Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

Written by Titusville FL Mortgage Syndicated User on September 28, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.Housing supply comes from three main sources:Homeowners deciding to sell their housesNewly built...

The Return of Normal Seasonality for Home Price Appreciation

Written by Titusville FL Mortgage Syndicated User on September 27, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing, Selling Myths, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend.In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months...

Your Home Equity Can Offset Affordability Challenges

Written by Titusville FL Mortgage Syndicated User on September 20, 2023. Posted in For Sellers, Housing Market Updates, Interest Rates, Selling Myths, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know.Bankrate explains exactly what equity is and how it grows:“Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between what the home is worth and how much is still owed on your mortgage. As your home’s...

Are More Homes Coming onto the Market?

Written by Titusville FL Mortgage Syndicated User on September 19, 2023. Posted in For Sellers, Housing Market Updates, Selling Myths, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

An important factor shaping today’s market is the number of homes for sale. And, if you’re considering whether or not to list your house, that’s one of the biggest advantages you have right now. When housing inventory is this low, your house will stand out, especially if it’s priced right.But there are some early signs that more listings are coming. According to the latest data, new listings (homeowners who just put their house up for sale) are trending up. Here’s a look at why this is noteworthy and what it may mean for you.More Homes Are Coming onto the Market than UsualIt’s well known that...

Plenty of Buyers Are Still Active Today [INFOGRAPHIC]

Written by Titusville FL Mortgage Syndicated User on September 16, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Selling Myths, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

Some HighlightsHolding off on selling your house because you believe there aren’t any buyers out there?Data shows buyers are still active, even with higher mortgage rates. This goes to show, people still want to buy homes, and those who can are moving now.Don’t delay your plan to sell for fear no one is buying. The opposite is true and buyer traffic is still strong today. Connect with a real estate agent to get your house in front of these buyers.

Why Is Housing Inventory So Low?

Written by Titusville FL Mortgage Syndicated User on September 15, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, New Construction, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why.There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply.Underbuilding Is a Long-Standing ProblemOne of the big reasons inventory is low is because builders haven’t been building...

What Experts Project for Home Prices Over the Next 5 Years

Written by Titusville FL Mortgage Syndicated User on September 13, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.Experts Project Ongoing AppreciationPulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists...

Get Ready for Smaller, More Affordable Homes

Written by Titusville FL Mortgage Syndicated User on September 8, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news – based on what Ali Wolf, Chief Economist at Zonda, has to say – smaller, more affordable homes are on the way:“Buyers should expect that over the next 12 to 24 months there will be a notable increase in the number of entry-level homes available.”In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed the space their home provided not only as a place to live, but as a place to work, go to school, exercise,...

Mortgage Rates: Past, Present, and Possible Future

Written by Titusville FL Mortgage Syndicated User on September 7, 2023. Posted in Housing Market Updates, Interest Rates, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates. Since mortgage rates impact what you can afford when you take out a home loan – and affordability is a challenge today – it’s a good time to look at the big picture of where mortgage rates have been historically compared to where they are now. Beyond that, it’s important to understand their relationship with inflation for insights into where mortgage rates might go in the near future.Giving Context to the Sticker ShockFreddie Mac has been tracking the 30-year fixed mortgage rate since April of...

Expert Home Price Forecasts Revised Up for 2023

Written by Titusville FL Mortgage Syndicated User on September 6, 2023. Posted in Housing Market Updates, Pricing, Titusville Condo Financing, Titusville Mortgage, Titusville Mortgage Rates.

Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023. That led to a lot of fear and questions about whether there was going to be a repeat of the housing crash that happened back in 2008. But the headlines got it wrong.While there was a slight home price correction after the sky-high price appreciation during the ‘unicorn’ years, nationally, home prices didn’t come crashing down. If anything, prices were a lot more resilient than many people expected.Let’s take a look at some of the expert forecasts from late last year...

Category: Housing Market Updates