Special offer

VIDEO-Are We In a Housing Bubble?

Real Estate Agent with Kime Realty 6502376645

VIDEO-Are We In a Housing Bubble? Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.

VIDEO-Are We In a Housing Bubble - Spring Should Bring a Wave of Buyers to the Market

VIDEO-Are we in a housing bubble? In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of buyers begin their search. And experts project that this year will be no exception.

Right now, buyer demand is low due to a combination of normal seasonal trends and a reaction to last year’s rise in mortgage rates. But rates have started to come down since last November, which has more and more potential buyers planning to jump into the market. That means right now is a sweet spot if you’re in a good position to buy before more buyers reappear. VIDEO-Are we in a housing bubble? Affordability is beginning to improve, but demand is still low — for now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:

“. . . expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.”

If you’re ready to buy a home, right now is the best time to do so before your competition grows and more buyers enter the market.

VIDEO-Are We In a Housing Bubble - Today’s Sellers Are Motivated

Low demand from buyers often means sellers are more motivated to work with you, and that can set you up to buy a home on your terms. In fact, sellers have been more willing to negotiate this winter because there are fewer buyers in the market. According to a recent article from Forbes:

“. . . sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter of last year.”

Bottom Line

VIDEO-Are we in a housing bubble? If you’re in a good position to make a move, it may make sense to move before spring. Working with your team of expert real estate advisors is the best way to learn about the current market and what it means for you. Let’s connect today to determine the best plan to achieve your home-buying goals.

About Wendy & Greg Kime - Kime Realty Real Estate Agency

Wendy & Greg Kime
Kime Realty - Plymouth, MI
Plymouth MI Real Estate Experts

For more information please visit our website at KimeRealty.com !

Jan 26, 2023 01:01 PM
John Pusa
Glendale, CA

Hello Wendy & Greg Kime very good helpful report about housing bubble.

Jan 26, 2023 02:03 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Wendy & Greg Kime sorry but anyone who says we are in a housing bubble obviously was not around to see what a real housing bubble was in the first decade of this century.

Jan 26, 2023 04:38 PM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Jan 27, 2023 04:32 AM
Kimo Jarrett
Cyber Properties - Huntington Beach, CA
Pro Lifestyle Solutions

I'm not as optimistic about our economy. Hopefully, your assessment and NAR's chief economist is correct. Regardless, time will tell within a few months, won't it? 

Jan 28, 2023 12:31 AM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Thanks for this information, video and post.  For some reason when I played the video it was shaking all the way through it.  Not sure if that was a problem on my end or yours?  You might want to check it out.  (But I watched it anyways 🤣)

Feb 01, 2023 12:49 PM