Market Trends Archives

It May be Getting Easier for Buyers to Find a Home

Advice, Buyer, Market Trends, Real Estate / By Keith LaBrunda - RE/MAX Town & Valley

A significant challenge for homebuyers in recent years has been the scarcity of available properties. However, this trend is beginning to shift. Recent data from Realtor.com, illustrated in the graph below, indicates an increase in the housing market inventory in 2024, surpassing the figures from the previous years (2021-2023): Is Buying a Home Now More Feasible? The situation is mixed. According to Realtor.com: “There were nearly 15% more homes for sale in February than a year earlier . . . That alone could jolt the housing market a bit if more “For Sale” signs continue to appear. However, the nation […]

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Third Week of April is the Ideal Time to List Your House for Sale

Advice, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

Considering a change of scenery? Now might be the prime time to embark on that journey. According to industry insiders, the optimal period to list your home is just around the bend. A study by Realtor.com, analyzing housing market patterns over recent years (excluding the anomaly of 2020), pinpointed the prime week for placing your home on the market in 2024 as April 14-20: “Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the best time to sell—that

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Why a Housing Market Crash Isn’t on the Horizon

Advice, Buyer, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

Home buyers waiting for the housing market to collapse, driving home prices lower, might need to adjust their expectations. Contrary to hopes for a downturn, current data indicates a continued rise in home prices. The landscape of today’s housing market bears little resemblance to the pre-2008 crash conditions. Here are the key reasons why an impending crash is unlikely: Stricter Loan Requirements Enhance Market Stability Obtaining a mortgage is significantly more challenging now than in the period leading up to the 2008 crisis. Previously, lenient lending standards allowed almost anyone to secure a home loan or refinance, contributing to the

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Home Price Headlines Can Be Confusing

Advice, Buyer, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

Amidst the buzz around falling home prices you might catch in the news, it’s crucial to look beyond the headlines. The reality is, the broader narrative doesn’t align with the snippets you’re hearing. A closer examination of the national figures for 2023 reveals an overall positive trajectory in home prices throughout the year. Despite some regional variations and occasional national dips, these instances were outliers rather than a prevailing trend. The real story of the past year is one of growth, not decline. Let’s delve deeper into the facts to clarify the situation. 2023: A Year of Stabilized Home Price

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Foreclosure Rates Remain Below Historical Norms

Market Trends, Real Estate / By Keith LaBrunda - RE/MAX Town & Valley

Noticed headlines recently about rising foreclosures in the current housing market? These reports might stir some concern about the future market conditions. However, it’s crucial to look beyond the sensationalist titles for the complete picture. Understanding the Reality Behind the Headlines The narrative around an increase in foreclosures often lacks context. Media reports tend to compare recent figures against periods of historically low foreclosure rates, painting a more dramatic picture than warranted. During 2020 and 2021, foreclosure moratoriums and forbearance programs significantly aided homeowners, helping them navigate through tough times without losing their homes. The cessation of these programs naturally

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Two Key Factors Influencing Mortgage Rates

Advice, Buyer, Market Trends, Mortgage Rates, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

As a potential homebuyer, monitoring mortgage rates is likely a priority for you. Recently, these rates have seen significant fluctuations – from historic lows to dramatic increases, and now a slight decrease. But what drives these changes? The factors influencing mortgage rates are diverse and complex. Let’s explore a couple of the most significant ones. Inflation and the Role of the Federal Reserve Although the Federal Reserve (commonly known as the Fed) does not set mortgage rates directly, its actions significantly influence them. The Fed adjusts the Federal Funds Rate in response to inflation, economic conditions, and employment rates, among

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Could a “Silver Tsunami” Reshape the 2024 Housing Market?

Advice, Buyer, Market Trends, Real Estate, Seller, Senior Housing / By Keith LaBrunda - RE/MAX Town & Valley

The term “Silver Tsunami” has been buzzing online, sparking curiosity about its meaning and potential impact on the housing market. Let’s explore this concept and understand why it’s unlikely to cause a dramatic shift in the housing market. Understanding the “Silver Tsunami” An article from HousingWire describes the “Silver Tsunami” as: “. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .” The idea is that as the baby boomer generation ages, a considerable number might downsize their homes. Given the size of this demographic, a collective move could lead to a

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Advantages of Buying a Multi-Generational Home

Advice, Buyer, Real Estate, Senior Housing / By Keith LaBrunda - RE/MAX Town & Valley

Have you ever considered living in a home with your extended family, including grandparents, parents, or other relatives? You’re not alone in this thought. An increasing number of buyers are choosing to purchase homes that accommodate multiple generations. Let’s delve into the key reasons behind this trend to determine if such a home could be a suitable choice for you as well. The Rising Preference for Multi-Generational Homes The National Association of Realtors (NAR) highlights affordability as one of the primary reasons driving the demand for multi-generational homes (refer to the accompanying graph): First-time homebuyers are particularly attracted to the

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Experts Predict Modest Growth in Home Prices in 2024

Advice, Buyer, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

Despite a national trend of rising home prices, there’s still a lingering concern among some that prices might decrease. A Fannie Mae survey reveals that 24% of respondents anticipate a decline in home prices over the next year. This statistic highlights that nearly one in four individuals are grappling with this uncertainty, possibly including you. To alleviate these worries, let’s delve into what specialists in the field are predicting for this year’s home prices. Predicted Modest Growth in Home Prices Refer to the accompanying graph for the latest predictions from eight distinct sources: The graph’s blue bar indicates a consensus

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The Downward Trend in Mortgage Rates is Good for Sellers

Advice, Buyer, Market Trends, Mortgage Rates, Real Estate, Seller / By Heather Montalbano - RE/MAX Town & Valley

For homeowners contemplating selling but hesitant due to previously high mortgage rates, the current downward trend in rates is a welcome development. Since peaking at 7.79% last October, mortgage rates have consistently stayed below 7% for over a month (refer to the accompanying graph): While rates may not return to the exceptionally low 3% of the past ‘unicorn’ years, they are anticipated to decrease further in the near future. Dean Baker, Senior Economist at the Center for Economic Research, notes: “It also appears that mortgage rates are now falling again. They will almost certainly not fall to pandemic lows, although

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