How Far Will Buyers Go To Achieve Their Homeownership Dreams?

Buying or selling a home is not always easy. The real estate market changes all the time, depending on many things that affect both buyers and sellers. Right now, there are four major trends that you should know about if you are thinking of buying or selling a home.

1. Inventory Shortages: One of the foremost trends highlighted is the consistent inventory shortage in the housing market. Despite the initial concerns at the onset of the pandemic, the market has rebounded quite impressively. The concept of supply and demand is clearly at play here. With fewer homes on the market than there are buyers, home values have been artificially propped up. This trend, which has persisted over the last year, emphasizes the importance of homeowners understanding the dynamics of their local market.

2. New Construction: The new construction segment of the market appears to be thriving. Despite challenges in costs and other facets of the construction industry, builders seem to be finding innovative ways to incentivize buyers. This, in conjunction with the overall inventory shortage, is helping to guide property values.

3. Mortgage Rates: The emphasis on understanding the real determinants of mortgage rates, rather than relying on common misconceptions, is crucial for potential homeowners. As rates fluctuate based on factors like bond rates and 10-year treasuries, it's vital for buyers to be educated on these dynamics to make informed decisions.

4. Commercial Real Estate Concerns: The looming challenges in the commercial real estate industry present both challenges and opportunities. As the industry faces potential refinancing issues, opportunities may arise for those positioned to take advantage.

Know the Top 5 Things You Need To Ask For When Getting Mortgage Rates

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