The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher, Deputy Director of … [Read more...] about Home Prices: What Happened in 2020? What Will Happen This Year?
For Sellers
Are There Going to Be More Homes to Buy This Year?
If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, … [Read more...] about Are There Going to Be More Homes to Buy This Year?
How Much Leverage Do Today’s House Sellers Have?
The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time … [Read more...] about How Much Leverage Do Today’s House Sellers Have?
3 Reasons We’re Definitely Not in a Housing Bubble
Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally … [Read more...] about 3 Reasons We’re Definitely Not in a Housing Bubble
What Record-Low Housing Inventory Means for You
The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National … [Read more...] about What Record-Low Housing Inventory Means for You
What Happens When Homeowners Leave Their Forbearance Plans?
According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right … [Read more...] about What Happens When Homeowners Leave Their Forbearance Plans?
Why Moving May Be Just the Boost You Need
As we look back over the past year, we’ve certainly lived through one of the most stressful periods in recent history. After spending so much more time at home throughout the health crisis, some are wondering if they should move to improve their mental health and well-being. This is no surprise … [Read more...] about Why Moving May Be Just the Boost You Need
What Experts Are Saying about the 2021 Job Market
Earlier this month, the Bureau of Labor Statistics (BLS) released their most recent Jobs Report. The report revealed that the economy lost 140,000 jobs in December. That’s a devastating number and dramatically impacts those households that lost a source of income. However, we need to give it some … [Read more...] about What Experts Are Saying about the 2021 Job Market
Why Right Now May Be the Time to Sell Your House
The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows. … [Read more...] about Why Right Now May Be the Time to Sell Your House
Will Forbearance Plans Lead to a Tsunami of Foreclosures?
At the onset of the economic disruptions caused by the COVID pandemic, the government quickly put into place forbearance plans to allow homeowners to remain in their homes without making their monthly mortgage payments. Today, almost three million households are actively in a forbearance plan. … [Read more...] about Will Forbearance Plans Lead to a Tsunami of Foreclosures?
