. Selling your house? It could be now if you’ve been waiting for the right time. The supply of homes for sale is so low. HousingWire shares: “. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .” The National Association of Realtors (NAR) confirms Continue Reading
Homebuyers, the spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest: “Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although Continue Reading
A Good Time To Make A Deal: New York Real Estate In Q1 2023 New York City’s real estate market reacted strongly to the economic uncertainty of 2023’s first quarter. Many buyers throughout our market put their plans on hold after the 50 basis point increase in the Fed rate during December (which followed several 75 basis point increases). Mortgage rates continued to rise. Continue Reading
We’re still in a sellers’ market. And if you’re looking to buy a home, you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind; there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them. Long-Term Benefits Outweigh Short-Term Challenges of Continue Reading
There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s home-buying ability. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing. Even though we’re no longer seeing the buyer frenzy that drove home Continue Reading
Manhattan Market Report for the week ending March 31st, 2023, Supply closed out at 6,711 and trended upward. Pending Sales at 2,698 and off-market listings (delisting) maintain the market pulse at a .41% level. The market’s liquidity is trending upward. The Report Additionally, “With affluent individuals from overseas stepping back into the game to purchase their Continue Reading
This year, the 30-year fixed mortgage rate has been bouncing between 6% and 7%. If you’ve been on the fence about buying a home, knowing exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power is helpful. The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment: Even a 0.5% change can Continue Reading
Manhattan Market Report for the week ending March 24th, 2023, Supply closed out at 6,465 and trended upward. Pending Sales at 2,475 and off-market listings (delisting) maintain the market pulse at a .38% level. The market’s liquidity is trending upward. The Report Additionally, “With affluent individuals from overseas stepping back into the game to Continue Reading
A Seller's Market, what does that mean? Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. And why are conditions today so good if you want to list your house? It starts with the number of homes available for sale. The latest Existing Home Sales Report from the National Association Continue Reading
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