The bidding wars and rising housing prices that defined the 2021 market forced frustrated buyers to the sidelines with hopes that the 2022 market would cool. Unfortunately for those buyers, the new year hasn’t brought lower pricing. According to industry experts, the seller’s market is here to stay. “The 2022 housing market is skewed heavily… [Read More]
How To Make an Offer on A Home
Finding your dream home can be exciting but also a bit terrifying. Are you sure it’s the one? After all, the offer you put in is a legally binding agreement and that agreement includes a great deal of details. There are several things to consider before you make an offer on a house. First, have… [Read More]
Lumber Shortage Sends Home Prices Soaring
As the housing market tightens, potential buyers are flocking to new construction in record numbers, but several factors are making those homes much more expensive than ever before. The first is a significant shift in the market’s composition because of the scarcity of existing properties. About one out of every four homes for sale is… [Read More]
U.S. Housing Market Pauses But Remains Hot
A new report released by relator.com finds the U.S. housing market took a breather recently. During the first week of November, buyers and sellers focused on current events according to the report. Between the presidential election and a rise in coronavirus cases, buyers and sellers had a reason hesitate according to the report. Even while… [Read More]
New Home Sales Surge to Highest Level Since 2006
U.S. new-home sales have surged to its fastest pace since before the great recession despite the pandemic. Sales of new homes have increased by 4.8% the Census Bureau announced last week. The housing marked extended its winning streak as Americans continued taking advantage of record-low mortgages. Sales of new single-family homes exceeded an annual rate… [Read More]
Mortgage Rates Hit Another Record Low
Mortgage rates have fallen to another record low for the ninth time this year since March. This is according to the Primary Mortgage Market Survey, a weekly survey of rates from Freddie Mac. The 15-year fixed-rate mortgage dropped to 2.35% while the average rate on a 30-year fixed-rate mortgage fell to 2.87%. That is the… [Read More]