Lamacchia Realty

OCTOBER 17, 2024

Inventory of homes listed reached a record low by July of 2023 , and mortgage rates increased dramatically, diminishing buyer affordability. Many sellers are holding the line, and buyers continue to face competition. The result is buyers are still faced with some of the highest monthly mortgage payments in history.

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Bracketing Marketing Sellers Buyers 74

Lamacchia Realty

JUNE 21, 2022

Now, months later, with rates up nearly 100% from the start of the year- January mortgage rates were hovering in the low to mid 3’s and this week reached 6.28%- diminished buyer affordability is causing a big downshift in demand. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.

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Housing Market Bracketing Marketing Sellers 69

Lamacchia Realty

OCTOBER 25, 2023

Now, a year and a half later, with rates up to 8%, buyer affordability is significantly diminished. Coming from the frenzied pandemic market where inventory was at historically low levels , sellers are holding the line and buyers are still the ones competing in this market. In the graphic to the right, you can see this more clearly.

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Bracketing Marketing Sellers Buyers 74

Lamacchia Realty

AUGUST 3, 2021

Though there were several months through winter and spring that it never seemed possible this year, the market is slowly beginning to be less competitive for buyers. But if the home has been available long enough, it’s time to consider adjusting the list price to gain more visibility from more potential buyers.

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Lamacchia Realty

MARCH 26, 2024

Elevated condo association and special assessment fees present an additional financial burden for condo owners, deterring potential buyers unless the purchase price is reduced sufficiently to offset the higher ongoing monthly costs. Source Inventory rises when more sellers are listing than buyers are buying.

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Bracketing HOA Sellers Buyers 73

Houston Properties

JANUARY 13, 2021

This highlights the importance of Avoiding the 9 Most Common Mistakes Buyers Make. Buyers Beware? Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007. Remember: real estate is hyper-local! Household Finances – The Best (Ever).

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Housing Market Marketing Real Estate Realtors 68