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Housing Market Updates | Blog

Tuesday, June 14, 2022   /   by Laura Miller Edwards Realty Group

Is the Housing Market Correcting?

If you're following the news, all of the headlines about conditions in the current housing market may leave you with more questions than answers. Is the boom over? Is the market crashing or correcting? Here’s what you need to know.
The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way. Record-low mortgage rates and millennials reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren’t enough homes available to purchase thanks to many years of underbuilding and sellers who held off on listing their homes due to the health crisis.
This combination led to record-high demand and record-low supply, and that wasn’t going to be sustainable for the long term. The latest data shows early signs of a shift back to the market pace seen in the years leading up to the pandemic –&nbs ...

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  for buyers, for sellers, housing market updates, real estate market

Tuesday, May 31, 2022   /   by Laura Miller Edwards Realty Group

What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market

While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis.
When the forbearance program began, many experts were concerned it would result in a wave of foreclosures coming to the market, as there was after the housing crash in 2008. Here’s a look at why the number of foreclosures we’re seeing today is nothing like the last time.
1. There Are Fewer Homeowners in Trouble
Today’s data shows that most homeowners are exiting their forbearance plan either fully caught up on payments or with a plan from the bank that restructured their loan in a way that allowed them to start making payments again. The graph below depicts those findings from the Mortgage Bankers Association (MBA):
The same MBA ...

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  housing market updates, real estate market

Tuesday, May 3, 2022   /   by Laura Miller Edwards Realty Group

Is It Enough To Offer Asking Price in Today’s Housing Market?

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price.
In today’s real estate market, buyers shouldn’t shop for a home with the same expectations.
Things Are Different Today
Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), the average home that’s sold today:
Receives 4.8 offers
Sells in just 17 days
Homes selling quickly and receiving multiple offers shows how competitive the housing market is for buyers right now. This is because there are more buyers on the mark ...

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  for buyers, housing market updates, home buying, first time home buyers

Tuesday, April 19, 2022   /   by Laura Miller Edwards Realty Group

Using Your Tax Refund To Achieve Your Homeownership Goals This Year

If you’re buying or selling a home this year, you’re likely saving up for a variety of expenses. For buyers, that might include things like your down payment and closing costs. And for sellers, you’re probably working on a bit of spring cleaning and maintenance to spruce up your house before you list it.
Either way, any money you get back from your taxes can help you achieve your goals. Using a tax refund is a common tactic for buyers and sellers. SmartAsset estimates the average American will receive a $2,897 tax refund this year. The map below provides a more detailed estimate by state:
If you’re getting a refund this year, here are a few tips to help with your home purchase or sale this season.
How Buyers Can Use Their Tax Refund
According to American Financing, there are multiple ways your refund check can help you as a homebuyer. A few include:
Growing your down payment fund – If you haven’t st ...

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  for buyers, for sellers, housing market updates, first time home buyers

Tuesday, April 12, 2022   /   by Laura Miller Edwards Realty Group

It’s Still a Sellers’ Market [INFOGRAPHIC]

Some Highlights

Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen.

Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. There’s a reason why 72% of people believe it’s a good time to sell.

Don’t miss out on this unique opportunity. Let’s connect so you can take advantage of this hot sellers’ market.


This blog post previously appeared on https://www.simplifyingthemarket.com/en/2022/04/01/its-still-a-sellers-market-infographic/?a=106260-312309902871c1f0d820820f58bf8fde. The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. and the Laura Miller Edwards Realty Group do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be cons ...

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  for sellers, housing market updates, infographics, housing inventory