The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Let’s look at the latest information with context so we can see how this compares to previous years.
To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.
One of the reasons prices didn’t crash like some expected is because there aren’t enough available homes for the number of people who want to buy them. Even with today’s mortgage rates, there are more people looking to buy than there are homes available for sale.
If you’re intimidated by how much you need to save for a down payment it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case.
Do all those confusing headlines about the housing market leave you with more questions than answers? That’s hard when you’re trying to decide if you’re ready to buy or sell a home. Get your free guides. They’re designed to make sure you have the information you need to make your decision.
Here are two fundamentals that prove this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime.
If you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High? When Will Rates Go Back Down?