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Category: Pricing

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3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

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

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically....

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What’s Ahead for Home Prices?

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.

As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible...

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What Experts Say Will Happen with Home Prices Next Year

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.

Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years, home prices have risen at an unsustainable rate, leaving many to wonder how long it would last. If you’re asking yourself: what’s ahead for the price of my home, know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value. Historically, home prices have appreciated at a rate near 4%. For 2023, the average of six major...

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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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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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3 Tips for Buying a Home Today

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Key West Florida News, Key West News, Move-Up Buyers, Pricing.

If you put off your home search at any point over the past two years, you may want to consider picking it back up based on today’s housing market conditions. Recent data shows the supply of homes for sale is increasing, giving buyers like you additional options. But it’s important to keep in mind that while inventory is improving, it’s still a sellers’ market. And that means you need to be prepared as you set out on your home search. Here are three tips for buying the home of your dreams today. 1. Understand How Mortgage Rates Impact Your Homebuying Power Mortgage rates have increased...

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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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What’s Causing Ongoing Home Price Appreciation?

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.

If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand. While Growing, Housing Supply Is Still Low Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t enough homes on the market...

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Think Home Prices Are Going To Fall? Think Again

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, Pricing.

Over the last two years, the rate of home prices appreciated at a dramatic pace. While that led to incredible equity gains for homeowners, it’s also caused some buyers to wonder if home prices will fall. It’s important to know the housing market isn’t a bubble about to burst, and home price growth is supported by strong market fundamentals. To understand why price declines are unlikely, it’s important to explore what caused home prices to rise so much recently, and where experts say home prices are headed. Here’s what you need to know. Home Prices Rose Significantly in Recent Years The...

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Should You Buy a Home with Inflation This High?

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, For Buyers, Key West Florida News, Key West News, Pricing.

While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still going up. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now? Greg McBride, Chief Financial Analyst at Bankrate, explains how inflation is affecting the housing market: “Inflation will have a strong influence on where mortgage rates go in the months ahead. . . . Whenever inflation finally starts to ease, so will mortgage rates — but even then, home prices are...

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