Inside this Issue…
- Buying a Home This Fall
- Expert Insights for Today’s Homebuyers
- Patience is Key in a Competitive Market
- Why Listing Prices are Like an Auction’s Reserve Price
- A Deeper Look at Affordability
- Are We in a Housing Bubble? Experts Say No.
- Key Terms to Know in the Homebuying Process
- The Path to Homeownership
- Do I Really Need a 20% Down Payment?
- Things to Avoid After Applying for a Mortgage
- 5 Tips for Making an Offer
- Homebuyers: Hang in There
Start Viewing the Fall 2021 Buyers Guide HERE!
Here’s a sneak peek…
Patience is Key in a Competitive Market
According to realtor.com, the number of sellers listing their houses for sale is on the rise. Looking at the month-over-month change in housing inventory, the number of homes available for sale increased 5.7% in the latest report.
What does this mean for you?
This increase in homes available for sale is good news for buyers. If you’re ready to buy and you’re having trouble finding a home, take comfort in knowing that more options are already coming to the market. The key is sticking with your search, working with your agent, and trusting the process.
While there are more homes on the market today, NAR reports that inventory sits at a 2.6-months’ supply at the current sales pace. For there to be enough homes on the market to meet buyer demand, that number would be 6.0 months of inventory – which is significantly higher than where we are today.