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Category: Housing Market Updates

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New Homes May Have the Incentives You’re Looking for Today

Written by Key West Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Key West Florida News, Key West News, Move-Up Buyers, New Construction.

According to the U.S. Census Bureau, this year, builders are on pace to complete more than a million new homes in this country. If you’ve had trouble finding a home to buy over the past year, it may be time to work with your trusted agent to consider a new build and the incentives that come with it. Here’s why. The Supply of Newly Built Homes Is Rising When looking for a home, you can choose between existing homes (those that are already built and previously owned) and newly constructed ones. While the inventory of existing homes is on the rise today, it’s still in tight supply, meaning it...

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Buyers: You May Face Less Competition as Bidding Wars Ease

Written by Key West Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Key West Florida News, Key West News, Move-Up Buyers.

One of the top stories in recent real estate headlines was the intensity and frequency of bidding wars. With so many buyers looking to purchase a home and so few of them available for sale, fiercely competitive bidding wars became the norm during the pandemic – and it drove home prices up. If you tried to buy a house over the past two years, you probably experienced this firsthand and may have been outbid on several homes along the way. But here’s the news you’ve been waiting for: data shows clear signs bidding wars are easing this year. According to the National Association of Realtors...

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What’s Actually Happening with Home Prices Today?

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Housing Market Updates, Key West Florida News, Key West News, Pricing.

One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture. Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today. Appreciation is when home prices increase. Depreciation is when home...

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Why You May Want To Start Your Home Search Today

Written by Key West Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Key West Florida News, Key West News, Move-Up Buyers.

If you’re thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s home prices, and more to try to decide if you want to jump into the market. While some buyers may wait things out, there’s a reason serious buyers are making moves right now, and that’s the growing number of homes for sale. So far this year, housing inventory has been increasing and that’s making the prospect of finding your dream home less difficult. While there are always reasons you could delay making a big decision, there are also...

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What Would a Recession Mean for the Housing Market? [INFOGRAPHIC]

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Key West Florida News, Key West News.

Some Highlights If you’re wondering what a potential recession could mean for the housing market, here’s what history tells us. In four of the last six recessions, home prices actually appreciated, only falling during the early 90s and the housing crash in 2008. Mortgage rates, though, declined during each of the previous recessions. If you have questions about buying or selling a home in today’s market, let’s connect. Content previously posted on Keeping Current Matters

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Why Today’s Housing Inventory Proves the Market Isn’t Headed for a Crash

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Key West Florida News, Key West News, Selling Myths.

Whether or not you owned a home in 2008, you likely remember the housing crash that took place back then. And news about an economic slowdown happening today may bring all those concerns back to the surface. While those feelings are understandable, data can help reassure you the situation today is nothing like it was in 2008. One of the key reasons why the market won’t crash this time is the current undersupply of inventory. Housing supply comes from three key places: Current homeowners putting their homes up for sale Newly built homes coming onto the market Distressed properties (short...

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What Sellers Need To Know in Today’s Housing Market

Written by Key West Mortgage Syndicated User on . Posted in For Sellers, Housing Market Updates, Key West Florida News, Key West News, Pricing.

If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Homes priced right are selling very quickly,...

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Three Reasons To Buy a Home in Today’s Shifting Market [INFOGRAPHIC]

Written by Key West Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Key West Florida News, Key West News, Move-Up Buyers.

Some Highlights The housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about buying a home. Housing inventory is increasing, which means more options for your search. Plus, the intensity of bidding wars may ease as buyer demand moderates, leading to fewer homes selling above asking price. If you’re ready to buy a home, now may be the moment you’ve been waiting for. Let’s connect to start the homebuying process today. Content previously posted on Keeping Current Matters

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A Real Estate Professional Helps You Separate Fact from Fiction

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Key West Florida News, Key West News, Pricing, Selling Myths.

If you’re following the news, chances are you’ve seen or heard some headlines about the housing market that don’t give the full picture. The real estate market is shifting, and when that happens, it can be hard to separate fact from fiction. That’s where a trusted real estate professional comes in. They can help debunk the headlines so you can really understand today’s market and what it means for you. Here are three common housing market myths you might be hearing, along with the expert analysis that provides better context. Myth 1: Home Prices Are Going To Fall One piece of fiction many...

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A Window of Opportunity for Homebuyers

Written by Key West Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Key West Florida News, Key West News, Move-Up Buyers.

Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market. As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales. But the transition back toward pre-pandemic levels isn’t a bad thing. In fact, the years leading up to the pandemic were some of the best the housing market has seen. That’s why, as the market undergoes this shift, it’s important to compare today not to the abnormal pandemic years, but to the most recent normal years to show how the...

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