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Category: Inventory

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Are Builders Overbuilding Again? Let’s Look at the Facts.

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates, New Construction.

If it feels like you’re seeing new construction signs pop up everywhere, you’re not wrong. Builders have been busy. And it’s left some people wondering: Are we overbuilding like we did right before the 2008 housing crash? No matter what you may hear in the news, there’s no reason for alarm. In reality, data shows builders aren’t racing ahead, they’re actually starting to tap the brakes. Builders Are Pulling Back, Not Piling On Permits (applications to start building new homes) are one of the best early indicators for what’s next for home construction. And right now, building permits...

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Thought the Market Passed You By? Think Again.

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Tips, First-Time Buyers, For Buyers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options. In fact, now might be the ideal time to take another look. With more homes to choose from, prices leveling off in many areas, and mortgage rates easing, today’s market is offering something you haven’t had in a while: options. Experts agree, buyers are in a better spot right now than they’ve been in quite a long time. Here’s what they have to say. Affordability Is Finally Improving  Lisa Sturtevant, Chief Economist at Bright MLS, says affordability is finally...

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Why Some Homes Sell Quickly – and Others Don’t Sell at All

Written by Key Largo Mortgage Syndicated User on . Posted in Agent Value, For Sellers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

A few years ago, inventory hit a record low. Just about anything sold – and fast. But now, there are far more homes on the market. Listings are up almost 20% from this time last year. And in some areas, supply is even back to levels we last saw in 2017–2019. For sellers, that means one thing: Your house needs to stand out and grab attention from day one. That’s especially true when you consider why the number of homes for sale is up. Here’s how it works. Available inventory is a mix of:  Active Listings: homes that have been sitting on the market, but haven’t sold yet New Listings: homes...

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Why Buyers and Sellers Face Very Different Conditions Today

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Home Prices, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

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 friendly Lighter Shades of Blue = Seller strong Inventory Sets the Stage While 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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Condos Could Be a Win for Today’s Buyers

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

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 Choice According to the National Association of Realtors...

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Why Selling Without an Agent Can Cost You More Than You Think

Written by Key Largo Mortgage Syndicated User on . Posted in Agent Value, For Sale by Owner, For Sellers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

Cutting out the agent might seem like a smart way to save when you sell your house. But here’s the hard truth. Last year, homes that sold with an agent went for almost 15% more than those that sold without one. That gap is pretty hard to ignore. And with more homes on the market to compete with right now, selling on your own is a mistake that’s going to cost you. This Isn’t the Market for DIY Selling A few years ago, you might’ve gotten away with a “For Sale By Owner” (FSBO) sign in your yard, navigating the process on your own. That’s because homes were flying off the market and buyers...

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Today’s Tale of Two Housing Markets

Written by Key Largo Mortgage Syndicated User on . Posted in Agent Value, For Buyers, For Sellers, Home Prices, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

Depending on where you live, the housing market could feel red-hot or strangely quiet right now. The truth is, local markets are starting to move in different directions. In some places, buyers are calling the shots. In others, sellers still hold the power. It’s a tale of two markets. What’s a Buyer’s Market vs. a Seller’s Market? In a buyer’s market, there are more homes for sale and not as many buyers. That means homes sit longer, buyers have more negotiating power, and prices tend to soften as a result. It’s simple supply and demand. On the flip side, a seller’s market happens when...

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Why a Newly Built Home Might Be the Move Right Now

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers, Home Prices, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates, Mortgage Rates, Move-Up, New Construction, Rent vs. Buy.

Are you looking for better home prices, or even a lower mortgage rate? You might find both in one place: a newly built home. While many buyers are overlooking new construction, it could be your best opportunity in today’s market. Here’s why. There are more brand-new homes available right now than there were even just a few months ago. According to the most recent data from the Census and the National Association of Realtors (NAR), roughly 1 in 5 homes for sale right now is new construction. So, if you’re not looking at newly built homes, you’re missing out on a big portion of what’s...

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Selling and Buying at the Same Time? Here’s What You Need To Know

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, For Buyers, For Sellers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

If you’re a homeowner planning to move, you’re probably wondering what the process is going to look like and what you should tackle first: Is it better to start by finding your next home? Or should you sell your current house before you go out looking? Ultimately, what’s right for you depends on a lot of factors. And that’s where an agent’s experience can really help make your next step clear. They know your local market, the latest trends, and what’s working for other homeowners right now. And they’ll be able to make a recommendation based on their expertise and your...

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3 Reasons To Buy a Home This Summer

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Tips, For Buyers, Home Prices, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

Are you thinking about buying a home, but not sure if now’s the right time? A lot of people are waiting and wondering what the market’s going to do next. But here’s something only the savviest buyers realize: This summer might actually be the best time to buy in years. Here are three big reasons why. 1. You Have More Negotiating Power After several years of sellers having all the leverage, things are starting to shift. Check out the graph below. It uses data from Redfin to show that right now, there are more sellers active in the market than buyers: Take a look at what happened back in...

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