This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And, this month, the average rate for Continue Reading
Key Takeaways You may wonder what needs to be renovated before selling your house. In today’s shifting market, making your house appealing is more critical than ever. Sellers consider requesting a professional assessment before listing your home on the market. A pre-listing inspection provides you with upfront information about the condition of your Continue Reading
Manhattan Market supply The Manhattan Market Report for the week ending November 11th, Supply closed out at 7,501 and Pending Sales at 2,584, maintaining the market pulse in buyer leverage territory at .34% Market Pulse The market pulse measures the ratio of supply and demand seems to continue to evidence the beginning of the buy-side leverage peaking. Continue looking for Continue Reading
If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years. As you consider this option Continue Reading
There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision. 1. Should I Wait To Sell? Even though the supply of homes for sale has Continue Reading
If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. If you’re willing to work with a trusted agent to consider a newly built home. Then, you may have even more options and incentives than you realize. That may be why the National Association of Home Continue Reading
Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says: “. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, Continue Reading
The Manhattan Market Report for the week ending November 4th shows a slowing market that matches the 2020 and 2019 vintage 4th quarters. Supply closed out at 7,569 and Pending Sales at 2,602, maintaining the market pulse in buyer leverage territory at .34% As we began the month of November, Stocks tumbled as trading commenced. Traders also assessed better-than-expected economic Continue Reading
Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible. Mortgage Rates Will Continue To Respond to Inflation There’s no Continue Reading
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