Wednesday, October 4, 2023 / by Richard Eimers
Your buyers likely will see the most housing options, least competition and lowest prices of the year this week, according to new realtor.com® research.
Home buyers may want to be in the market this week: It’s the time of year with the most favorable conditions for purchasing a property, a new study shows.
Historically, the week of Oct. 1–7 brings the strongest balance of market conditions, with greater home listings, less buyer competition and lower prices compared to other times of the year, according to realtor.com®’s “Best Time to Buy Report(link is external).” That’s welcome news for buyers, who have been facing severe inventory and affordability constraints.
However, there remain plenty of market headwinds, such as mortgage rates at a 23-year high. The monthly payment to finance a median-priced home is still more than 20% higher than last year, even with home prices moderating in some markets, says realtor.com® Chief Economist ...
Tuesday, August 29, 2023 / by Richard Eimers
Mortgage rates kept climbing in the last week. Buyers in this real estate market notice these affordability changes, and so we can see in the data fewer home purchase offers, slightly climbing unsold inventory, and slightly more price reductions for the homes that are on the market.
Rising rates makes more inventory. So how much inventory will we add this fall? As of now, these slowing signals are subtle. If mortgage rates jump to say 8%, that’s when we’d see big changes in inventory and home prices.
Every week Altos Research tracks every home for sale in the country. We analyze all the pricing, supply and demand, and all the changes in that data and we make it available to you before you see it in the traditional channels. If you aren’t using Altos market reports with your clients, your buyers and sellers, now might be the time to step up. Go to altosresearch.com and book a free consult with our team. Because everyone is worried about what’s happening right n ...