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Median income earners can only afford 25% of current listings

Housing Wire

It is no secret that housing inventory is low. households earn $75,000 or less, meaning that in a balanced market, 51% of the homes for sale would be affordable to buyers in this income bracket. As income levels increase, however, the disparity decreases between current inventory and the inventory needed for a balanced market.

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Mortgage rates — not commission lawsuits — will be the story in 2024 for publicly traded brokerages

Housing Wire

It could be difficult for some folks to maintain profitability or even achieve profitability because there is some level of fixed costs to doing business, especially if home sales remain depressed and you have a situation where the commission rates come down,” Anthony Paolone, a real estate senior analyst at J.P. Morgan , said.

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Price Adjustments in Florida Rise Rapidly

Lamacchia Realty

The Florida real estate market has shifted, and the number of active listings has increased at a much faster rate than the rest of the country over recent months. Due to these rising costs and rising number of listings, condos are remaining on the market for much longer periods than before, attracting less interest from buyers.

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Price Adjustments and the 2023 Market

Lamacchia Realty

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Inventory didn’t increase at the rate most assumed it would.

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Housing Statistics for Beginners, Part 2

Birmingham Appraisal

We all know that the three most important factors in real estate are location, location, and location. A great skill to have for a real estate agent, or anyone in the real estate industry, is the ability to download sales data from your local MLS and import it into a spreadsheet program like Excel or Google Sheets.

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Price Adjustments in this New Housing Market

Lamacchia Realty

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying.

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2024 Bidding Wars – How to Strike and Win

Lamacchia Realty

As predicted , 2024 has started with low inventory, and mortgage rates have remained relatively stable in the high 6’s and low 7’s. Due to rising rates and home prices that have continued to influence consumer spending, 2023 saw the lowest inventory in recorded history, and in 2024, sellers are still hesitant to enter the market.

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