Here's why selling today may not be such a smart bet. If you've been contemplating selling your home, you may have heard that now's a great time to do so. A limited amount of housing inventory and low mortgage rates have combined to create a scenario that's definitely a seller's market. And if you list your home now, you may not only get a quick offer, but an offer at a price you're quite happy with.
Home sales in September would have been stronger if there was more inventory, say broker analysts reviewing the September 2021 market report released by the Naples Area Board of Realtors (NABOR). Historically, September is the slowest month for home sales in Naples, but the area’s reputable natural beauty and home-value potential continue to increase its desirability to home buyers. Closed sales in September decreased 18.9% to 914 closed sales from 1,127 closed sales in September 2020, a result of low inventory. A decrease of 213 homes sales might seem like home-buying interest is waning but consider the inventory factor. In September 2020, there were 5,287 properties available. While in September 2021, the month ended with just 1,251 properties for sale—a 76.3% decrease. Comparing showing activity also sheds light on the situation. There were roughly 23 showings per home during September compared to under seven showings per home in September 2020. Basically, more buyers are looking at fewer properties this year.
The modest calming of the U.S. housing market that began late in the summer has continued into early fall, the latest market report1 from Zillow shows. Buyers are finding slightly more selection, more price cuts and a bit more time to evaluate a home before it goes under contract. But in Metro Phoenix, the market is still red-hot with home prices skyrocketing 32.2% over the last 12 months — with the five Metro Phoenix neighborhoods with the biggest home price increases showing increases in median home prices that exceed 40%.
Corporate entities buying single-family homes is nothing new. They've been doing it for years to diversify their portfolios, to add rental income to their revenue streams, or to sell the houses they...
We are amid an extremely hot real estate market. The common lament among realtors is there isn’t enough inventory on the market to meet the demand of potential buyers. Yet, when I click on Zillow or Realtor.com to check on the housing market (my obsession), I’m amazed at how many properties remain unsold months after their listing. Since pretty much every house will sell if correctly priced, my thought is that some of these sellers aren’t particularly motivated, but will do so for an above market price, under the adage that “it only takes one buyer.” Although I can understand this mindset, I suspect there are houses where the owner really does want to sell, but simply is not pricing his or her home appropriately.
Community living in FloridaPhoto by Ronnie George on Unsplash. In the past decade, Florida has been a hotspot for real estate, with many homeowners and prospective buyers looking to purchase their dream home in the state. With high-rise condos going up every day, it's no wonder that millennial home-buyers are now starting to take notice of all the great opportunities down south.
Living Local Content Disclaimer: The information, advice and answers displayed in the Living Local section of FOX21News.com are those of individual sponsors, not FOX21. Are you thinking about making a big move? Buying or selling your home can be scary, but Colorado First Time Home Buyer brings light to just how much wealth you can build. Randy Bell, a Colorado First Time Home Buyer realtor, joins Loving Living Local with first-time home buyer Holden Perry who shares his experience buying his rental!
Sales of previously owned homes increased 7% to a seasonally adjusted annualized rate of 6.29 million units in September, according to the National Association of Realtors. The organization's chief economist pointed to a brief drop in mortgage interest rates in August for the sales gain. First-time buyers made up just...
Buying your first home is an exciting time for everyone, but it’s not always easy to know what to look for. Douglas Elliman agent Harris Benson knows a thing or two about working with first-time homebuyers, as that’s the majority of his clientele. One area where new-construction homes are really...
If you're thinking of buying a home or refinancing one, a big question will be whether to get a 30-year mortgage or opt for a shorter term loan. Most people get a 30-year fixed rate mortgage, which offers lower monthly payments. But there are some instances when it might make sense to consider a 15-year or 20-year mortgage. Such loans will require you to make higher monthly payments, but they come with lower interest rates, and they let you build up equity in your home much faster.
Existing-home sales improved in September, as the threat of rising mortgage rates likely compelled some buyers to lock in deals before the window of opportunity closed. Existing-home sales increased 7% between August and September, hitting a seasonally-adjusted, annual rate of 6.29 million, the National Association of Realtors said Thursday. Compared to a year ago, sales were down 2.3%.
Subscribe to Fortune Daily to get essential business stories delivered straight to your inbox each morning. This month a pair of bullish 2022 housing market outlooks dropped. First, Zillow’s latest forecast projected that home values will soar by 13.6% in the coming 12 months—revised upward from its 11.7% outlook published last month. Then, Goldman Sachs dropped a barn burner, predicting U.S. home prices will climb 16% between now and the end of 2022.
It’s still a tough time to buy a house in Portland. But for the first time in more than a year, agents say the market is getting a little less competitive. The Portland metro housing market continues to heavily favor sellers, according to new numbers from the local listing service RMLS, with homes quickly selling and leaving the market.