In a competitive seller’s market, coming to the table with a cash offer — rather than traditional financing — can give you an advantage over other potential buyers. Home sales declined significantly in 2023 due to a combination of high mortgage rates, low inventory, and rising prices, but the demand for all-cash offers has persisted.…
According to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending December 1, 2023, U.S. mortgage applications increased 2.8 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, increased 2.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the…
Redfin makes multiple U.S. housing market predictions for 2024 National property broker Redfin says there are new signs pointing to a shift toward a buyer’s market in 2024, as pandemic-driven inflation takes its last gasps, mortgage rates come down and more people list their homes for sale. That’s according to annual end-of-year predictions from Redfin’s…
Climate change ranked second biggest luxury housing market risk in 2024 Based on new data by Kate Everett-Allen, head of international residential research at Knight Frank, despite 2 regional wars, rising mortgage rates and inflation, global economies have displayed surprising resilience, with recent inflation figures suggesting a turning point. While two major geopolitical crises unfold,…
Las Vegas home prices rising while inventory shrinks Based on new data from Las Vegas Realtors, housing supply continued to shrink in November 2023, while fewer homes are selling and prices are higher than the same time last year. LVR reported that the median price of existing single-family homes sold in Southern Nevada through its…
Elevated mortgage rates keep buyers and sellers on the sidelines Based on new data from the California Association of Realtors, California home sales were essentially flat in October 2023, as the cost of borrowing remained elevated and housing inventory continued to be tight. Closed escrow sales of existing, single-family detached homes in California totaled a…
In today’s real estate market, with high mortgage interest rates and hesitant buyers, you might be pondering, “Is my mortgage assumable?” as a strategy to accelerate your home sale. Or, you might want to allow a family member to assume your mortgage so they can inherit a financial advantage through your low-interest-rate home loan. If…
If you recently bought a house and now realize that you need to sell it, don’t panic. While there are financial implications of selling a house soon after buying it, certain circumstances and life changes may make selling quickly a necessity and leave you wondering, “How soon can I sell my home after purchasing it?”…
Dealing with the real estate market in Los Angeles can feel impossible, especially when selling your current home while purchasing a new one. It’s an incredibly common scenario, and you might think your only option is to sell your home, temporarily relocate, and then wade through L.A.’s cutthroat real estate market to find your dream…
According to AAA, two months following the devastating wildfires in Maui, most of West Maui will begin to reopen to visitors on Sunday, October 8, 2023. The tragic wildfires killed 97 people and destroyed much of the historic town of Lahaina. The loss of life, property, cultural and historic sights, and livelihoods has led to…
According to the Mortgage Bankers Association’s latest Weekly Mortgage Applications Survey for the week ending September 29, 2023, U.S. mortgage applications decreased 6.0 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis,…
According to a new Redfin-commissioned survey, nearly two-thirds of recent U.S. homebuyers (59%) think purchasing a house is more stressful than dating. Daryl Fairweather “Getting ghosted by your date is stressful, but purchasing a home in today’s market comes with its own unique set of anxieties,” said Redfin Chief Economist Daryl Fairweather. “Buyers are increasingly…