Explaining Today’s Low Housing Supply [INFOGRAPHIC]

Written by Treasure Island FL Mortgage Syndicated User on October 1, 2023. Posted in Housing Market Updates, Infographics, Mortgage Treasure Island FL, New Construction, Treasure Island FL Mortgage.

Some HighlightsWondering why the supply of homes for sale is limited today? There are a few factors at play.Lack of building over time, the mortgage rate lock-in effect, and people staying in their houses longer are three of the main reasons why supply is low.But real estate agents know exactly where to look and what to do to make your dream a reality. Connect with an agent so you have an expert on your side to help you successfully navigate the market and find your next home.

Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

Written by Treasure Island FL Mortgage Syndicated User on October 1, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.Housing supply comes from three main sources:Homeowners deciding to sell their housesNewly built...

How Inflation Affects the Housing Market

Written by Treasure Island FL Mortgage Syndicated User on September 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.The Relationship Between Housing Inflation and Overall InflationShelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them.Much...

Buyer Traffic Is Still Stronger than the Norm

Written by Treasure Island FL Mortgage Syndicated User on September 1, 2023. Posted in Demographics, For Sellers, Housing Market Updates, Mortgage Treasure Island FL, Selling Myths, Treasure Island FL Mortgage.

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of...

Key Housing Market Trends [INFOGRAPHIC]

Written by Treasure Island FL Mortgage Syndicated User on August 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

Some HighlightsIf you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.Housing inventory is still very low, prices are climbing back up, and homes are selling fast when priced right.Connect with a real estate agent if you want more information about your local area and what the trends mean for your plans to buy or sell.

Homebuyers Are Still More Active Than Usual

Written by Treasure Island FL Mortgage Syndicated User on August 1, 2023. Posted in For Sellers, Housing Market Updates, Mortgage Treasure Island FL, Selling Myths, Treasure Island FL Mortgage.

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked...

Lending Standards Are Not Like They Were Leading Up to the Crash

Written by Treasure Island FL Mortgage Syndicated User on July 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it. Every month, the Mortgage Bankers Association (MBA) releases the Mortgage Credit Availability Index (MCAI). According to their website:“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”Basically,...

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off

Written by Treasure Island FL Mortgage Syndicated User on June 1, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Treasure Island FL, Pricing, Treasure Island FL Mortgage.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word:“Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last few years....

Why Today’s Foreclosure Numbers Are Nothing Like 2008

Written by Treasure Island FL Mortgage Syndicated User on May 1, 2023. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

You’ve likely seen headlines about the number of foreclosures climbing in today’s housing market. That may leave you with a few questions, especially if you’re thinking about buying a house. Understanding what they really mean is mission-critical if you want to know the truth about what’s happening today.According to a recent report from ATTOM, a property data provider, foreclosure filings are up 6% compared to the previous quarter and 22% since one year ago. As media headlines call attention to this increase, reporting on just the number could actually generate worry and may even make you think...

The Three Factors Affecting Home Affordability Today

Written by Treasure Island FL Mortgage Syndicated User on May 1, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Treasure Island FL, Move-Up Buyers, Pricing, Treasure Island FL Mortgage.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest.1. Mortgage RatesWhile mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

Category: Housing Market Updates