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Category: Home Prices

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The Reason Homes Feel Like They Cost So Much (It’s Not What You Think)

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, Home Prices, Key West Florida News, Key West News.

Scroll through your feed and you’ll see plenty of finger-pointing about why homes cost so much. And according to a national survey, a lot of people believe big investors are to blame.Even though data shows that’s not true, nearly half of Americans surveyed (48%) think investors are the top reason housing feels so expensive (see graph below):But that theory doesn’t actually hold up once you look at the data.The Truth About InvestorsInvestors do play a role in the housing market, especially in certain areas. But they’re not buying up all the homes like so many people on social media...

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Is the Housing Market Going To Crash? Here’s What Experts Say

Written by Key West Mortgage Syndicated User on . Posted in Economy, For Buyers, For Sellers, Forecasts, Home Prices, Key West Florida News, Key West News.

If you’ve seen headlines or social posts calling for a housing crash, it’s easy to wonder if home values are about to take a hit. But here’s the simple truth.The data doesn’t point to a crash. It points to slow, continued growth.And sure, it’s going to vary by local area. Some markets will see prices rise more than others. And some may even see small, short-term declines. But the big picture is: home prices are expected to rise nationally, not fall, over the next 5 years.The Real Story Is in the Expert ForecastsIn the Home Price Expectations Survey (HPES) from Fannie Mae, each quarter over...

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2026 Housing Market Outlook

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Forecasts, Home Prices, Key West Florida News, Key West News, Mortgage Rates.

After a couple of years where the housing market felt stuck in neutral, 2026 may be the year things shift back into gear. Expert forecasts show more people are expected to move – and that could open the door for you to do the same.More Homes Will SellWith all of the affordability challenges at play over the past few years, many would-be movers pressed pause. But that pause button isn’t going to last forever. There are always people who need to move. And experts think more of them will start to act in 2026 (see graph below):What’s behind the change? Two key factors: mortgage rates and home...

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What Buyers Say They Need Most (And How the Market’s Responding)

Written by Key West Mortgage Syndicated User on . Posted in Affordability, First-Time Buyers, For Buyers, Home Prices, Key West Florida News, Key West News, Mortgage Rates.

A recent survey from Bank of America asked would-be homebuyers what would help them feel better about making a move, and it’s no surprise the answers have a clear theme. They want affordability to improve, specifically prices and rates (see below):Here’s the good news. While the broader economy may still feel uncertain, there are signs the housing market is showing some changes in both of those areas. Let’s break it down so you know what you’re working with.Prices Are ModeratingOver the past few years, home prices climbed fast, sometimes so fast it left many buyers feeling shut out. But...

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Why Buyers and Sellers Face Very Different Conditions Today

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Home Prices, Inventory, Key West Florida News, Key West News.

There’s a new divide in housing right now. In some states, buyers are gaining ground. In others, sellers still have the upper hand. It all depends on where you live. Curious what’s happening in your state?These 3 maps show how the split is playing out across the country. In each one:Darker Shades of Blue = Buyer friendlyLighter Shades of Blue = Seller strongInventory Sets the StageWhile the number of homes for sale has improved pretty much across the board, how much growth we’ve seen can look dramatically different based on where you live. And that impacts who has the leverage...

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3 Reasons Affordability Is Showing Signs of Improvement This Fall

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Home Prices, Key West Florida News, Key West News, Mortgage Rates.

For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them.But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this fall.The latest data from Redfin shows the typical monthly mortgage payment has been coming down, and is now about $290 lower than it was just a few months ago (see graph below):And here’s why this is...

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Patience Won’t Sell Your House. Pricing Will.

Written by Key West Mortgage Syndicated User on . Posted in For Sellers, Home Prices, Key West Florida News, Key West News, Selling Tips.

Waiting for the perfect buyer to fall in love with your house? In today’s market, that’s usually not what’s holding things up. And here’s why.Let’s be real. Homes are taking a week longer to sell than they did a year ago. According to Realtor.com:“Homes are also taking longer to sell. The typical home spent 60 days on the market in August, seven days longer than last year and now above pre-pandemic norms for the second consecutive month. This was the 17th straight month of year-over-year increases in time on market.”Part of that is because there are more homes on the market. So, with more...

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Why 50% of Homes Are Selling for Under Asking and How To Avoid It

Written by Key West Mortgage Syndicated User on . Posted in For Sellers, Home Prices, Key West Florida News, Key West News, Selling Tips.

If your selling strategy still assumes you’ll get multiple offers over asking, it’s officially time for a reset. That frenzied seller’s market is behind us. And here are the numbers to prove it. From Frenzy to “Normal”Right now, about 50% of homes on the market are selling for less than their asking price, according to the latest data from Cotality.But that isn’t necessarily bad news, even if it feels like it. Here’s why. The wild run-up over the last few years was never going to be sustainable. The housing market needed a reset, and data shows that’s exactly what’s happening right now.The...

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Condos Could Be a Win for Today’s Buyers

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Buying Tips, Downsize, First-Time Buyers, For Buyers, Home Prices, Inventory, Key West Florida News, Key West News.

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in.For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location.And right now, condos are one of the most buyer-friendly parts of the market.Condo Inventory Is Up, And That Means More ChoiceAccording to the National Association of Realtors (NAR),...

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The 3 Things You Risk by Pricing Too High

Written by Key West Mortgage Syndicated User on . Posted in Agent Value, For Sellers, Home Prices, Key West Florida News, Key West News, Selling Tips.

When selling your house, the price you choose isn’t just a number, it’s a strategy. And in today’s market, that strategy needs to be sharp.The number of homes for sale is climbing. And that means buyers have more choices and can be more selective. If your price doesn’t line up with what else is out there, they’ll scroll right past it and go on to the next one.Pricing right from the start is your best move – and a great agent can help make sure you do.Overpricing Comes at a CostAnd more sellers are finding that out the hard way. They list their house based on how things were a year ago...

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