Market Updates
Average Property Prices Reach New HighData released last week found that average home values recently surpassed the $350,000 mark for the first time ever, inching up 1.4% from May to June 2023. However, buyers haven't thrown in the towel, even though many would-be...
Market Updates
Help Your Clients Avoid Buyer's RegretBuyer clients are thrilled when they're moved into the new home you helped them buy. But not all homeowners feel this way a few months later for one reason or another. Buyer's remorse is real, and while you may not be able to...
Market Updates
Purchase Mortgage Applications Rose in JuneJune remained a popular month for buyers, even with higher interest rates. Mortgage applications increased for three weeks in a row, reflecting increased buyer activity.The Mortgage Bankers Association's Market Composite...
Market Updates
Existing Home Sales, Inventory on the Rise (Barely)Waiting for a rise in home sales numbers? The National Association of Realtors® (NAR) reported that existing home sales inched up in May by 0.2%, to a seasonally adjusted annual rate of 4.3 million units. This figure...
Market Updates
Selling Rental Properties to Homeowner ClientsSince rental properties are in high demand, you may want to approach your established homeowner clients with listings that are suitable for rental properties. Or a client may be interested in a multi-unit purchase, keeping...
Market Updates
Housing Affordability Posts Solid GainRecent data found that housing affordability improved during the first months of 2023.According to the NAHB/Wells Fargo Housing Opportunity Index (HOI), the combination of rising wages, lower mortgage interest rates and lower home...
Market Updates
It's National Homeownership MonthEven though National Homeownership Month has already begun, you have plenty of time to spread the good news.Your mission: describe the unique benefits of owning one's home, including becoming part of a lasting community, building...
Market Updates
Inventory Increases, Sales SlideThe ever-unpredictable real estate market tossed agents another curve ball last month.Existing home sales fell 3.4% in April from March, with sales over 23% lower year-over-year. However, there was a slight, 1% increase in the inventory...
Market Updates
Mortgage Demand Surges After Fed Suggests Rate Hike PauseAfter 14 months of Federal Reserve rate hikes, chairman Jerome Powell hinted at a potential end to the inflation cooling strategy.This had a positive effect on mortgage rates. They fell slightly in the first...
Market Updates
Renters Take Opposing Views on Home OwnershipConsidering that renters are still priced out of the market in some areas, many of them are feeling hopeless about their prospects.While 51% of them consider home ownership an extremely important financial goal, many are...
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