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Category: Inventory

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Are There More Homes for Sale Where You Live?

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

One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.  Recent data from Realtor.com shows that nationally, there are 36.6% more homes actively for sale now compared to the same time last year. That’s a significant improvement. It gives you far more options for your move than you would’ve had just a year ago. And with supply improving, you’re also regaining a bit of negotiation power. So, if you’re someone who thought about buying a home over the last few years but was discouraged by how limited...

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3 Reasons Why We’re Not Headed for a Housing Crash

Written by Key Largo Mortgage Syndicated User on . Posted in Foreclosures, Infographics, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

Some Highlights Back in 2008, there was an oversupply of homes for sale. Today, there’s an undersupply. The three main sources of inventory show this isn’t like the last time. Existing homes, new homes, and foreclosures are all way below the levels we saw during the housing crash. Inventory data shows there just aren’t enough homes available to have a repeat of what happened back in 2008. 

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Unlocking Homebuyer Opportunities in 2024

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

There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were: They couldn’t find anything in their price range They didn’t have any successful offers or had difficulty competing They couldn’t find the right home If any of these sound like why you stopped looking, here’s...

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Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008

Written by Key Largo Mortgage Syndicated User on . Posted in Economy, Foreclosures, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

Even if you didn’t own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then. As Business Insider says: “Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond.” Here’s why experts are so confident. For the market (and home prices) to crash, there...

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How Long Will It Take To Sell My House?

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

You want your house to sell fast. And you may be wondering how long the whole process is going to take. One way to get your answer? Work with a local real estate agent. They have the expertise to tell you how quickly homes are selling in your area and what’s impacting timelines for other sellers. That way you have realistic expectations and can work together to come up with a plan that’s based on today’s market. Here’s a high-level overview of just one of the factors a great agent will walk you through – the supply of homes for sale and how that impacts your process. The Growing Supply of...

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Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

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

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales. Home Prices Are Expected To Climb Moderately Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry: The reason for continued appreciation? The supply of homes for sale. Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), explains: “One thing that seems to be pretty solid is that home prices are going to continue to go up, and...

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Homebuilders Aren’t Overbuilding, They’re Catching Up

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

You may have heard that there are more brand-new homes available right now than the norm. Today, about one in three homes on the market are newly built. And if you’re wondering what that means for the housing market and for your own move, here’s what you need to know. Why This Isn’t Like 2008 People remember what happened to the housing market back in 2008. And one of the factors that contributed to that crash was that there were too many homes for sale. While only part of the oversupply back then came from builders, the lasting impact is that some people still feel uneasy when they hear...

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The Sweet Spot for Buying Luxury Homes

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up.

If you’ve been looking for a home at the high end of your market, but haven’t found the right one, you may have put your search on hold. But according to recent data, now may be the time to jump back in. Here’s why. There Are More Luxury Homes To Choose From What’s considered the top-end of the market, or a luxury home, will always vary by location. But generally speaking, they’re homes that are valued in the top 5% of any given market. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing (see graph below): As the graph...

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How Many Homes Are Investors Actually Buying?

Written by Key Largo Mortgage Syndicated User on . Posted in Economy, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

Are big investors really buying up all the homes today? If you’re trying to find a house to buy, this may be something you’re wondering about. Maybe you’ve read about it or seen reels on social media saying investors buying all the homes is making it even harder to find what the average buyer is looking for. But spoiler alert – there’s a lot of misinformation out there. To clear things up, here’s the scoop on what’s really happening. A lot of the big investor activity is actually in the rearview mirror already. The Wall Street Journal (WSJ) explains: “Investors of all sizes...

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The Number of Homes for Sale Is Increasing

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

There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to look up. There are more homes up for grabs this year. The graph below uses the latest data from Realtor.com to show in April 2024 there were more homes for sale than there were over the last few years (2021-2023):   As Realtor.com explains: “There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive month of annual inventory growth.” But...

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