The nation’s surging home prices don’t seem to care about the recession the country is mired in. They can’t be bothered by the deadly coronavirus pandemic or the double-digit unemployment that’s come as a result. Instead, prices are defying logic, expectations, and even belief, as they shoot up to record highs amid an unprecedented health and…
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With the strength of the current housing market growing every day and more Americans returning to work, a faster-than-expected recovery in the housing sector is already well underway. Regardless, many are still asking the question: will we see a wave of foreclosures as a result of the current crisis? Thankfully, research shows the number of foreclosures is expected to be much lower…
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With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase and so few houses for sale right now, there’s a disconnect between supply…
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In June, the number of first-time homebuyers accounted for 35% of the existing homes sold, a trend that’s been building steadily throughout the year. According to the National Association of Realtors (NAR): “The share of first-time buyers increased in March through June—right into the heart of the pandemic period and the surge in unemployment—and is now trending higher…
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In today’s fast-paced world where answers are just a Google search away, there are some who may question the benefits of hiring a real estate professional when selling a house. The reality is, the addition of more information can lead to more confusion. A real estate agent can be your essential guide, but truth be told,…
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Throughout the home buying process, you are going to hear many terms that you may not be familiar with. A Realtor may talk to you about a home’s value or about what they found doing a CMA, comparative market analysis. Your lender might talk to you about your debt-to-income ratio or the latest mortgage interest rates. Fortunately, you don’t need to know all of these terms…
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Buying your first home can be nerve-wracking, not to mention downright expensive. While it may seem tempting to cut your purchase expenses, resist the urge to skip the home inspection. Why? A home inspection helps you identify health, safety, and repair issues that you may need to ask the seller to remedy prior to closing. It can…
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A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult. Normally, there’s a simple formula to determine the future price of any item: calculate the supply of that…
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A short while ago, I noted that an analysis by Redfin found list prices had already dipped by 6.4% from March to April. This was, as many thought, the first sign of a general decline in housing prices. It turns out that that’s not what has happened (thus far, at least). The Wall Street Journal reported: “The economy is shrinking,…
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With every day of this pandemic feeling like it brings a fresh batch of news, you’d be forgiven for feeling confused about the actual state of things now. While many cities start to reopen—and some continue to experience a high volume of new COVID-19 cases—it’s hard to know how any sector of the economy is doing,…
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