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Home Prices Fall and Listings Soar: Could It Be a Great Time To Buy Despite High Mortgage Rates?

Realtor.com

High mortgage rates—which, as of Wednesday, hover at 6.58% for a 30-year fixed-rate loan—are a stark reminder that many buyers might still struggle on the affordability front. After the COVID-19 pandemic-fueled homebuying rush reduced the number of homes for sale to all-time lows, the inventory of housing has since rebounded.

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10 Housing Markets Cooling the Fastest in 2023

Broke Agent Media

Is your market heating up or slowing down this spring? The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. So, which markets are cooling off the quickest? In turn, home sales remain low.

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What Is the Cost to Sell a House in Texas?

HomeLight

After new home sales set records in 2021 , the Texas housing market cooled in recent months, generally seeing decreases for homes under $400,000 that offset increases for homes priced over $750,000. To illustrate, if you sold your Texas Craftsman home for $325,000, the seller’s costs could range from $22,750 to $26,000.

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How Much Should I Budget to Sell My House? Here’s the Average Cost

HomeLight

Depending on other factors such as your location, your home’s condition, and current market conditions, that estimate can run up to 10%. We break down what the cost of a home sale could look like based on the average U.S. home sales price of $453,300, as reported by the Federal Reserve Bank of Saint Louis. Cost to seller.

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2023 Housing Market Year In Review: A Market Ruled by Mortgage Rates

Redfin

18 housing trends that defined the year, including record mortgage rates, depleted inventory, and dwindling home sales 2023 was a difficult year for the housing market. The spring homebuying season never happened , housing inventory remained historically low throughout the year, and sales plummeted. So what happened?

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A top agent’s take on 2023 housing trends

Real Trends

If the interest rates do drop and get closer to 5%, agents can expect a mini-boom in which the low rates will re-inspire housing demand significantly and boost overall sales. You can remind your clients that paying rent is still paying a mortgage —just someone else’s.

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Buyer’s Market vs Seller’s Market: What’s the Difference?

The Close

When supply exceeds demand, we see a buyer’s market. This phenomenon means there are fewer buyers than there are homes for sale. Competition is lower for a home, and the number of days on market increases for listings. A buyer’s market can be determined by calculating the months of inventory.