Category: Uncategorized

3 Graphs To Show This Isn’t a Housing Bubble

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.

What’s Causing Ongoing Home Price Appreciation?

The frenzy the market saw during the pandemic is because there was more demand than homes for sale. That drove home prices up as buyers competed with one another for available homes. And while buyer demand has moderated today in response to higher mortgage rates, data tells us demand will continue to be driven by the large generation of millennials aging into their peak homebuying years

Should I Buy a Home Right Now?

If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision.

The Drop in Mortgage Rates Brings Good News for Homebuyers

Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have…

Homeownership Is a Great Hedge Against the Impact of Rising Inflation

While it’s true rising home prices and higher mortgage rates mean that buying a house today costs more than it did even a few months ago, you still have an opportunity to set yourself up for a long-term win. That’s because, in inflationary times, you want to be invested in an asset that outperforms inflation and typically holds or grows in value. If you’ve been thinking about buying a home this year, it makes sense to act soon, even with inflation rising. That way you can stabilize your monthly housing cost and invest in an asset that historically outperforms inflation.

June 2022 Residential Real Estate Market Update Dave & Travis!

At a glance comparing last year to this year there is a considerable change. Supply is up over 60% and climbing quickly. Pending sales are down over 20% from last year. The ratio between Active & Pending has dropped from an insane 327% to 133% (compared to "normal" in 2019, (60%). BUT, what blows me away (and I keep double checking my numbers) is that Closed Sales are actually MORE than last year with 849 vs 817 (622 in "normal" 2019)!!! How can that be? Only one reason makes sense. Where it took 60+ days to close last year we are getting it done "normally" in 30-40 days now. So people are continuing to buy homes at a record pace! Oh, and the average sales price is up about 9% so far this year (comparable to the national average)!

Why the Growing Number of Homes for Sale Is Good for Your Move Up

Are you thinking about selling your current home? If so, the biggest question on your mind may be: if I sell now, where will I go? If this resonates with you, there’s…

How Buying or Selling a Home Benefits the Economy and Your Community

You may be wondering: how can a single home sale have such a major effect on the economy? For starters, there are multiple industries that play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and so many other professionals are all necessary at various stages during the transaction. Every individual you work with, like your trusted real estate advisor, has a team of professionals involved behind the scenes.

What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market

One of the seldom-reported benefits of the forbearance program was it gave homeowners facing difficulties an extra two years to get their finances in order and work out a plan with their lender. That helped prevent the foreclosures that normally would have come to the market had the new forbearance program not been available. Even as people leave the forbearance program, there are still fewer foreclosures happening today than before the pandemic. That means, while there are more foreclosures now compared to last year (when foreclosures were paused), the number is still well below what the housing market has seen in a more typical year, like 2017-2019

How Today’s Mortgage Rates Impact Your Home Purchase

Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power. Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say that’ll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing power.