Hey there, future homeowner! 🏡 If you’ve been daydreaming about picking out your dream home, you’re probably also keeping a close eye on those pesky mortgage rates. They’ve been a bit of a rollercoaster, right? Last year, when they nudged close to 8%, it might have felt like your home-buying dreams took a hit. If […]
Explaining Today’s Housing Shortage The current housing market is experiencing a severe shortage of available homes for sale. Several factors have contributed to this shortage. Key Factors Behind the Shortage There are some market conditions impacting this shortage. Here are a couple of the big ones: Decline in New Construction Builders have not been constructing […]
The biggest challenge the housing market faces is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy. Mark Fleming, Chief Economist at First American Let’s break down […]
What’s Impacting the Price of Homes? If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares: “. . . with slowly improving […]
Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy. Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it well […]
Things Buyers Can Do in Today’s Housing Market It’s clear the 2022 housing market has been defined by rising mortgage rates. With rates on the rise, it’s also become more costly to purchase a home. According to the National Association of Realtors (NAR): “Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an […]
What’s Driving Today’s High Buyer Demand? [INFOGRAPHIC] Some Highlights There’s an influx of buyers looking for homes today, and that means your house is in high demand. Here are a few reasons why so many people are looking to buy a home. Buyers are motivated to beat rising mortgage rates, and many want to escape rising rents. There’s also […]
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 […]
The Difference a Year Makes for Homeownership Over the past year, mortgage rates have fallen more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them. 1. Move-up or Downsize: One option […]
If you have been reading about the real estate market recently you can’t help but pick up on conflicting messages. “Wow homes are more affordable now than ever before!” mixed with … “Low inventory and bidding wars are driving home prices higher!” The two statements don’t seem to be compatible with each other. So which […]
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 […]
St. Louis Home Buyer Guide Fall 2018 Edition If you are considering purchasing a home this Fall check out this info-packed St. Louis Home Buyer Guide. Approximately 25 pages covering many topics to help you understand the whole process of finding, sorting, and deciding on the best house for you. Topics include: Knowing What You […]
Monthly Survey Reports Opinions on Home Ownership, Renting, and Household Finances Fannie Mae has a new monthly consumer attitude report offering a peek into the sentiments of Americans across the country. What are people feeling about owning a home, whether it’s a good time to buy or sell, and people’s outlook on home prices and […]
