Tag: Housing Market Updates

5 Reasons Today’s Housing Market Is Anything but Normal

Written by 30a Beach Mortgage Syndicated User on September 2, 2021. Posted in 30a Beach Mortgages, Mortgage 30a Beach.

There are many headlines out there that claim we’re reverting to a more normal real estate market. That would indicate the housing market is returning to the pre-pandemic numbers we saw from 2015-2019. But that’s not happening. The market is still extremely vibrant as demand is still strong even while housing supply is slowly returning. Here’s the definition of normal from the Merriam-Webster Dictionary: “conforming to a type, standard, or regular pattern: characterized by that which is considered usual, typical, or routine.” Using this definition, here are five housing industry metrics...

What Buyers and Sellers Need To Know About the Appraisal Gap

Written by 30a Beach Mortgage Syndicated User on August 31, 2021. Posted in 30a Beach Mortgages, Mortgage 30a Beach.

It’s economy 101 – when supply is low and demand is high, prices naturally rise. That’s what’s happening in today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals. In recent months, it’s become increasingly common for an appraisal to come in below the contract price on the house. Shawn Telford, Chief Appraiser for CoreLogic, explains it like this: “Recently, we observed buyers paying prices above listing price and higher than the market data available to appraisers can support. This difference is...

Why 2021 Is Still the Year To Sell Your House

Written by 30a Beach Mortgage Syndicated User on August 25, 2021. Posted in 30a Beach Mortgages, Mortgage 30a Beach.

If you’re trying to decide whether or not to sell your house, this is the time to think seriously about making a move. Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) reveals the number of respondents who say it’s a good time to sell is higher now than it was over the past few summers (see graph below). Today, the majority of consumers, 75 percent, say it’s a good time to sell a house. Why is sellers sentiment up year-over-year? The higher good time to sell sentiment has to do with today’s market conditions, specifically low housing supply and high buyer demand. In the simplest...