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The standoff between homebuyers and sellers

Housing Wire

million active listings, but at just 1.28 This doesn’t mean homebuyers don’t have something of an edge now: As inventory has increased and buying power has faded, the buyers who are available are dealing with a lot less competition as the bidding wars are ending. million today. Now fast forward to 2022.

Sellers 498
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Will Springer Realtor - Untitled Article

Will Springer Realtor

Sellers accused NAR and other defendants of unlawfully inflating compensation paid to agents to bring financially qualified buyers to homes.Potential members of the class action can send objections or comments about the settlement to the court. home sales in 2023, the highest level since 2014. The listing video is mesmerizing.

HOA 36
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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

That’s where buyers are paying about 42% more in their monthly mortgage payments for the same house today than they did a year ago. Sidenote: Adjustable-rate mortgages (ARMs), which typically have lower interest rates than fixed-rate mortgages, have become an attractive option for new buyers financing a home.

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A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

Also known as a mother-in-law or cottage, the dwellings can offer viable housing to younger buyers seeking to save for their first home or enable seniors to age within a familiar neighborhood. 48% own homes, reflecting a steady rise since 2014. Inventories are on the rise, so much so that one area is now considered a buyer’s market.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

They have also been spending oodles of money to shape their residences to meet new living needs – modern and spacious, when possible – as households live in their homes for longer. new Hispanic homeowner households have joined the market since 2014, bringing the current number of Hispanic-owned homes in the U.S.

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JUST IN TIME: THE 15-MINUTE COMMUNITY

Will Springer Realtor

In addition to “more space,” prospective buyers were on the hunt for a quiet location (28%) and updated kitchen (25%), as the chart notes. While most buyers focus on the standards of kitchens and bathrooms, research shows the best ROI is from replacing the garage door. THE ROI OF HOME RENOVATION. They are often surprised by my answer.

Buyers 36