Why Is Housing Inventory So Low?

Written by Siesta Key Mortgage Syndicated User on September 14, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Siesta Key, New Construction, Siesta Key Mortgage.

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why.There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply.Underbuilding Is a Long-Standing ProblemOne of the big reasons inventory is low is because builders haven’t been building...

Planning to Retire? Your Equity Can Help You Make a Move

Written by Siesta Key Mortgage Syndicated User on September 11, 2023. Posted in Demographics, For Sellers, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities. As the door to this exciting chapter opens, one thing you may be considering is selling your house and finding a home better suited for your evolving needs.Fortunately, you may be in a better position to make a move than you realize. Here are a few reasons why.Consider How Long You’ve Been in Your HomeFrom 1985 to 2009, the average length of time homeowners stayed in their homes was roughly six years. But according to the National Association of Realtors (NAR), that number is higher...

Why It’s Still a Seller’s Market Today

Written by Siesta Key Mortgage Syndicated User on September 4, 2023. Posted in For Sellers, Housing Market Updates, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

Even though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller’s market because the supply of homes for sale is so low. But what does that really mean for you? And why are conditions today so good if you want to sell your house?The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Housing inventory is measured by the number of available homes on the market. It’s also measured by months’ supply, meaning the number of months it would take to sell all those available...

Homeowners Have a Lot of Equity Right Now [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on September 1, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Mortgage Siesta Key, Siesta Key Mortgage.

Some HighlightsYour equity grows as you pay down your home loan and as home prices increase. With home prices rising again, your equity is getting an extra boost.Almost half of homeowners are equity rich because they have at least 50% equity in their homes. If you’ve been in your home for a while, you might have gained a considerable amount of equity, too.Want to find out how much equity you have? Connect with a trusted real estate agent for a Professional Equity Assessment Report (PEAR).

How Inflation Affects the Housing Market

Written by Siesta Key Mortgage Syndicated User on August 31, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Siesta Key, Siesta Key Mortgage.

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.The Relationship Between Housing Inflation and Overall InflationShelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them.Much...

Buyer Traffic Is Still Stronger than the Norm

Written by Siesta Key Mortgage Syndicated User on August 30, 2023. Posted in Demographics, For Sellers, Housing Market Updates, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of...

Why You May Still Want To Sell Your House After All

Written by Siesta Key Mortgage Syndicated User on August 29, 2023. Posted in Demographics, For Sellers, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

Even though you may feel reluctant to sell your house because you don’t want to take on a mortgage rate that’s higher than the one you have now, there’s more to consider. While the financial side of things does matter, your personal needs may actually matter just as much. As an article from Bankrate says:“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”So, ask yourself this: why did I want to move in the first place?Chances are your...

Today’s Housing Market Has Only Half the Usual Inventory [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on August 25, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

Some HighlightsThere are only about half the number of homes for sale compared to the last normal years in the market. That means buyers don’t have enough options right now. So, if you work with an agent to list your house, it should be in the spotlight. If you’re thinking of selling, get in touch with a local real estate agent so your house can stand out while there’s such a shortage of supply and buyers are craving more options.

More Jobs and Better Pay Leads to More Buyer Demand

Written by Siesta Key Mortgage Syndicated User on August 24, 2023. Posted in For Sellers, Housing Market Updates, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

There’s been talk about a recession for quite a while now. But the economy has been remarkably resilient. Why? One reason is employment and wages have stayed strong. Let’s look at the latest information on each one and why both are good news if you’re thinking about selling your house.More Jobs Are Being CreatedInstead of facing the job losses typical of any recession, the economy has been growing and adding jobs. According to the Bureau of Labor Statistics (BLS), 187,000 jobs were created in July, which is up from the 185,000 created in June. That means more people are finding work. In fact,...

Why You Need a True Expert in Today’s Housing Market

Written by Siesta Key Mortgage Syndicated User on August 23, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you through each unique step of the process. The reality is, not all agents operate the same way. To truly make a powerful and confident decision as you buy or sell a home, you need a real estate expert who uses their knowledge of what’s really happening with home prices, housing supply, industry...

Category: For Sellers