Gen Z: The Next Generation Is Making Moves in the Housing Market

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents’ roofs to owning their own homes.If you’re a member of this generation, and you’re interested in pursuing your own dream of homeownership, here’s some information you may find helpful on why and where your peers are buying.The Reasons Gen Z Want To Become...

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

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

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.

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

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

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...

More Jobs and Better Pay Leads to More Buyer Demand

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

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 Don’t Need To Fear the Return of Adjustable-Rate Mortgages

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in Buying Myths, For Buyers, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then. And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s break down why that’s happening and why this isn’t cause for concern.Why ARMs Have Gained Popularity More RecentlyThis graph uses data from the Mortgage Bankers Association (MBA) to show how the percentage of adjustable-rate mortgages has increased over the past few years:As the graph conveys, after hovering around 3% of all mortgages in 2021, many more homeowners...

Why Median Home Sales Price Is Confusing Right Now

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing, Selling Myths.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology...

Don’t Expect a Wave of Foreclosures [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in Foreclosures, Infographics, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some HighlightsWith ongoing high inflation pushing up everyday costs, some people are worried that’ll create a flood of foreclosures. Here’s why that’s unlikely. Fewer people are seriously behind on mortgage payments right now. If foreclosures were going to rise a lot, more people would need to be late on their payments.Since most are paying on time, a wave isn’t coming. If you’re concerned about a flood of foreclosures, the data shows that’s not likely.

Sellers: Don’t Let These Two Things Hold You Back

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in Buying Myths, For Buyers, For Sellers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles.Challenge #1: The Reluctance to Take on a Higher Mortgage RateAccording to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):But today, the typical 30-year fixed mortgage rate offered to buyers...

Pricing Your House Right Still Matters Today

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in For Sellers, Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.To set yourself up to see advantages like these, you need to rely on an agent. Only an agent has the expertise needed to find the right asking price for your house. Here’s what’s at stake if that price isn’t accurate for today’s market value.The...

Key Housing Market Trends [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some HighlightsIf you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.Housing inventory is still very low, prices are climbing back up, and homes are selling fast when priced right.Connect with a real estate agent if you want more information about your local area and what the trends mean for your plans to buy or sell.

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