The inventory is still low. When homes are priced right according to the current market conditions, we can get multiple offers on the house. To combat these high home prices we need a sharp increase in housing inventory, which will not happen anytime soon. Buyers who are willing to purchase a home with high-interest rates are looking for variable rates to make their purchase.

The inventory is still low. When homes are priced right according to the current market conditions, we can get multiple offers on the house. To combat these high home prices we need a sharp increase in housing inventory, which will not happen anytime soon. Buyers who are willing to purchase a home with high-interest rates are looking for variable rates to make their purchase.

As we are heading into the housing recession and not a housing recession in prices, we need to focus on pricing the home right from the beginning. This means that sellers have to come to the terms with the reality that the housing market is normalizing. Zillow has lowered its Zestimate of national home values for the first time in more than a decade. Although the prices have climbed, the July data released by the National Association of Realtors indicates the downslide in home prices. To top this all off, according to a new report from Redfin, approximately 63,000 deals to purchase a home fell through in July, which was 16.% of all contracts entered into that month, That’s up from 15% the previous month, and higher than the 12.5% mark recorded this time last year. Buyers are negotiating with the sellers and are not waving contingencies to purchase a home.

The market is normalizing and More home sellers are dropping prices as bidding wars become less vicious. The latest signs that an ongoing decline in home demand is beginning to take the balance of power back from sellers.

Did you know that in US 1 out of every 12 homes is now valued at $1M or more! While it’s not unusual for home values to increase over time, the rate at which more and more homes have crossed the million-dollar threshold has been greatly exasperated by the pandemic housing market, which has seen a record number of buyers competing for a dwindling supply of homes driven by remote work relocation and low-interest rates. While it has been a boon for homeowners looking to cash in on their equity, it has also pushed more and more buyers out of the market. The surge in home values has made many homeowners into millionaires.

Roughly 25%of the share of the home buyers that could afford was priced out of the new-build market.

This is because the rising home demand from buyers, supply chain issues, and the increase in the mortgage rate in the latter half of 2021 played a pivotal role in the affordability of purchasing a new home.

According to the Redfin report and National association of home builders, In December 2021 34.1% of homes on the market were new construction, a 25.4% increase year-over-year. At the same time, 69%  of U.S. households cannot afford a median-priced new home in their area.

You, as a seller my friend, need to attract the right buyers! You need a qualified professional to guide you through selling your home every step of the way from marketing to the close of your home and in between.

My information is down below, call me, text me or drop an email, together we can come up with a plan to sell your home for the top dollar in the shortest time.

Economists are predicting that rents will go up 7% in 2022! How can rising rents affect first-time homebuyers? Listen to the podcast for more information. 

As a seller should I order a home inspection?

This podcast will give you an overview of how long it will take to sell a home. 

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ATTOM data, curator of the nation’s premier property database, today released it's third-quarter 2021 U.S. Home Equity & Underwater Report, which shows that 39.5% of mortgaged residential properties in the United States were considered equity-rich in the third quarter. The overall seasonally adjusted delinquency rate dropped 58 basis points from the second quarter to 4.88%

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