As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books.
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Over the past year, many homeowners realized what they need in a home is changing, especially with the rise in remote work.
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With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006.
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In today’s real estate market, mortgage interest rates are near record lows.
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Some Highlights
Buyers hoping for more homes to choose from may be in luck as housing inventory begins to rise. Many experts agree – new sellers listing their homes is great news for buyers and the overall market.
Although the supply increases are modest, more homes means more options for buyers. A rise in inventory may also help slow the price gains we’ve seen recently and could be a sign of good things to come.
If you’re searching for a home to buy, rising inventory is welcome news. Reach out to a local real estate professional today to learn about new listings in your area.
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Last week, Fannie Mae released their Home Purchase Sentiment Index (HPSI).
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An important factor in today’s market is the number of homes for sale.
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In real estate, it’s normal to see ebbs and flows in the market.
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While the housing market forecast for the second half of the year remains positive, there may not be a better time to sell than right now.
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Some Highlights
The amount of wealth Americans have stored in their homes has increased astronomically.
On average, homeowners gained $33,400 in equity over the last 12 months, and the average equity on mortgaged homes is now $216,000.
When it’s time to sell, your home equity can help accomplish your goals. Reach out to a local real estate professional to discuss how you can take advantage of today’s sellers’ market to get the most out of your home sale.
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