What’s going on with home prices? The market is changing. Mortgage rates have risen sharply in the last few months, and the inventory or homes for sale is finally increasing in many markets across the country. Two things are apparent. First, home prices are continuing to rise. Second, sellers don’t have as much of an advantage as they’ve recently had and are needing to reduce their asking prices....
Mary’s Blog
This information is coming from my lender at HomeTrust/Kelly Frey Housing Starts fell 14.4% in May, to a 1.549 million annual rate. The monthly decline was due to both single-family and multi-unit starts, and for the year, single-families are down 5.3%, multi-units down 3.3%. Builders are cautious about future demand thanks to rising mortgage rates--plus, projects in their pipelines are now at the...
Agents, buyers, sellers, and investors have had ample reason to question the sustainability of the real estate market. After all, the scorching-hot housing market was fueled in part by COVID-related lockdowns and life disruptions that are becoming more rare. Rising interest rates, intractably high home prices, and continued rumblings about a recession add to skepticism about the housing market's...
Over time, more than half of homebuyers would prefer to buy a newly-built home over an existing home. More than 10% of U.S. home purchases are from buyers of new homes. In many ways, that's no surprise, as new homes can be specified for buyer preferences, are extra clean, energy efficient, require less maintenance, and are move-in ready at the time of purchase. But right now, the market for newly...
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....
Update Issued: 4/19/2022 6:03 PM Where do we even begin the conversation about mortgage rates on any given day in the spring of 2022? The news has frequently fallen into the category of "same thing, different day." The "same thing" in today's case is another jump up to long-term highs. Today's dubious distinction is that we'd have to go back to 2009 before seeing rates that were meaningfully...
Wednesday March 30th, 2022 For Buyers, Housing Market Updates, Interest Rates, Pricing Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021...
Tuesday March 29th, 2022 For Sellers, Housing Market Updates Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon. According to realtor.com, the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical...