The ongoing economic recovery and improving labor market led to a rise in credit supply for various loan types.  There was an overall increase in credit availability for low credit scores and higher Loan To Value loans, with conventional credit supply increasing.  Zillow expects that seasonally adjusted home values will increase 2.9% between September and the end of 2020, and rise 7% in the 12 months ending September 2021. 

Four main things have driven the shortage:

In today’s episode, I will talk about the increase of Single Family home permits since 2007, Existing homes sales inventory is at its lowest since 1982, an increase in vacation home purchases, and the forecast of the Mortgage Interest rates for 2021 from Mortgage Bankers Association.

Today, it’s a seller’s market, and consumers have been devouring homes. Yet nationwide, sellers have been having cold feet about putting their home on the market for a variety of reasons. This is an ongoing trend that’s getting worse.

As Zillow is forecasting increases in home prices until January 2022 and Redfin is predicting that the 2020 elections impact will be short-lived. The main driving force for scares inventory is the pandemic and the demand is outweighing the supply. As Zillow is forecasting increases in home prices until January 2022 and Redfin is predicting that the 2020 elections impact will be short-lived. The main driving force for scares inventory is the pandemic and the demand is outweighing the supply. 

This is the first time in realtor.com’s records that homes sold more quickly in September than August and signals an unusually active fall market.

Sales of new homes broke the 1 million mark for the first time since 2006, rising 43.2% from last year and up 4.8% from an upwardly revised July figure, as home shoppers hurried to take advantage of low mortgage rates and perhaps make a move to secure new virtual learning space as the new school year started in August.

As the summer draws to a close and the first chilly winds of autumn blow through, it’s time to think through the way you’ll clean up, fix up, and maintain your home for fall. By keeping up with your home’s maintenance, you can ensure both a cozier winter and long-term protection for your investment.

 Tips for Maximizing the virtual meetings

Summer home buying season continues to show resilience against the usual fall slowdown as prices continue to hit new highs and homes sell faster than ever before.