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November
1

The Difference An Hour Makes

 

Every Hour in Homebuying - infographicAs we adjust our clocks for Dayloght Savings Time this weekend and "Fall Back," let's look at what happens every hour in the Housing Market!

Every hour in the United States:
- 614 homes sell
- 95 homes regain positive equity
- Median home values go up $1.38

July
2

3 Things To Know In The Housing Market Today!

Daily News On Ipad with Coffee and NotepadA lot is happening in the world, and it's having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don't know yet.

The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.

1. Interest Rates

One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. We recently posed the question, "Are Low Interest Rates Here To Stay?" The latest information from Freddie Mac makes it appear they are. We are currently at a 21-month low in interest rates.

30 year fixed rate Mortgage rate

2. Building Materials

Talk of tariffs could also affect the housing market. The National Association of Home Builders reports that as much as $10 billion in goods imported from China are used in homebuilding. Depending on the outcome of the tariff and trade discussions between several countries, there could be as much as a 25% boost in the cost of building materials.

3. Economic Slowdown

At the beginning of the year, many economic leaders thought we could expect a recession in late 2019 or early 2020. As spring approached, we reported that economists had started to push that projection past 2020.  Now, three leading surveys indicate that it may begin in the next eighteen months.

Next Recession Beginning Chart

Bottom Line

We are in a strong housing market. Wages are increasing, home prices are appreciating, and mortgage rates are the lowest they have been in 21 months.  Whether you are thinking of buying or selling, it's a great time to be in the market.

SOURCE: Keeping Current Matters - Steve Harney

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 08/20/2022. The listing information on this page last changed on 08/20/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of CVRMLS (last updated Sat 08/20/2022 1:07:52 AM EST) or Bright MLS (last updated Sat 08/20/2022 12:54:02 AM EST). Real estate listings held by brokerage firms other than Joyner Fine Properties may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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Agency License Information: Joyner Fine Properties and its agents are licensed in the Commonwealth of Virginia.


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