Author Archives: Sabrina Brown
The odds of a home price decline hitting your local housing market, as told by one interactive chart
Historically speaking, that inflation fighting playbook is particularly hard-felt in the housing market, where spiking mortgage rates can quickly price out homebuyers. That’s already starting to happen. On Thursday, the average 30-year fixed mortgage rate hit 5.11%—up from 3.11% in December. A borrower who took out a $500,000 mortgage at a 3.11% rate would owe $2,138 per month. At... Read More
Another housing bubble? ‘We’re skating close to one,’ says Realtor.com economist
This might be the hottest housing market ever recorded. Over the past 12 months, U.S. home prices are up a staggering 19.2%. For comparison, in the years leading into the 2008 housing bust, the biggest 12-month jump was 14.5%. Heading into 2022, real estate research firms forecasted that the ongoing housing boom would lose some steam and home price growth would decelerate. It hasn’t... Read More
The scorching housing market may get a splash of cool water this summer from rising inventory
It’s no secret that the U.S. housing market has been blazing in 2022. The average annual rate of U.S. home price appreciation hit a record high of 19.2% in January, and buyers are engaged in bidding wars like never before. While soaring mortgage rates have caused mortgage applications to dip in recent weeks, it may take time for waning demand to translate to... Read More
Can you buy a house with a low down payment in 2022?
It’s a jungle out there The home buying marketplace is fierce and has been for most of the past two years. A severe lack of inventory increased bidding wars and ballooned housing values at unprecedented rates. This can feel daunting if you aren’t bringing an all-cash offer to the table. But despite the challenges, we... Read More
Will the inventory of homes for sale rebound in 2022?
A for-sale desert A serious lack of homes for sale over the last 18 months has made house hunting in 2022 quite a challenge. It can feel like whenever you find a listing that meets your needs, your offer gets buried under a pile of competitive bids. However, inventory normally recovers by the end of... Read More
Home buyers: Don’t wait for home prices to drop in 2022
Will home prices drop in 2022? The price of homes has risen significantly over the past few years. Many hopeful buyers, especially those on tighter budgets, are eager to learn if and when home prices may become more affordable. The consensus from experts? Don’t hold your breath. Among the six real estate experts we interviewed,... Read More
The West’s housing crunch began over a decade ago. Here’s why
The West’s housing crunch began over a decade ago. Here’s why As Western states, including Utah, Idaho, Arizona and Nevada, cap off two years of record-breaking home sales and price increases, it’s important to note the West’s housing crunch began long before the COVID-19 pandemic threw the national housing market into upheaval. That’s because the entire U.S. — and... Read More
How much over asking price should I offer on a house in 2022?
How much should you offer over the asking price? While every listing and every local market is different, paying above the asking price is very common. So buyers should be ready to consider this when they’re making an offer. “Sometimes listing agents intentionally price a home below market value to make it a more compelling... Read More