Sunday, February 25, 2024 / by Richard Eimers
More buyers appear to accept escalating home prices as long as mortgage rates stay lower, NAR data shows.
Existing-home sales accelerated in January as home buyers shrugged off rising home prices—which surged to an all-time high—and took advantage of lower mortgage rates and moderately higher inventory, according to the National Association of REALTORS®.
NAR’s latest existing-home sales data, which reflects completed transactions for single-family homes, townhomes, condos and co-ops, jumped 3.1% month over month in January. Still, sales are down 1.7% compared to a year earlier.
“While home sales remain sizably lower than a couple of years ago, January’s monthly gain is the start of more supply and demand,” says NAR Chief Economist Lawrence Yun. “Listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year.”
Although there were 2% more homes on the market in January than ...
Monday, October 16, 2023 / by Richard Eimers
Study: What’s more stressful than buying a new home? A divorce or finding a new job. But events such as weddings, car buying or finding a college are not.
SEATTLE – Nearly two-thirds of recent U.S. homebuyers (59%) think purchasing a house is more stressful than dating, according to a report from Qualtrics commissioned by Redfin covering May-June, 2023.
“Getting ghosted by your date is stressful, but purchasing a home in today’s market comes with its own unique set of anxieties,” says Redfin Chief Economist Daryl Fairweather. “Buyers are increasingly ghosting sellers as housing costs climb, and high mortgage rates are prompting many homeowners to stay put instead of selling – meaning house hunters have a record low number of homes to swipe right on.”
Of the life events respondents had to choose from, respondents found only two more nerve-wracking than buying a home: 57% said divorce and 56% said finding a new job.
The results don& ...
Friday, September 1, 2023 / by Richard Eimers
When it comes to listing their home, most home sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple. And homeowners who try to do it themselves—or receive bad advice—can end up stuck (months later) with a property that hasn’t sold.
If that’s you, don’t panic! We’ve outlined the top five reasons a home doesn’t sell—and action steps you can take to overcome each of these issues.
Not sure why your property didn’t sell? If you’re not already working with an agent or your listing has expired or been withdrawn, give us a call! We’d be happy to offer a free, no-obligation assessment and create an action plan to get your home SOLD.
This marketing piece is not intended as a solicitation for properties currently in an exclusive agreement with another Broker.
1. BAD TIMING ...