Blog tagged as Sellers

You might be wondering if 2024 will be the right time to buy or sell a home. If you want to make the most informed decision possible, it’s important to know what the experts have to say about what's ahead for the housing market.

In 2023, higher mortgage rates, confusion over home price headlines, and a lack of homes for sale created some challenges for buyers and sellers looking to make a move. But what’s on the horizon for the new year?

If you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it's just the opposite. National data from several sources says they’ve been going up consistently this year.

Lending standards have tightened, leading to more qualified buyers who can afford to make their mortgage payments. Data from Freddie Mac and Fannie Mae shows the number of homeowners who are seriously behind on their mortgage payments is declining.

Today we will explore some key real estate metrics that are important to both buyers and sellers in the market. By analyzing these metrics, we can gain valuable insights into the current state of the real estate market and understand the correlation between them.

Buyers are still out there touring homes. In fact they’re more active than they were in May 2022 and certainly more than they were in the last normal 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.

Homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.

Even though interest rates have been rising the past 12 months, these real estate metrics paint a clear picture of a thriving and competitive market.