P. Dennis Connelly

Update on Real Estate Trends

couple standing in front of home

By: P. Dennis Connelly at CRS Long & Foster Real Estate Hi Everyone, It’s hard to believe we’re more than halfway through 2019. For those of you who are thinking of buying or selling a home this year, you might be wondering how the real estate market has shaped up so far this year. While all real estate is local, a few trends have emerged nationwide. Inventory shortages, Baby boomers are choosing to age-in-place and aren’t downsizing at the anticipated rate, so their homes are not opening up for new buyers. Concurrently, homeowners who refinanced or purchased their home with […]

Read More

Facts About Owning a Home in America

By: P. Dennis Connelly at CRS Long & Foster Real Estate In celebration of National Homeownership Month, recognized by the National Association of Realtors each June, I wanted to share with you a few facts about owning a home in America today and the current real estate market conditions. Homeownership rates are holding steady. In the first quarter of 2019, the homeownership rate leveled off at 64.2 percent, down slightly from the quarter prior. While rates have been rising since late 2015, they’ve hovered around the 64 percent range for the past year. Today’s homeownership rate represents a healthy market. […]

Read More

More Americans are Using Real Estate Agents Than Ever Before

realtor and clients

By: P. Dennis Connelly, CRS Long & Foster Real Estate More Americans are using real estate agents to buy and sell their home than ever before, even among the younger generations. A new Harris Insights housing consumer study, which was underwritten by the California Association of Realtors, The CE Shop and REAL Trends, shows a full 90% of consumers use real estate agents to buy and sell their homes. This is a survey high and is up 5 percentage points from the last study in 2014 and up 9 percentage points from the first study conducted in 2001. The study asked the opinions of 1,000 people […]

Read More

The Do’s & Don’ts of Downsizing Your Home

men carrying boxes

The kids are grown and out of the house and maybe even having kids of their own now. The home you’ve had for a couple decades has served you well, but suddenly it’s a bit big for what you need. When you’re still working and healthy, it might be the right time to consider downsizing to a smaller home and a simpler life. By 2030, the population over 65 will increase by 80 percent as baby boomers age, the oldest of which turn 70 this year, according to the National Association for Senior Move Managers. Many boomers are proactively decluttering […]

Read More