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Home Buying Home Selling Real Estate

National Home Inventory Update

An important factor in today’s market is the number of homes for sale. I normally share local inventory by price point; however, I thought I would take a step back to look at the data on a national level. While inventory levels continue to sit near historic lows, there are indications we may have already hit the lowest point. We’re still not close to a balanced market, which would be a 6 months’ supply of homes for sale. However, we are seeing a slow but steady increase in homes coming up for sale. See the chart below for a long-term perspective.

Given what we are seeing, what does it mean for buyers and sellers?

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Home Buying Home Selling Real Estate

Local Single Family Home Market Update

Whether you are looking to buy, sell or invest in real estate, it is important to understand market conditions. Real estate is hyper-local, with market dynamics changing from subdivision to subdivision. However, county trends generally give you a good idea of what to expect.

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Home Buying Home Selling Real Estate

3 Reasons Why You Should Get a Home Inspection

While the standard is to get a home inspection before closing on your next home, it is not something that always happens. In fact, buyers are often lured into not having a home inspection, with promises of a home warranty or home insurance to “cover any issues” that arise. While that seems like a great deal in theory – it often is solely benefiting the seller. Here are 3 reasons why you shouldn’t pass up on a home inspection, no matter how tempting it may seem.

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Home Buying Home Prices Mortgages Real Estate

Mortgage Interest Rate Update

After creeping up a bit, we saw mortgage interest rates drop again in the last 30 days. The recent change will save new borrowers another $12 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 2.80% as of this week. Last month at this time, they were sitting at 3.02%. Of course, both are historically low.

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Home Buying Real Estate

Tips for Owning A Vacation Rental