Finance
Homes listed in June often sell for more than usual, a Zillow study reveals
Sellers can get $7,700 more, on average, than the original listing price if they list in the spring. (iStock)
Homeowners looking to sell this year may want to wait until June to list, when sellers tend to make the most. In 2023, homes listed in June sold for 2.3% more, according to a Zillow analysis. This equals an additional $7,700, on average, to the median sale price. Before the pandemic, May used to be the best month to list, according to Zillow. But, since 2019, June is more profitable.
“The old logic was that sellers could earn a premium by listing in late spring when their home would be on the top of the pile of listings when search activity was at its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality,” Skylar Olsen, Zillow chief economist, said.
Location impacts the exact month that’s best for sellers to list. In San Francisco, the best time to list is the second half of February, but in New York and Philadelphia, the first half of July brings higher home prices.
The table below shows 10 of the major real estate markets and when the best home listing time is within those markets:
| Location | Best Time to List | Price Premium | Profit Boost |
| New York, NY | First half of July | 2.4 % | $15,500 |
| Los Angeles, CA | First half of May | 4.1 % | $39,300 |
| Chicago, IL | First half of June | 2.8 % | $8,800 |
| Dallas, TX | First half of June | 2.5 % | $9,200 |
| Houston, TX | Second half of April | 2.0 % | $6,200 |
| Washington, DC | Second half of June | 2.2 % | $12,700 |
| Philadelphia, PA | First half of July | 2.4 % | $8,200 |
| Miami, FL | First half of June | 2.3 % | $12,900 |
| Atlanta, GA | Second half of June | 2.3 % | $8,700 |
| Boston, MA | Second half of May | 3.5 % | $23,600 |
This year in particular may be an interesting year as buyers wait to see if the Federal Reserve will drop interest rates.
“First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year,” Olsen said.
If you think you’re ready to shop around for a home loan, consider using Credible to help you easily compare interest rates from multiple lenders in minutes.
HOMEBUYERS GAINED THOUSANDS OF DOLLARS AS MORTGAGE INTEREST RATES FALL: REDFIN
Home affordability remains a hurdle for prospective homebuyers
While sellers make out well in the spring buying rush, homebuyers face record-high home prices and bidding wars.
In a recent congressional hearing, Dr. Jessica Lautz, the deputy chief economist and vice president of research at the National Association of REALTORS®, laid out the current conditions of the housing market. She explained that the annual number of home sales for existing homes is the lowest it’s been since 1995.
Buyers aren’t buying for numerous reasons. Lautz cited more frequent bidding wars and a lack of inventory on the market. As of January, the average seller receives 2.7 offers. Plus, 16% of homes that did sell were over the list price.
“First-time home buyers continue to struggle to enter the housing market lacking the housing equity that boosts the purchasing power of repeat buyers,” Lautz said. “First-time buyers accounted for 32% of primary-residence buyers last year, which remains well under the historical norm of 40%. While there is a smaller share of first-time buyers, they are also older than they have been historically.”
In the 1980s, the typical first-time buyer was in their late 20s; however, they are now in their mid 30s,” Lautz continued.
She further explained that the average first-time buyer that successfully bought a home had an income that was about $25,000 higher than those who bought last year. This creates a divide in wealth between homeowners and renters.
“The wealth held by homeowners is 40 times that of a renter,” according to Lautz. “Housing wealth can be used to help children attend college, pay for remodeling costs on the home, in retirement or even help their own children achieve the dream of homeownership.”
If you’re looking to purchase a home in today’s market, you can explore your mortgage options by visiting Credible to compare rates and lenders and get a mortgage preapproval letter in minutes.
HOMEBUYERS CONSIDERING PURCHASING TINY HOMES AND FIXER-UPPERS TO COMBAT HIGH HOME PRICES
Certain states continue to face high homeowners insurance rates
Adding to the cost of homeownership, homeowner insurance rates are increasing throughout the entire country. For a $300,000 property, homeowners insurance rose by 12% in 2023 and now averages $1,770 annually, according to Insurify data.
Certain states are getting the brunt of rising rates. Florida remains the state most affected by rate hikes, with homeowners now paying $9,213 annually, on average. Additionally, some California residents who use State Farm will have their policies pulled altogether, the company announced. About 30,000 homeowners policies, rental policies and other property insurance policies won’t be renewed.
“This decision was not made lightly and only after careful analysis of State Farm General’s financial health, which continues to be impacted by inflation, catastrophe exposure, reinsurance costs, and the limitations of working within decades-old insurance regulations,” the release said.
The non-renewals will happen on a rolling basis over the course of the next year. Beginning July 3, homeowners and renters, as well as businesses with property coverage won’t be able to seek renewal.
While homeowners insurance may be high, you can try to lower your housing costs by shopping around for low mortgage rates. Credible lets you view multiple mortgage lenders and provide you with personalized rates, all without impacting your credit.
NORTH CAROLINA’S INSURANCE RATES HIKE DENIED, RATES IN OTHER STATES STILL RISING
Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.
The uranium trade’s shelf life may last years.
According to Sprott Asset Management CEO John Ciampaglia, a “real shift” upward is underway due to increasing global energy demand — particularly as major tech companies look to power artificial intelligence data centers.
“We’ve been talking about uranium and nuclear energy non-stop for four years at Sprott, and we’ve been incredibly bullish on the segment,” he told CNBC’s “ETF Edge” this week.
Ciampaglia’s firm runs the Sprott Physical Uranium Trust (SRUUF), which Morningstar ranks as the world’s largest physical uranium fund. It’s up 22% over the past two months.
The firm is also behind the Sprott Uranium Miners ETF (URNM), which is up almost 38% over the past two months. The Sprott website lists Cameco and NAC Kazatomprom JSC as the top two holdings in the fund as of June 12.
“It’s [uranium] a reliable form of energy. It has zero greenhouse gases. It has a very good long-term track record,” Ciampaglia said. “It provides a lot of electricity on a large scale, and that’s right now what the grid is calling for.”
Ciampaglia finds attitudes are changing toward nuclear energy because it offers energy security with a low carbon footprint. Uranium is “incredibly energy-dense” compared to most fossil fuels, he said, which makes it a promising option to ensure energy security.
He cited the 2022 energy crisis in Europe after Russia cut its oil supply to the region and April’s grid failure in Spain and Portugal as cases for more secure energy sources.
“We think this trend is long term and secular and durable,” Ciampaglia said. “With the exception of Germany, I think every country around the world has flipped back to nuclear power, which is a very powerful signal.”
‘You need reliable power’
VanEck CEO Jan van Eck is also heavily involved in the uranium space.
“You need reliable power,” he said. “These data centers can’t go down for a fraction of a second. They need to be running all the time.”
His firm is behind the VanEck Uranium and Nuclear ETF (NLR), which is up about 42% over the past two months. According to VanEck’s website as of June 12, its top three holdings are Oklo, Nuscale Power and Constellation Energy.
But he contends there’s a potential downside to the uranium trade: Building new nuclear power plants can take years.
“What’s going to happen in the meantime?” Van Eck said. “Investors are not patient, as we know.”
Van Eck also thinks it’s possible the Trump administration’s positive attitude toward nuclear power could fast track development.
He highlighted nuclear technology company Oklo during the interview. Its shares soared on Wednesday after the company announced it was anticipating a deal with the Air Force to supply nuclear power to a base in Alaska.
The agreement came not long after President Donald Trump in May signed a series of executive orders to rework the Nuclear Regulatory Commission, expedite new reactor construction and expand the domestic uranium industry.
“Trump controls federal land, so that’s not a NIMBY [not in my backyard] kind of potential risk,” said Van Eck. “They’re going to leverage that hard to start to show the safety of these newer, smaller technologies.”
Finance
Amazon is selling an $800 portable power station for $550, and shoppers 'love the mobile design and durability'
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Camping is a fun summer activity. What’s not fun is having no access to electricity. You can’t charge your phone, watch TV, or make your morning cup of coffee. Thankfully, portable power stations allow you to do all that and more. It’s literally like bringing along a giant battery for all of your electronics. Portable power stations are also good to have around your home in case of power outages.
There’s just the problem of price. Portable power stations are notoriously expensive, especially ones that have a larger energy storage capacity. The good news is that we were able to find a solid deal on a 1,056-watt-hour (or 1 kilowatt-hour) power station. This $800 Anker Solix C1000 Portable Power Station is $550 at Amazon for a limited time. At 31% off, you’re saving $250.
Anker Solix C1000 Portable Power Station, $550 (was $800) at Amazon
The Anker Solix C1000 features a power output of 1,800 watts, making it strong enough to handle multiple electronics and small appliances at once. It has 11total power ports. You get two USB-A and USB-C ports, a car socket, and six AC outlets. Additionally, it also functions as a night light and has a handle for easy carrying. It weighs about 28 pounds.
Now let’s talk about charging. There are two ways you can charge the Anker Solix C1000. The first way is just by plugging it into a standard AC wall outlet. Or if you have the portable solar panels (sold separately), you simply connect the wires and place the panels in the sun. When plugged into an AC outlet, your power station can be fully charged in about an hour. If you charge up with solar, it’ll likely take around two hours. The digital display on the front of the power station shows you the battery and charging status.
Shoppers have found multiple uses for this portable power station. “We bought it mainly for short power outages and to run our refrigerator, but it will have many other uses for sure,” one shopper said. “Just this past week, I had to do some repairs to our floating dock, and there is no extension cord long enough to reach, so I brought this Anker Solix C1000 and it powered our two saws and drills without any issue at all. It’s very cool and has lots of different outlets. Very impressive unit!”
Others say they get daily use out of it. “I love it. I use it every day. I am traveling and camping everywhere,” one shopper shared. “I use it to power a car mobile refrigerator, a little portable air conditioner, and of course, my iPhone and other electronics, and sometimes an electric stove. It can take on all tasks with no problem. I love the mobile design and durability.”
You don’t need to be ‘roughing it’ the next time you go camping. Consider grabbing the Anker Solix C1000 Portable Power Station to keep all your devices charged and bring along a few essentials for the kitchen or living room. You’ll feel like you never left home.
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