selling buyingbuyingahomebuyingandsellingbuyingahousebuyinghomes interestrates mortgagesbesttimetobuy shouldirent renting rentingvsbuying: Our market is far from the crash of 2008
- 11/18/22 01:09 PM
There is no doubt that the increases in mortgage rates have slowed down the housing market over the last six months, but it’s not even close to what occurred in 2008. The inventory accumulation back then was 10.4 months (MLS stats) whereas currently, it is 3.2 months. So bubbles in inventories generally cause prices to go down as supply becomes greater than demand (the typical supply/demand economics) and competition among sellers becomes heightened, which leads to lower prices. Currently, we have much higher prices and interest rates so the prospect of becoming a homeowner has faded for so many. The lines at … (2 comments)
selling buyingbuyingahomebuyingandsellingbuyingahousebuyinghomes interestrates mortgagesbesttimetobuy shouldirent renting rentingvsbuying: Trade-offs to consider in home sales
- 10/30/22 04:42 PM
October 30, 2022 Most consumers who were or are still looking to buy are somewhat aware of what is occurring in our economy. Serious decisions for so many as to whether to buy, rent or just sit tight where they are have come into play over the last year as rates have doubled. Even when the desired home is found and there is an agreed and accepted price between seller and buyer, this is the first step in the process. Next, an inspection needs to be completed to determine whether or not you are purchasing a “money pit” with thousands … (3 comments)
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There is no doubt that the increases in mortgage rates have slowed down the housing market over the last six months, but it’s not even close to what occurred in 2008. The inventory accumulation back then was 10.4 months (MLS stats) whereas currently, it is 3.2 months. So bubbles in inventories generally cause prices to go down as supply becomes greater than demand (the typical supply/demand economics) and competition among sellers becomes heightened, which leads to lower prices.
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