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Monthly Archives: August 2022

    What Sellers Need To Know in Today’s Housing Market

    By Admin | August 24, 2022

    If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why. Read More

    August 2022 Residential Marketplace Changes & Thoughts

    By Admin | August 18, 2022

    Notice though that we are still ahead of 2021 with the number of sales (graph 3) and the average sales price is up 9%+ at just over $400,000! So home seller's are still doing well & taking advantage of the 25% appreciation of the last couple years. Mortgage rates are holding steady for now (even dipped below 5% for a few days last week) and while buyers are more cautious it still makes sense to own a home in many cases, especially compared to renting. Read More

    What Would a Recession Mean for the Housing Market?

    By Admin | August 16, 2022

    Research also helps paint the picture of how a recession could impact the cost of financing a home. As the chart below shows, historically, each time the economy slowed down, mortgage rates decreased. Read More

    Is the Shifting Market a Challenge or an Opportunity for Homebuyers?

    By Admin | August 11, 2022

    If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer. But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans. Read More

    3 Graphs To Show This Isn’t a Housing Bubble

    By Admin | August 2, 2022

    The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate. Anything less than that is a shortage and will lead to continued price appreciation. For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to tumble. Today, supply is growing, but there’s still a shortage of inventory available. Read More