Price Ranges Feeling the Inventory Shortage You’ve heard the expression, “A picture is worth a 1000 words”. How true! The graphic above was shared recently at the National Association of Realtor’s Residential Economic Issues and Trends Forum at the trade group’s midyear conference, the Realtors Legislative Meetings, which has attracted some 15,000 attendees. The homes in […]
Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead, real estate had one of its best years ever. Home sales and prices were both up substantially over the year before. 2020 was so strong that many now fear the market’s exuberance […]
Have you wondered, “Should I wait for lower interest rates before I start hunting for a home?” Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16 times, and the trend continued into the early part of this year. Many hopeful homebuyers are now wondering […]
Highlights Experts project an optimistic year for the 2021 housing market. With mortgage rates forecasted to remain low, high buyer demand is expected to fuel more home sales and continue to increase home prices. In 2021 it will be important to stay connected to someone who has (and can interpret) real estate data to help […]
What’s the forecast say? I would wager, as a St. Louisan, that question has to be one of the most frequent question asked by anyone living here. When it comes to the real estate market a frequent question is, “Will home prices continue to increase in 2021?” Here’s the forecast … As we enter the […]
Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Some originally forecasted that up to 30% of homeowners would choose to enter forbearance. Less than 10% actually did, and […]
Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the […]
Last Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%. When the official report came out, it revealed that 1.8 million jobs were added, and the unemployment rate fell to 10.2% (from 11.1% […]
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported record low mortgage rates reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What This Means for Buyers This is huge for […]
Did You Know:On Average There Were About Three Offers on a Home that Closed in May The bidding war for homes is in full swing. With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly […]
Is the Health Crisis Driving Buyers Out of Urban Areas? The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban […]
A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult. Normally, there’s a simple formula to determine the future price of any item: calculate the supply of […]
Last Friday, the U.S. Bureau of Labor Statistics released their May Employment Situation Summary. Leading up to the release, most experts predicted the unemployment rate would jump up to approximately 20% from the 14.7% rate announced last month. The experts were shocked. I don’t usually check my Twitter feed for good news, so I was surprised last Friday when […]
After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate. Here at Finding Homes for You we are feeling the surge of buyers coming back into the […]
CNBC Article Highlights Encouraging and Surprising Statistics about Buyer Demand Diana Olick, with CNBC.com, published an article this morning which probably surprised a lot of people … in a good way. The widely respected real estate reporter stated: If mortgage demand is an indicator, buyers are coming back to the housing market far faster than […]
Why the Housing Market Is a Powerful Economic Driver With businesses starting to slowly open back up again in some parts of the country, it’s important to understand how housing can have a major impact on the recovery of the U.S. economy. As we’ve mentioned before, buying a home is a driving financial force in this process. […]
Tomorrow, the unemployment rate for April 2020 will be released by the U.S. Bureau of Labor Statistics. It will hit a peak this country has never seen before, with data representing real families and lives affected by this economic slowdown. The numbers will alarm us. There will be headlines and doomsday scenarios in the media. There is […]
The 3 Sciences Used to Make Forecasts As we continue to work through the health crisis that plagues this country, more and more conversations are turning to economic recovery. While we look for signs that we’ve reached a plateau in cases of COVID-19, the concern and fear of what will happen as businesses open up […]
There are two crises in this country right now: a health crisis that has forced everyone into their homes and a financial crisis caused by our inability to move around as we normally would. Over 20 million people in the U.S. became instantly unemployed when it was determined that the only way to defeat this […]
