Today’s Housing Market Has Only Half the Usual Inventory [INFOGRAPHIC]

Written by Stuart FL Mortgage Syndicated User on August 26, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Mortgage Rates Stuart FL, Selling Myths, Stuart FL Mortgage.

Some HighlightsThere 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.

More Jobs and Better Pay Leads to More Buyer Demand

Written by Stuart FL Mortgage Syndicated User on August 25, 2023. Posted in For Sellers, Housing Market Updates, Mortgage Rates Stuart FL, Selling Myths, Stuart FL Mortgage.

There’s been talk about a recession for quite a while now. But the economy has been remarkably resilient. Why? One reason is employment and wages have stayed strong. Let’s look at the latest information on each one and why both are good news if you’re thinking about selling your house.More Jobs Are Being CreatedInstead of facing the job losses typical of any recession, the economy has been growing and adding jobs. According to the Bureau of Labor Statistics (BLS), 187,000 jobs were created in July, which is up from the 185,000 created in June. That means more people are finding work. In fact,...

Why You Need a True Expert in Today’s Housing Market

Written by Stuart FL Mortgage Syndicated User on August 24, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Mortgage Rates Stuart FL, Selling Myths, Stuart FL Mortgage.

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you through each unique step of the process. The reality is, not all agents operate the same way. To truly make a powerful and confident decision as you buy or sell a home, you need a real estate expert who uses their knowledge of what’s really happening with home prices, housing supply, industry...

Why Median Home Sales Price Is Confusing Right Now

Written by Stuart FL Mortgage Syndicated User on August 22, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Mortgage Rates Stuart FL, Pricing, Selling Myths, Stuart FL Mortgage.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology...

Don’t Expect a Flood of Foreclosures

Written by Stuart FL Mortgage Syndicated User on August 17, 2023. Posted in Buying Myths, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Rates Stuart FL, Selling Myths, Stuart FL Mortgage.

The rising cost of just about everything from groceries to gas right now is leading to speculation that more people won’t be able to afford their mortgage payments. And that’s creating concern that a lot of foreclosures are on the horizon. While it’s true that foreclosure filings have gone up a bit compared to last year, experts say a flood of foreclosures isn’t coming.Take it from Bill McBride of Calculated Risk. McBride is an expert on the housing market, and after closely following the data and market environment leading up to the crash, he was able to see the foreclosures coming in 2008....

Equity Is a Game Changer for Homeowners Looking To Sell

Written by Stuart FL Mortgage Syndicated User on August 16, 2023. Posted in For Sellers, Housing Market Updates, Mortgage Rates Stuart FL, Move-Up Buyers, Selling Myths, Stuart FL Mortgage.

If you’re a homeowner, you might be torn on whether or not to sell your house right now. Maybe that’s because you don’t want to take on a higher mortgage rate on your next home. If that’s your biggest hurdle, understanding your equity may be exactly what you need to help you feel more comfortable making your move.What Equity Is and How It WorksEquity is the current value of your home minus what you owe on the loan. And recently, that equity has been growing far faster than you may expect.Over the last few years, home prices rose dramatically, and that gave your equity a big boost very quickly....

About 11,000 Houses Will Sell Today

Written by Stuart FL Mortgage Syndicated User on August 11, 2023. Posted in For Sellers, Housing Market Updates, Mortgage Rates Stuart FL, Selling Myths, Stuart FL Mortgage.

Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you may believe, buyers are still active and plenty of homes are selling right now.According to the National Association of Realtors (NAR), based on the pace of sales right now, just over 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:4.16...

There’s Only Half the Inventory of a Normal Housing Market Today

Written by Stuart FL Mortgage Syndicated User on August 9, 2023. Posted in For Sellers, Housing Market Updates, Mortgage Rates Stuart FL, Selling Myths, Stuart FL Mortgage.

Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house. This graph from Calculated Risk can help put that into perspective: As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same week last year, supply is down roughly 10% – and it was...

Sellers: Don’t Let These Two Things Hold You Back

Written by Stuart FL Mortgage Syndicated User on August 2, 2023. Posted in Buying Myths, For Buyers, For Sellers, Mortgage Rates Stuart FL, Selling Myths, Stuart FL Mortgage.

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles.Challenge #1: The Reluctance to Take on a Higher Mortgage RateAccording to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):But today, the typical 30-year fixed mortgage rate offered to buyers...

Homebuyers Are Still More Active Than Usual

Written by Stuart FL Mortgage Syndicated User on July 28, 2023. Posted in For Sellers, Housing Market Updates, Mortgage Rates Stuart FL, Selling Myths, Stuart FL Mortgage.

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked...

Category: Selling Myths