Should You Drive Until You Qualify for a Mortgage?
In the mortgage/real estate world there’s a saying: “Drive until you qualify.” It’s a cute way of saying if you can’t afford a home in… Read More »Should You Drive Until You Qualify for a Mortgage?
Housing Market
Commentary on the latest housing market news, with a focus on home prices, buying and selling conditions, and if another housing crash is right around the corner.
Hint: It probably isn’t for a while, at least with regard to home prices. Though you could argue there’s a major affordability crisis at the moment.
In short, a lack of for-sale supply continues to plague the housing market.
This absence of inventory has resulted in record high home prices, despite a surge in mortgage rates from the 2-3% range to 7% and higher.
And it’s probably hurting first-time home buyers the most, whether it’s an affordability issue or the inability to find a property.
At the same time, home sellers remain in a good spot due to this lack of supply and still relatively strong demand.
The problem for them might be finding a suitable replacement property.
One Major Reason Why the Housing Market Is Much Better Off Than It Used to Be
With home prices out of reach for many and affordability the worst it’s been in decades, a lot of folks are talking about another housing… Read More »One Major Reason Why the Housing Market Is Much Better Off Than It Used to Be
If You’re Serious About Selling Your Home, List Below the Zestimate
Recently, I’ve encountered two very different types of for-sale listings in the market. There are the properties that go pending in about a week, essentially… Read More »If You’re Serious About Selling Your Home, List Below the Zestimate
Don’t Attempt to Time the Housing Market
It’s a tale as old as time. Someone attempts to time the market, only to fail miserably. Then they either miss out completely, or chase… Read More »Don’t Attempt to Time the Housing Market
Is This Housing Market Cycle Just Getting Started?
I sometimes wonder with so little equity extracted this cycle if it’s still early innings for the housing market. At least in terms of the… Read More »Is This Housing Market Cycle Just Getting Started?
First-Time Home Buyer Share Hits Record Low: Why That Might Be a Good Thing
The National Association of Realtors (NAR) reported that the first-time home buyer share fell to a historic low of just 24%. That was down from… Read More »First-Time Home Buyer Share Hits Record Low: Why That Might Be a Good Thing
Would-Be Sellers vs. Must-Sell Sellers
I wanted to take a moment to talk about the types of sellers that exist in the housing market. There are typically two types of… Read More »Would-Be Sellers vs. Must-Sell Sellers
Are Mortgage Rates Just a Distraction for High Home Prices?
Over the past several years, we’ve been entirely focused on high mortgage rates. The 30-year fixed surged from sub-3% levels to around 8% in the… Read More »Are Mortgage Rates Just a Distraction for High Home Prices?
Maybe Homeowners Are Struggling with Mortgage Loan Amount Lock-In
When mortgage rates surged off their record lows in early 2022, the housing market ground to a halt. In the span of less than 10… Read More »Maybe Homeowners Are Struggling with Mortgage Loan Amount Lock-In
Home Purchase Lending Expected to Be Lackluster in 2025 Despite Lower Rates
While lower mortgage rates have reinvigorated hope for the stalling housing market, 2025 might not wind up much better than 2024. Sure, lower interest rates… Read More »Home Purchase Lending Expected to Be Lackluster in 2025 Despite Lower Rates