Category: Market Reports

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February 2024 Real Estate and Mortgage Report

There is a narrative we must combat in the real estate market. The latest Fannie Mae report showed 24% of consumers believe their prices are going to depreciate over the last 12 months. We actually had a very strong 2023 and we’re going to finish this year between five and six percent appreciation.   Insights We anticipate that after the past several years of extreme volatility in interest rates, the 30-year fixed rate mortgage rate will continue to moderate over the course of 2024, moving toward a rate below 6 percent by year end. Doug Duncan, Senior VP and Chief Economist, Fannie Mae Geographic patterns in price gains continued to favor housing markets in the Northeast and the South, especially those that remain more affordable and have lagged in home price increases over the past couple of years. Dr. Selma Hepp, Chief Economist for CoreLogic   Forecasts What’s taking place with future home appreciation? The latest reporting of the major forecasters, shows that on average, when we average all eight together, the expectation is a 2.7% home price appreciation. Since November, many of the forecasts appear more optimistic and have increased their projection by upwards of 3%.     Rates

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January 2024 Real Estate and Mortgage Report

The real estate market remains strong, bolstered by the recent drop of mortgage rates. Home prices are expected to continue their upward trajectory in 2024, with most markets reaching new price highs. Insights It appears that mortgage rates are now falling again. They will almost certainly not fall to pandemic lows, although we may soon see rates under 6.0 percent, which would be low by pre-Great Recession standards. Dean Baker, Senior Economist, Center for Economic Research We now forecast three consecutive 25bp cuts in March, May, and June to reset the policy rate from a level that Powell has recently taken to describing as “well into restrictive territory” rather than just “restrictive”. Goldman Sachs, December FOMC Recap Forecasts The real estate market is projected to experience strong demand in early 2024, driven by dropping mortgage rates. This trend is expected to put pressure on home prices, with most markets reaching new price highs throughout the year. Forecasts from various sources, including CoreLogic, Case-Shiller Index, and Realtor.com, indicate an increase in home prices and a recovery of losses recorded in the previous year.     Rates With rates dropping, the demand for homes is expected to be strong in 2024. The

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December 2023 Real Estate and Mortgage Report

Topics: Introduction: Current State of the Real Estate Market 2024 Home Price and Sales Forecasts Mortgage Rates and Buyer Demand Home Affordability and Market Dynamics Opportunities for Home Buyers in the Current Market Conclusion: Invitation for Personal Consultation VIEW THE REPORT Introduction: Current State of the Real Estate Market As we approach the end of 2023, the real estate market continues to present both challenges and opportunities. From the unique perspective of a loan originator, it’s clear that the landscape has undergone significant changes over the past year, shaped by various economic factors. The market has witnessed fluctuations in home prices, shifts in buyer and seller behaviors, and adjustments in mortgage rates, all contributing to a dynamic environment. Despite these changes, the real estate market remains a crucial aspect of the economy, and understanding its current state is essential for potential home buyers. As a loan originator, my role is not just to provide financing options but also to offer insights into how these market dynamics can affect your home-buying journey. Whether you’re a first-time buyer or looking to invest in property, being aware of the current market trends is vital in making informed decisions. In this update, we’ll delve

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November 2023 Real Estate and Mortgage Report

Topics: Introduction: Navigating the Current Market Home Price Trends: Stability Amidst Uncertainty Mortgage Rate Movements and Affordability The Rise of Multi-Generational Living Inventory and New Listings: A Glimmer of Hope The Future of Homeownership: Millennials and Gen Z Conclusion: Your Path to Homeownership   VIEW THE REPORT Introduction: Navigating the Current Market In the November 2023 real estate market, there’s a palpable sense of uncertainty and a need for clarity. Sean Dobson, CEO of Amherst, encapsulates this sentiment, noting the inherent unpredictability in current forecasts. This uncertainty is compounded by a significant inventory shortage, over 40% lower than pre-pandemic levels, which fundamentally impacts market dynamics. Despite these challenges, the market is not poised for a crash, as the basic principles of supply and demand continue to hold. Prices remain robust, and there’s a cautious watch for potential reacceleration in home prices. The Case-Shiller report and the FHFA price index both indicate strength in the housing market, with most regions showing positive price changes. This scenario underscores the importance of understanding and navigating the current market trends amidst fluctuating conditions and widespread myths. Home Price Trends: Stability Amidst Uncertainty Recent Trends in Home Prices The latest data reveals a surprising trend:

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October 2023 Real Estate and Mortgage Report

As the real estate landscape continues to evolve, it’s crucial for potential home buyers like you to have a clear understanding of the current market dynamics. In this month’s report, we delve into the intricate details of the real estate market as of October 2023. Drawing from expert insights and data-driven analysis, we will address the concerns and fears that have gripped consumers, provide historical context, and shed light on the most up-to-date trends. Let’s embark on this journey together and empower you with the knowledge needed to make informed decisions regarding your home-buying journey. VIEW THE REPORT Topics: Introduction: Setting the Stage Foreclosure Myths Debunked Airbnb Market Dynamics Investor Landscape: Not Just Wall Street The Equity Rich Homeowners Inventory Insights: New Listings on the Rise Conclusion: Navigating the Market   VIEW THE REPORT Introduction: Setting the Stage: In the bustling real estate environment of October 2023, confusion and myths abound, making it imperative for potential homebuyers to grasp the true dynamics at play. The market is rife with speculation and headlines that may lead you astray without a clear understanding of the underlying trends. Firstly, let’s address the myths circulating in the marketplace that are causing confusion. One prevalent

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September 2023 Real Estate and Mortgage Report

As the real estate landscape continues to evolve, it’s crucial for potential home buyers like you to have a clear understanding of the current market dynamics. In this month’s report, we delve into the intricate details of the real estate market as of September 2023. Drawing from expert insights and data-driven analysis, we will address the concerns and fears that have gripped consumers, provide historical context, and shed light on the most up-to-date trends. Let’s embark on this journey together and empower you with the knowledge needed to make informed decisions regarding your home-buying journey. VIEW THE REPORT Topics: Introduction: Setting the Stage Home Sales: A Deep Dive Inventory Challenges: Understanding the Shortage The Lending Landscape: Rates, Nepo Buyers, and Assistance Home Prices: Debunking the Crash Myth The Power of Generational Wealth in Homeownership Conclusion: The Road Ahead   VIEW THE REPORT Introduction: Setting the Stage: In the ever-evolving world of real estate, it’s not uncommon for potential home buyers to find themselves amidst a whirlwind of information, often leading to confusion and uncertainty. As we step into September 2023, the market’s dynamics continue to shift, presenting both challenges and opportunities. For those considering making a move, understanding these trends

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