Most buyers, particularly first-timers, will probably borrow money to purchase a home or other real estate property. The process consists of working with a lender to qualify for a home loan at a specific interest rate for a set amount of time. The homeowner is then responsible for making regular monthly payments to repay the…

Highlights Real estate markets are getting an early start to the spring buying season with an unseasonably high home demand with fewer homes for sale. Nationally, the inventory of active listings declined by 24.5% over last year, while the total inventory of unsold homes declined by 15.3%. February’s national median listing price was $392,450, up…

Realtor®.com reports that real estate markets are seeing an early start to the spring buying season this year. There is an unseasonably high demand with fewer homes for sale. The imbalance led to typical homes selling faster and pushing list prices to a record high in February. Meanwhile, higher mortgage rates squeezed buyers’ budgets. Highlights The national…

Prospective homebuyers who begin their search without enlisting the knowledge and experience of a professional Realtor to represent them will miss out on a range of resources that can help them make an informed decision. Realtors add insight into the current market conditions, histories of recent transactions, and a real-time understanding of current conditions and…

Just about anyone who has ever sold a home with the help of a knowledgeable Realtor appreciates the role they played in counseling, guiding, advising, and managing the process. Realtor support is especially critical during complex transactions filled with multiple crises that demand a professional hand to navigate and hold the deal together. Roles of…

Unless homebuyers pay cash for the total price of a home, they are likely to borrow at least some of the money needed to make the purchase. Banks, mortgage companies, and other lenders offer a broad array of secured loans, known as mortgages, to help buyers realize their dream. A mortgage is a loan used…

Nationally, newly listed homes were down an average of 9.1% in January compared to January 2021. However, homes sale overall are continuing at a rapid pace, spending on average 61 days on the market. Low inventory levels are expected to continue for several months into 2022.

Highlights In January, the median home price was $375,000, the same as in December. January’s existing-home sales declined after increasing for three months. Year-over-year home price annual gains ranged from 17.5% to 18.3% as of November.

Nationally, the number of homes listed in January was 326,312, down an average of 9.1% compared to January 2021. However, homes continue to sell at a rapid pace. The typical home spent 61 days on the market in January, ten days less than in January 2021, and more quickly than any January going back to…