How Buyers Benefit From A Changing Market
The housing market is in transition. For years, there’s been a shortage of homes for sale and an abundance of buyers. But elevated buyer demand – fueled, in part, by historically low mortgage rates – slowed this spring when mortgage rates increased and caused some buyers to hit pause on their buying plans. Affordability conditions […]
Buyer Competition Slows As Showings Per Listing Fall
The best way to get a feel for whether or not a home for sale fits your needs is to see it in person. Nothing beats actually walking through a house to get a sense of its layout and how it would accommodate your life. Which is why buyers interested in a house will schedule […]
Mortgage Rates, Average Loan Size Both Fell
According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week for 30-year fixed-rate loans with both conforming and jumbo balances. Loans backed by the Federal Housing Administration and 15-year fixed-rate loans were mostly flat from the week before. Declining rates led to a bump in mortgage demand which increased 0.7 […]
New Homes Supply Hits 14-Year High
The low supply of homes for sale has been the housing market’s primary issue for years now. That’s why an unexpectedly positive report from the U.S. Census Bureau and the Department of Housing and Urban Development is an encouraging sign for home buyers. The report shows the supply of new homes for sale in May […]
The Most Popular Photos In Home Listings
These days, most buyers start their home search online. In fact, according to one analysis, 97 percent of recent home buyers used the internet while shopping for a house. That means almost everyone searching for a house is looking at photos of listings before heading out to see available homes in person. That makes photography […]
How Much Should You Budget For Utilities?
You can certainly buy a home without thinking about your budget, but it’s not advisable. Without a clear understanding of what you’ll be spending and where, you’re more likely to get yourself into financial trouble. After all, what you can afford is often different than what you can afford comfortably. That’s why it’s smart for […]
Home Builders Cautious About Market
Typically, home builders are a good gauge of the future housing market. After all, their business depends on being able to tell when and where home buyers are looking to buy. So their perspective on the market for new homes is a good indicator of housing health. The National Association of Home Builders measures how […]
Active Listings Grow For First Time In Years
The number of homes for sale has been lower than normal for years now. Home shoppers looking for a home to buy have had to compete over limited listings, which has led to bidding wars, rising prices, and frustration. But things may finally be changing. In fact, the number of active listings rose in May […]
Large Suburbs See New Home Construction Dip
Pandemic-related lockdowns made many Americans want more space. So when home buyers came back to the market, sales in the suburbs heated up. Buyers wanted bigger homes, larger yards, more privacy, and room for a home office. That trend continued throughout the pandemic. But now that things have opened up and fewer of us are […]
Americans Say It’s A Good Time To Sell
Fannie Mae’s monthly Home Purchase Sentiment Index measures how Americans feel about the housing market and economy. It asks respondents whether they think it’s a good time to buy or sell a house, whether they believe home prices and mortgage rates will rise or fall, and how they feel about their job and financial situation. […]
