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Three Reasons to Buy a Home in Today's Shifting Market

Important Highlights

• The housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about buying a home.
• Housing Inventory is increasing, which means more options for your search. Plus, the intensity of bidding wars may ease as buyer demand moderates, leading to fewer homes selling above asking price.
• Connect with The Aaronson Group today. Contact by phone 949-388-5194 or email: info@previewochomes.com

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3 Graphs To Show This Isn't a Housing Bubble

With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is, there’s concrete data to show why this is nothing like the last time. 

There’s a shortage of homes on the market today, not a surplus 

The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will cause prices to depreciate. Anything less than that is a shortage and will lead to continued price appreciation. 

For historical context, there…

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What's Causing Ongoing Home Price Appreciation?

If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand. 

While growing, housing supply is still low 

Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t enough homes on the market today. It uses data from the census to show the number of single-family homes that were built in this country going all the way…

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Should You Buy a Home with Inflation This High?

While the federal reserve is working hard to bring down inflation, the latest data shows the inflation rate is still going up. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now? 

Greg McBride, chief financial analyst at Bankrate, explains how inflation is affecting the housing market: 

“Inflation will have a strong influence on where mortgage rates go in the months ahead. . . Whenever inflation finally starts to ease, so will mortgage rates — but even then, home prices are still subject to demand and very tight supply. 

No one knows how long it’ll take to bring down inflation, and that means the future…

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Housing Experts Say This Isn't a Bubble

With so much talk about an economic slowdown, some people are asking if the housing market is heading for a crash like the one in 2008. To really understand what’s happening with real estate today, it’s important to lean on the experts for reliable information. 

Here’s why economists and industry experts say the housing market is not a bubble ready to pop. 

Today is nothing like 2008 

The 2008 housing crash is still fresh in the minds of many homebuyers and sellers. But today’s market is different. Odeta Kushi, deputy chief economist at First American,says: 

“This is not the same market as 2008. . .. It’s no secret the housing market played a central role in the great recession, but this market is just…

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SOLD! Charming Single Level Cottage Style Home in Irvine

Charming single level cottage style home in the wonderful Irvine neighborhood of Smoketree. Unique, very private corner location with only one wall attached. This home offers a great opportunity to bring your style and character when creating your own space. A spacious open floorplan floating to the kitchen that opens once again into an entertainer's patio/backyard with beautiful foliage. Association club house available for private parties. Two car detached garage with plenty of storage. Minutes to Irvine Valley College and The Irvine Spectrum which offers wonderful restaurants, entertainment and great shopping opportunities. Walking distance to some of the best schools in Irvine, as well as Irvine Valley College.

Full details can be found by…

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Expert Housing Market Forecasts for the Second Half of the Year

The housing market is at a turning point, and if you’re thinking of buying or selling a home, that may leave you wondering: is it still a good time to buy a home? Should I make a move this year? To help answer those questions, let’s turn to the experts for projections on what the second half of the year holds for residential real estate. 

Where mortgage rates will go depends on inflation 

While one of the big questions on all buyers’ minds is where will mortgage rates go in the months ahead, no one has a crystal ball to know exactly what’ll happen in the future. What housing market experts know for sure is that the record-low mortgage rates during the pandemic were an outlier, not the norm. 

This year, rates have…

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How Your Equity Can Grow Over Time

It’s true that record levels of home price appreciation have spurred significant equity gains for homeowners over the past few years. As Diana Olick, real estate correspondent at CNBC, says: 

“The stunning jump in home values over the course of the covid-19 pandemic has given U.S. Homeowners record amounts of housing wealth.” 

That’s great for your home’s value over the last couple of years, but what if you’ve lived in your home for longer than that? You may be wondering how much equity you truly have. 

The national association of realtors (NAR) has done a study to calculate the typical equity gains over longer spans of time. The data they compiled could be enough to motivate you to move. Just remember, to…

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A Key Opportunity for Homebuyers

There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. 

As you may have already heard, the number of homes for sale has increased this year, and even more so this spring. As Danielle Hale, chief economist for realtor.com, explains: 

“New listings–a measure of sellers putting homes up for sale–were up 6% above one year ago.…

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Here's Why This Housing Downturn is Nothing Like the Last One

As quickly as mortgage rates are rising, the once red-hot housing market is cooling off. Home prices are still historically high, but there is concern now that they will ease up as well. 

All of this has people asking: Is today’s housing market in the same predicament that it was over a decade ago, when the 2007-08 crash caused the Great Recession? 

The short answer is: no. America’s housing market is in far better health today. That’s thanks, in part, to new lending regulations that resulted from that meltdown. Those rules put today’s borrowers on far firmer footing. 

For the 53.5 million first lien home mortgages in America today, the average borrower FICO credit score is a record high 751. It was 699 in…

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