If you’re considering selling your home, you should know the number of homes for sale right now is low. That’s because, this season, fewer sellers are listing their houses for sale than the norm. Looking back at every April since 2017, the only year fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph Continue Reading
Manhattan Market Report for the week ending May 5, 2023, Supply closed out at 7,365, up 2%. Pending Sales increase and sits at 2,955; off-market listings (delisting) maintain the market pulse at a .41% level. At the spring topping point. The seller's liquidity is here, so take action. We are at the top of the peak selling season, so in another 45 days, the summer lull Continue Reading
If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a home? Here’s what you need to know. Inflation and the Housing Market While the Fed’s working hard to lower inflation, the latest data shows that the number has improved Continue Reading
There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy to understand why that worry has come up. But the data clearly shows today’s market is very different than before the housing crash in 2008. Rest assured; this isn’t a repeat Continue Reading
If you’re looking to buy a house, you may find today’s limited supply of homes for sale challenging. When housing inventory is as low as it is right now, it can feel like an uphill battle to find the perfect home for you because there just isn’t much to choose from. If you need to open up your pool of options, it may be time to consider a newly built home. According to the latest data Continue Reading
Some Highlights Not sure if selling your house is the right move today? You should know several reasons it still makes sense to sell now. Your house will stand out because inventory is low. That’s why the number of offers on recently sold homes is rising. And most homeowners have a lot of equity that can fuel a move. Selling your home enables you to begin a new chapter in your Continue Reading
Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains: “Downsizing is somewhat common among older people and retirees who Continue Reading
If you’re a homeowner considering moving, you may wonder if it’s still an excellent time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is picking up speed. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months (see Continue Reading
Everywhere you look, people are talking about a potential recession. And if you’re planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts say that if we officially enter a recession, it’ll be mild and short. As the Federal Reserve explained in their March meeting: “. . . the staff’s projection at the time of Continue Reading
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