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Real Estate Blog

Tuesday, June 4, 2024   /   by Amy Richardson

What can you expect if you Buy or Sell a Home in June

June tends to be a busy month in the housing market, with increased activity in buying and selling homes.
Here are some key points to keep in mind if you’re planning to Buy a home this June:
Increased Competition: Late spring into summer sees a surge in homebuyer activity. Families often prefer to move after the school year ends and before the next one begins. As a result, more buyers will be actively searching for homes during this time.
More Sellers Listing: The good news is that June is also when more sellers decide to list their homes. This means you’ll have a broader range of options to choose from. Keep an eye out for new listings hitting the market.
Having an experienced reliable real estate agent by your side is crucial during this bustling season. Here’s how they can assist you:
Stay Informed: Your agent will keep you updated on the latest listings, ensuring you don’t miss out on any opportunities. They’ll provide details on new homes hitt ...

  homebuyers, buyer demand, home selling, housing market

Monday, May 27, 2024   /   by Amy Richardson

How Many Homes Are Investors Actually Buying?

Are big investors really buying up all the homes today?
If you’re trying to find a house to buy, this may be
something you’re wondering about. Maybe you’ve read about it or seen reels on
social media saying investors buying all the homes is making it even harder to
find what the average buyer is looking for. But spoiler alert – there’s a lot
of misinformation out there. To clear things up, here's the scoop on what's
really happening. A lot of the big investor activity is actually in the
rearview mirror already.
The Wall Street Journal (WSJ) explains:
“Investors of all sizes spent billions of dollars buying
homes during the pandemic. At the 2022 peak, they bought more than one in every
four single-family homes sold, though more recently their activity has slowed
as interest rates rose and supply became tighter.”
The key here is investor activity has slowed significantly,
and even during the peak of investor buying, 3 ou; ...

  homebuyers, housing market, investors

Tuesday, May 14, 2024   /   by Amy Richardson

Should I Wait for Mortgage Rates To Come Down Before I Move?

If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you.

In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold.

But when rates start to come down, things change. It goes from limited or weak demand to good or strong demand. That’s because a big portion of the buyers who sat on the sidelines when rates were higher are going to jump back in and make their moves happen. The graph below helps give you a visual of how this relationship works and where we are today:

As Lisa Sturtevant, Chief Economist s ...

  buyer demand, home selling, mortgage rates

Wednesday, December 6, 2023   /   by Amy Richardson

Sellers are cutting home prices at a record level. Here's what's driving the trend

By Joanne Drilling – National Data Reporter, The Business Journals

Dec 6, 2023

High interest rates are weighing heavily on homebuyers, but they also are prompting a record percentage of sellers to drop their prices.
That's according to an analysis of pricing data from Redfin Corp., which found 20.8% of active listings nationally had a price drop in October.
Nationally, the weekly average for price drops was nearly 7% for the four weeks ended Oct. 29. That's the highest point on record, according to Redfin.  

Interest rates aren't the only factor in the drops, but they are compounding the affordability equation at time when many sellers are pricing aggressively.
“Some sellers are pricing too high because they have FOMO after their neighbor’s house sold well over asking price two years ago,” said Seattle Redfin Premier agent Patrick Beringer. “While low inventory is driving some competition, and relatively affordable homes ; ...

  homebuyers, real estate

Home Smart - Savvy Realty Group
Amy Richardson
6909 W Ray Rd #21
Chandler, AZ 85226

© 2024 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Amy Richardson - HomeSmart are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. June 21, 2024
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