Home Buyers

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Buyers See Benefit in Higher Housing Inventory and Lower Prices

As the amount of housing inventory has increased and prices have fallen, some buyers have become more eager to look for potential homes to purchase. This follows several months of rising interest rates and record-high inflation, which have caused the housing market to cool and prices to drop overall. While this may be less fortunate for some sellers, it could be a good time for reticent buyers to start getting into the market to take advantage of relatively low prices.

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Mortgage Rates Fall on Negative Economic Signs

Mortgage rates declined nearly half a percent over the course of two days after worse than expected economic reports became public. These reports have stoked fears that the economy may be facing a potential recession, with mortgage lenders reacting by lowering rates. This also comes at the same time that inflation is reaching the highest levels they have been at in decades, while the Federal Reserve is raising interest rates more broadly.

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Five Reasons You May Want to Consider Selling Your Home

While the real estate market has begun to cool, it is still the best it has been for sellers in more than a decade. That means, for some people, it may be the perfect time to consider selling your home and getting the most out of the equity in your property. Here are five reasons you may want to consider selling your home right now:

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Home Sale Cancellations At Highest Rate Since Beginning of Pandemic

The rate of home sale cancellations reached a record of 15%, the highest rate since the beginning of the COVID-19 pandemic. This rate of cancellations is the result of buyers reconsidering their purchases due to changes in the market, which have caused them to back out on their existing real estate transactions. As a result, sellers are left with an unsold home, contributing to a housing market that has begun to cool.

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Housing Supply Up By 19%, But Inventory Issues Remain

According to recent reports, the number of homes available for purchase is up 19% overall across the country, compared to the same time last year. Despite this, however, housing prices remain high, due to enormous demand for housing, especially affordable housing. However, some experts are predicting that these high prices will not last much longer, and as more inventory enters the market, sellers may begin to lower their prices to compete.

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Five Reasons Why You Should Get Inspections Before Buying

While inspections are not strictly mandatory when buying a new home or other building, it is almost always advisable to do so. If you do not get a property inspected before you buy, you could set yourself up to deal with enormous problems later on. Here are five major reasons why you should always get real estate inspected before you agree to purchase it:

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Why Do Sellers Ask for Pre-Approval for Mortgages Before They Sell?

It is a common practice in the real estate industry for sellers to require buyers to get pre-approval for financing for any sale. This is true even in cases where a buyer has the liquid assets available to potentially purchase a property outright, without needing a mortgage. So why do sellers tend to require pre-approval for a mortgage before they will sell, and why should you do the same?

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Rising Interest Rates Could Lead to Chilling Market

Although home prices have reached some of the highest levels on record, some economists warn that rising interest rates could stop this trend soon. With more inventory entering the market, forecasters are predicting the real estate market is beginning to cool. Higher interest rates could accelerate this process by making it more expensive for prospective buyers to get mortgages, limiting demand.

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Five Important Things to Consider When Renovating Your Home

While it would be nice to think that you can simply find your dream home on the market, one that doesn’t need any repairs or improvements, the fact is that almost any property you can find will need renovations at some point. However, if you are not careful, your renovations could cost you more than just the price of hiring a contractor. Here are five important things you should consider when you are renovating your home:

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As Home Prices Rise, House Listings Follow to Meet Demand

Home prices have risen to their highest point since 2008, due in part to an overwhelming amount of demand compared to the amount of houses available for sale. However, that may be changing, as more people have started putting their homes up for sale on home listings to meet this rising demand. As a result, this could have the effect of helping to cool what some see as an overheated housing market.

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