Expert Home Price Forecasts Revised Up for 2023

Written by Ponte Vedra Beach Mortgage Syndicated User on September 6, 2023. Posted in Housing Market Updates, Pricing.

Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023. That led to a lot of fear and questions about whether there was going to be a repeat of the housing crash that happened back in 2008. But the headlines got it wrong.While there was a slight home price correction after the sky-high price appreciation during the ‘unicorn’ years, nationally, home prices didn’t come crashing down. If anything, prices were a lot more resilient than many people expected.Let’s take a look at some of the expert forecasts from late last...

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Why Median Home Sales Price Is Confusing Right Now

Written by Ponte Vedra Beach Mortgage Syndicated User on August 26, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Pricing, Selling Myths.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the...

People Want Less Expensive Homes – And Builders Are Responding

Written by Ponte Vedra Beach Mortgage Syndicated User on August 26, 2023. Posted in For Buyers, Housing Market Updates, Interest Rates, Pricing.

In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.People Are Spending Less on Newly Built HomesThe graph below uses the latest information from the Census to show, in June, more of...

Category: Pricing

Expert Home Price Forecasts Revised Up for 2023

Why Median Home Sales Price Is Confusing Right Now

People Want Less Expensive Homes – And Builders Are Responding