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Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

“More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement. The impact is greater in expensive areas of the country and in markets that witnessed significant home price gains in recent years.”.

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Home Search Strategies for 2022

Eppraisal

It is no secret that many home buyers are having a hard time finding a home to purchase. The inventory of homes available for sale was on the low side even before the Covid 19 pandemic. According to data from Realtor.com, "The inventory of homes for sale dropped 53% between April 2020 and April 2021."

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Key Skills Your Agent Should Possess in Today's Market

Eppraisal

The demand for homes has been and is still high, as eager buyers rush to new listings and submit offers quickly. Home prices continue to increase and sellers are reaping the rewards of quick sales. According to an article written by Danielle Hale on Realtor.com, "Homes continue to sell faster than a year ago."

Agents 36
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Real Estate Real Fast EP4 (solo-show with Aaron talking Fall/Winter 2022 Texas housing market)

Listing Spark

There is more inventory available and home sales are down. months of inventory, well below a balanced market of 6 months of inventory. In August, the median home value in the greater Austin metropolitan area was $496,000 and that’s up 5%. “In Nationally active listings are up 26.9%.

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Texas Real Estate Trends: Q3 2023 Comprehensive Review

Listing Spark

A Dip in New Mortgages With interest rates soaring to unexpected heights, many prospective homebuyers have taken a step back from applying for new mortgages. Many have been caught off guard by the spike in rates and are cautiously waiting and hoping for home values to become more affordable.

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November 2023 Connecticut Housing Report

Lamacchia Realty

The number of homes listed increased by 5.7% Mortgage rates in November fell from the October highs, coming down to the low 7s towards the end of the month, per Mortgage News Daily. Inventory levels in Connecticut are not increasing nearly enough to meet the buyer demand in the market. What does this mean for Buyers ?

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November 2023 South Florida Housing Report

Lamacchia Realty

november 2023 south florida housing report Broward County In November of 2023, Broward County single-family homes as well as c ondos/townhomes saw decreases in closed sales and pending sales, but increases in average price and new listings. An increase in active inventory as well as new listings is great news for buyers!