Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing that the 30-year fixed-rate mortgage (FRM) averaged 2.90 percent.
“Mortgage rates set several record lows over the last few months and have remained low into September,” said Sam Khater, Freddie Mac’s Chief Economist. “While there is room for rates to decrease even more, higher home prices and low inventory could potentially stifle the high demand that we’ve been seeing.”Continue Reading
Once you’re in the market to buy or sell a home, you’re going to notice every little thing you hear about the housing market.
It could be on the TV, a headline or article online, friends, family, coworkers — everyone has an opinion on how the real estate market is doing. The problem is, most of what you hear is based upon national data, trends, and statistics. Even if it’s “local” insight, it’s often still too broad and general.Continue Reading
The residential real estate market has definitely been the shining light in this country’s current economic situation. All-time low mortgage rates coupled with a new appreciation of what a home truly means has caused the housing market to push forward through this major health crisis.
Let’s look at two measures that explain the resilience of the real estate market.Continue Reading
When COVID-19 first hit, much of the country was under stay-at-home orders, which made it impossible for buyers to get out and see potential homes in person. And while stay-at-home orders have been lifted in most places, many buyers are still wary about hitting open houses or touring homes in person.
But, as it turns out, that’s not stopping them from actually buying homes; in fact, many offers are being made sight unseen!Continue Reading
The current real estate market is an excellent example of the law of supply and demand. After a period of slowed activity due to COVID-19, buyers have emerged strong and ready to buy, but the lack of inventory is creating serious demand for properties — and driving up prices in the process.
According to realtor.com’s July Monthly Housing Trends report, the national median listing price in the United States is now $349,000. That’s an 8.5 percent increase year-over-year—and the highest listing price on record.
So, what does that mean for you? With listing prices at an all-time high, if you’re thinking about selling your home, now is the great time to make a move, take advantage of the buyer demand, and fetch top dollar for your property.
Many American businesses have been put on hold as the country deals with the worst pandemic in over one hundred years. As the states are deciding on the best strategy to slowly and safely reopen, the big question is: how long will it take the economy to fully recover?
Let’s look at the possibilities. Continue Reading
The uncertainty the world faces today due to the COVID-19 pandemic is causing so many things to change. The way we interact, the way we do business, even the way we buy and sell real estate is changing.
This is a moment in time that’s even sparking some buyers to search for a better deal on a home. Sellers, however, aren’t offering a discount these days; they’re holding steady on price.
According to the most recent NAR Flash Survey (a survey of real estate agents from across the country), agents were asked the following two questions:Continue Reading
Fannie Mae has released the July edition of their Home Purchase Sentiment Index (HPSI).
The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions.
Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed:Continue Reading
Before you list your home for sale, you want to feel confident in the market and the opportunity to sell your property at a competitive price. And in Q2 2019, it looks like that confidence is on the rise.
According to the most recent Homeownership Opportunities and Market Experience (HOME) Survey from the National Association of REALTORS®, nearly 3/4 of people — 73 percent — believe that now is a good time to sell a home. That’s up from 65 percent last quarter (Q1 2019), a jump of 8 percent.Continue Reading
