" Yun said. He added that "While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated."

Housing Data Takeaways

  • The median existing-home price (all housing types) in October was $247,000, up 5.5% from October 2016 ($234,100). October's price increase marks 68th months in a row of year-over-year gains.
  • On average U.S. properties stayed on the market for 34 days in October, unchanged from September and down from 41 days a year ago. Forty-seven percent of homes sold in October were on the market for less than a month.
  • Mortgage data from Freddie Mac shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.90% in October  from 3.81% in September. For all of 2016, the average commitment rate was 3.65%.
  • Nationally, first-time buyers drove 32% of October's sales, up from 29% in September but a drop from 33% one year ago.

Ready for Winter?

Winter is one of our favorite times of the year! It's often easy to overlook your home's needs with so many activities happening. Here is a simple checklist of items that can save you money through the winter:

  • Check for leaks and drafts around the house. Replace weather stripping and re-caulk around doors and windows. Drafty doors and windows will cool off the house and cost you money in heating bills.
  • Inspect your attic's insulation. Heat rises so adding good insulation can keep the heat from escaping.
  • Check your heating system. Sometimes something as easy as replacing your filter or having simple maintenance done can save on heating costs.
  • Consider changing from standard light bulbs to energy saving bulbs. Winter uses a lot of your electricity so even saving a little here and there will help.

Whether you live in a warm or cold climate, take this opportunity to inspect your home systems. You'll be money ahead in the long run!

Take the Perfect Holiday Getaway in an Omaha B&B

The holidays can be stressful.  Why not take some time to unwind this month in Omaha? And the great thing is that you don't have to travel far and deal with more stress!  Omaha B&Bs are sure to help you relax and forget about your holiday worries for a day or two.  And there's a perfect setting for everyone, from historic mansions to  beautiful country settings.  Here’s a few you’re sure to enjoy.

White Deer Retreat

Located just 15 minutes from downtown Omaha is the beautiful country residence of White Deer. With 9 acres of beautiful grounds and a picturesque view of the Missouri River Valley, it’s the perfect country getaway.  They also have a staff of trained health and wellness practitioners to assist with your complete relaxation and rejuvenation.  The large spacious rooms feature huge windows that let all that beauty inside so that you’re always connected with the landscape.

Bakers Bed and Breakfast

Located in nearby Blair, this historic 1900 home will take you back in time to simpler days.  The King Room is a relaxing all-in-one suite that offers a reading area with cozy recliner and a beautiful view of the surrounding countryside.  There’s even an old-fashioned spinet desk where you can catch up on some work or put on some makeup. With only two rooms, you’ll get all the great service and amazing breakfast you could want, all focused on your relaxation.

The Cornerstone Mansion

If you prefer the finer things, then why not stay in a historic mansion? This landmark home in Omaha’s historic Gold Coast District is listed in the National Register of Historic Places.  You’ll relish in the opulence of this turn of the century residence, built with no expense spared at the time. Plus the location is ideal for a great time in Omaha, with shopping and restaurants within reach.

Contact Information

Photo of Rob Washburn Real Estate
Rob Washburn
Ed Spencer Real Estate - Farms America, INC
Mall of the Bluffs
Council Bluffs IA 51503
Fax: 712-624-9251

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Our office is located at:
Mall of the Bluffs
Council Bluffs, Iowa 51503

Office: 712-322-7653
Cell: 402-981-6999
Fax: 712-624-9251

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