Monday, September 12, 2022 / by Kevin Schumacher
There’s no denying the housing market is undergoing a shift this season as buyer demand slows and the number of homes for sale grows. But that shift actually gives you some unique benefits when you sell. Here’s a look at the key opportunities you have if you list your house this fall.
Opportunity #1: You Have More Options for Your Move
One of the biggest stories today is the growing supply of homes for sale. Housing inventory has been increasing since the start of the year, primarily because higher mortgage rates helped cool off the peak frenzy of buyer demand. But what you may not realize is, that actually could benefit you.
If you’re selling your house to make a move, it means you’ll have more options for your own home search. That gives you an even better chance to find a home that checks all of your boxes. So, if you’ve put off selling because you were worried about being able to find some ...
Thursday, June 9, 2022 / by Kevin Schumacher
If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.
The Number of Homes Available for Sale Is Likely To Grow
There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com:
“The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue, . . . This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”
• As a buyer, having more options is welcome news. Just remember, housing supply is still. ...
Friday, May 13, 2022 / by Kevin Schumacher
Will Home Prices Fall This Year? Here’s What Experts Say
Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals.
What’s Happening with Home Prices?
Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says: “Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”
So why are prices climbing so much? It’s because there are more buyers than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot commodity in today’s low-inventory housing market.
Where Do Experts Say Prices Will. ...
Tuesday, April 12, 2022 / by Kevin Schumacher
If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one.
If that’s the case, you should know – you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity.
1. The Number of Homes on the Market Is Still Low
Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes available. That means purchasers are eagerly waiting for your house.
Listing your house now makes it the center of attention. And if you work with a real estate professional to price your home correctly, you can expect it to sell quickly and likely get multiple strong offers this season.
2. Your Equity Is G. ...
Friday, March 18, 2022 / by Kevin Schumacher
Low interest rates have fueled demand, but there aren't many properties for sale, reducing competition for sellers. Because supply is at an all-time low, it may be time to put your house on the market.
In January, total inventory was down 28% year over year, while new listings were down 9%. Why aren't individuals selling their houses when they can get a great deal? According to Danielle Hale, chief economist at Realtor.com, “Factors like omicron uncertainties could be causing sellers to hesitate even when they know housing conditions are favorable.”
You might assume our market is slowing down due to a shortage of supply, yet things could be hotter than they've ever been. Right now, the typical home spends just 61 days on the market, and in urban areas, it's much fewer. Since Realtor.com began keeping track in 2016, this is the quickest rate they've seen.
Supply isn’t the only factor making our current market so crazy. Interest rates are finally incre. ...