{"id":7491,"date":"2021-12-20T06:00:45","date_gmt":"2021-12-20T11:00:45","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=7491"},"modified":"2021-12-20T06:00:45","modified_gmt":"2021-12-20T11:00:45","slug":"homebuyers-be-ready-to-act-this-winter","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=7491","title":{"rendered":"Homebuyers: Be Ready To Act This Winter"},"content":{"rendered":"
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\"Homebuyers:<\/p>\n

To succeed as a buyer in today\u2019s market, it\u2019s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com<\/em>, says<\/a> there are two factors every buyer should keep their eyes on:<\/span><\/p>\n

\n

\u201cGoing forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply.<\/strong>\u201d<\/em><\/p>\n<\/blockquote>\n

Here\u2019s a look at each one.<\/p>\n

Mortgage Rates Projected To Rise in 2022<\/strong><\/h4>\n

As a buyer, your interest rate directly impacts how much you\u2019ll pay on your monthly mortgage when you purchase a home. Rates are beginning to rise<\/a>, and experts forecast<\/a> they\u2019ll continue going up in 2022 (see graph below)<\/em>:\"Homebuyers:<\/a>As the graph shows, mortgage rates are expected to climb next year. But they\u2019re still low<\/a> when you compare to where they were just a few years ago. That presents today\u2019s buyers with some motivation<\/a> to lock in a low mortgage rate before they climb higher.<\/p>\n

More Homes Are Expected To Be Available This Season<\/strong><\/h4>\n

The other market condition buyers need to monitor is the number of homes available for sale today. The latest Existing Home Sales Report<\/em><\/a> from the National Association of Realtors<\/em> (NAR) shows the current supply of inventory sits at just 2.4-months. To put that into perspective, a 6-month supply<\/a> is ideal for a balanced market where there are enough homes to meet buyer demand.<\/p>\n

However, there may be good news for buyers who are waiting for more options. A recent realtor.com<\/em> survey<\/a> shows more sellers are planning to list their homes<\/a> this winter, meaning more choices will likely be available soon.<\/p>\n

What Does That Mean for You?<\/strong><\/h4>\n

Even if your options improve some this season, it won\u2019t significantly shift market conditions overnight. According to NAR, many more listings need to be available to move closer to a more neutral market<\/a>:<\/p>\n

\n

\u201cGiven the average monthly demand . . . , 3.55 million homes should be on the market to meet a level of inventory equal to six months of demand, implying a shortage of homes for sale of 2.24 million.\u201d<\/strong><\/em><\/p>\n<\/blockquote>\n

So remember, even with more homes expected to come to market this season, competition<\/a> among buyers will remain fierce as there still won\u2019t be enough homes for sale to meet the current demand. That means you\u2019ll need to act quickly when you\u2019re ready to make an <\/strong>offer<\/strong><\/a>.<\/strong><\/p>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re planning on buying a home this winter, more options are welcome news, but it doesn\u2019t mean you should slow down. Let\u2019s connect today so you have an expert on your side to help act as quickly as possible when the right home for you hits the market.<\/p>\n

Content previously posted on Keeping Current Matters<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\"Homebuyers:To succeed as a buyer in today\u2019s market, it\u2019s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on: \u201cGoing forward, the conditions buyers face are primarily dependent on two things: mortgage [\u2026]<\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3,88,84,86,118,89],"tags":[],"class_list":["post-7491","post","type-post","status-publish","format-standard","hentry","category-blog","category-first-time-home-buyers","category-for-buyers","category-housing-market-updates","category-interest-rates","category-move-up-buyers"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/7491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7491"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/7491\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}