Key Takeaway The housing Inventory is low. There is only about half the number of homes for sale compared to the last average 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. Manhattan's overall housing inventory statistics: the supply is 6,088, under contract Continue Reading
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 and why both are good news if you’re considering selling your house. More Jobs Are Being Created The economy has been growing and adding jobs instead of facing the job losses typical of Continue Reading
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 buying your first home or selling once again, working with an expert who can guide you through each unique process step is mission-critical. The reality is not all agents operate the same way. Continue Reading
If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then. And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s explain why that’s happening and why this isn’t cause for concern. Why ARMs Have Gained Popularity More Recently This graph uses data from Continue Reading
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 previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may seem confusing, especially if you’ve been following along and reading the Continue Reading
Some Highlights With ongoing high inflation pushing up everyday costs, some people are worried that it'll create a flood of foreclosures. Here's why that's unlikely. Fewer people are seriously behind on mortgage payments right now. If foreclosures were going to rise a lot, more people would need to be late on their payments. Since Continue Reading
In today’s housing market, two main affordability challenges impact buyers: higher mortgage rates than they’ve been the past couple of years and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the Continue Reading
The rising cost of almost everything from groceries to gas right now leads to speculation that more people won’t be able to afford their mortgage payments. And that’s creating concern that many 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 Continue Reading
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 Works Equity is the current Continue Reading
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