Buying Beats Renting in 22 Major U.S. Cities

Written by Treasure Island FL Mortgage Syndicated User on October 1, 2024. Posted in Affordability, For Buyers, Home Prices, Inventory, Mortgage Rates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below):As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. Things are moving fast, and your area might...

Are We Heading into a Balanced Market?

Written by Treasure Island FL Mortgage Syndicated User on September 1, 2024. Posted in For Buyers, For Sellers, Inventory, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know.What Is a Balanced Market?A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced...

What More Listings Mean When You Sell Your House

Written by Treasure Island FL Mortgage Syndicated User on May 1, 2024. Posted in For Sellers, Inventory, Mortgage Treasure Island FL, Selling Tips, Treasure Island FL Mortgage.

The number of homes for sale is playing a big role in today’s housing market. And, if you’re considering whether or not to list your house, today’s limited supply is one of the biggest advantages you have right now. That’s because your house stands out more when the inventory is low, especially if it’s priced right.But the supply of homes for sale is growing. According to the latest data from Realtor.com, new listings (homeowners who just put their house up for sale) are trending up (see graph below): This graph shows more homeowners are putting that sale sign up in their yards compared to the...