Even though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller’s market because the supply of homes for sale is so low. But what does that really mean for you? And why are conditions today so good if you want to sell your house?
Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023. That led to a lot of fear and questions about whether there was going to be a repeat of the housing crash that happened back in 2008. But the headlines got it wrong.
Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it. The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses theContinue reading “Buyer Traffic Is Still Stronger than the Norm- Todd Mowry Your Local Orlando Area Realtor”
The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded. So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each one. NAR reports on the median home sales price, while some other sources use repeat sales prices. Here’s how those approaches differ…..
Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house. ThisContinue reading “Sellers This Is For You …There’s Only Half the Inventory of a Normal Housing Market Today. Time To Take Advantage Of It- Todd Mowry Your Local Orlando Area Realtor”
Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision
Here are several key indicators that help to paint a picture of the current market and where it’s likely headed.
A lot has changed over the past year, and you might be wondering what’s in store for the Spring housing market. If you’re planning to sell your house this season, here’s what real estate experts are saying you should keep in mind.
Last year, one factor drove the real estate market more than any other: rising mortgage rates. In March 2022, the Federal Reserve began a series of interest rate hikes in an effort to pump the brakes on inflation.1 And while some market sectors have been slow to respond, the housing market has reacted accordingly. BothContinue reading “2023 Real Estate Market Outlook (And What It Means for You)- Todd Mowry Your Local Orlando Area Realtor”
Many people are wondering if prices will come down. There’s lots of evidence to show that prices will slow down and level off for a bit but not a lot of evidence so far…at least here in Central Florida… that prices are going to have a significant drop off anytime soon.