What Would a Recession Mean for the Housing Market?

Written by Melbourne FL Mortgage Syndicated User on August 17, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Pricing.

According to a recent survey from the Wall Street Journal, the percentage of economists who believe we’ll see a recession in the next 12 months is growing. When surveyed in July 2021, only 12% of economists consulted thought there’d be a recession by now. But this July, when polled, 49% believe we will see a recession in the coming 12 months. And as more recession talk fills the air, one concern many people have is: should I delay my homeownership plans if there’s a recession? Here’s a look at historical data to show what happened in real estate during previous recessions to help prove why...

The U.S. Homeownership Rate Is Growing

Written by Melbourne FL Mortgage Syndicated User on August 16, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Rent vs. Buy.

The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year: That data shows more than half of the U.S. population live in a home they own, and the percentage is growing with time. If you’re thinking about buying a home this year, here are just a few reasons why so many people see the value of homeownership. Why Are More People Becoming Homeowners? There are several benefits to owning your home. A significant one, especially when inflation...

Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC]

Written by Melbourne FL Mortgage Syndicated User on August 13, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

Some Highlights Many people remember the housing crash in 2008, but experts say today’s market is fundamentally different in many ways. First, there isn’t an oversupply of homes for sale today. Plus, lending standards are much tighter, and homeowners have record levels of equity. That means signs say there won’t be a wave of foreclosures like the last time. If you have questions about the housing market, let’s connect. Content previously posted on Keeping Current Matters

What Does the Rest of the Year Hold for Home Prices?

Written by Melbourne FL Mortgage Syndicated User on August 12, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Pricing.

Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your homeownership goals. Last Year’s Rapid Home Price Growth Wasn’t the Norm In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices...

Is the Shifting Market a Challenge or an Opportunity for Homebuyers?

Written by Melbourne FL Mortgage Syndicated User on August 11, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers.

If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer. But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans. The Challenge There were many reasons for the limited number of homes on the market during...

Why the Forbearance Program Changed the Housing Market

Written by Melbourne FL Mortgage Syndicated User on August 9, 2022. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. Thankfully, the forbearance program changed that. It provided much-needed relief for homeowners so a foreclosure crisis wouldn’t happen again. Here’s why forbearance worked. Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work...

Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC]

Written by Melbourne FL Mortgage Syndicated User on August 6, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Pricing.

Some Highlights The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with pre-pandemic years. Let’s connect so you can make your best move this year. Content previously posted on Keeping Current Matters

Why It’s Still a Sellers’ Market

Written by Melbourne FL Mortgage Syndicated User on August 5, 2022. Posted in For Sellers, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Selling Myths.

As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know the market is still anything but normal. Even though the supply of homes for sale has been growing this year, there’s still a shortage of homes on the market. And that means conditions continue to favor sellers today. That’s because the level of inventory of homes for sale can help determine if buyers or sellers are in the driver’s seat. Think of it...

3 Graphs To Show This Isn’t a Housing Bubble

Written by Melbourne FL Mortgage Syndicated User on August 3, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is, there’s concrete data to show why this is nothing like the last time. There’s a Shortage of Homes on the Market Today, Not a Surplus The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate....

Three Reasons To Buy a Home in Today’s Shifting Market [INFOGRAPHIC]

Written by Melbourne FL Mortgage Syndicated User on July 30, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers.

Some Highlights The housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about buying a home. Housing inventory is increasing, which means more options for your search. Plus, the intensity of bidding wars may ease as buyer demand moderates, leading to fewer homes selling above asking price. If you’re ready to buy a home, now may be the moment you’ve been waiting for. Let’s connect to start the homebuying process today. Content previously posted on Keeping Current Matters

Category: Housing Market Updates