Wondering why the supply of
homes for sale is limited today? There are a few factors at play. Lack of
building over time, the mortgage rate lock-in effect, and people staying in their houses longer are three of the main reasons why supply is low. But real estate agents know exactly
where to look and what to do to make your dream a reality. Connect with an agent so you have an expert on your side to help you successfully navigate the market and find your next home.
remote work peaked during the pandemic, many people still work from home today. If you’re one of
them, it could have an unexpected benefit when you’re looking to buy a home. If you can work from home, you might have more
choices for where to live. Connect with a real estate agent to talk about your options and what’s most important to you.
Holding off on selling your house because you believe there aren’t any buyers out there?
Data shows buyers are still active, even with higher mortgage rates. This goes to show, people still want to buy homes, and those who can are moving now. Don’t delay your
plan to sell for fear no one is buying. The opposite is true and buyer traffic is still strong today. Connect with a real estate agent to get your house in front of these buyers.
Last year, some
housing experts projected a decline in home prices by the end of 2023. But that didn’t happen – inventory was just too low. While it’s normal for
experts to re-forecast throughout the year, the good news for 2023 is that prices are no longer projected to decrease.
Connect with your trusted real estate agent to find out what’s happening with home values in your local area.
equity grows as you pay down your home loan and as home prices increase. With home prices rising again, your equity is getting an extra boost. Almost half of homeowners are
equity rich because they have at least 50% equity in their homes. If you’ve been in your home for a while, you might have gained a considerable amount of equity, too. Want to find out how much
equity you have? Connect with a trusted real estate agent for a Professional Equity Assessment Report (PEAR).
There are only about half the number of
homes for sale compared to the last normal years in the market. That means buyers don’t have enough options right now. So, if you work with an agent to list your house, it should be in the
spotlight. If you’re thinking of
selling, get in touch with a local real estate agent so your house can stand out while there’s such a shortage of supply and buyers are craving more options.
With ongoing high
inflation pushing up everyday costs, some people are worried that’ll create a flood of foreclosures. Here’s why that’s unlikely. Fewer
people are seriously behind on mortgage payments right now. If foreclosures were going to rise a lot, more people would need to be late on their payments. Since most are paying on time, a wave isn’t
coming. If you’re concerned about a flood of foreclosures, the data shows that’s not likely.
monthly home price data from six expert sources shows the worst home price declines are behind us, and they’re rising again nationally. If you’ve put your plans to move on pause because you were worried about home
prices crashing, this rebound is good news.
Connect with a local real estate agent so you know what’s happening with prices in your area.
Want to know what experts say will happen in the rest of 2023? Home
prices are already appreciating again in many areas. The average of the expert forecasts shows positive price growth. Where
mortgage rates go for the rest of the year will depend on inflation. Based on historical trends, rates are likely to ease as inflation continues to cool. Even though low
inventory continues to be a challenge, experts project 5 million homes will still sell this year. That pace should pick up if rates come down.
If you’re considering buying or selling a
home, you’ll want to know what’s happening in the housing market. Housing
inventory is still very low, prices are climbing back up, and homes are selling fast when priced right. Connect with a real estate agent if you want more information about your local area and what the
trends mean for your plans to buy or sell.