Home inventory growth slowed in March 2023 as fewer sellers put their homes up for sale than in March 2022. The March 2023 inventory increase was 9.3% compared to February’s 13.3% growth. However, experts expect the coming spring housing market to be busier than this past winter.

Highlights The number of homes for sale increased in March by 59.89% compared to March 2022. The total number of unsold homes, including those under contract, increased by 9.34% compared to last March. The median price of homes for sale increased by 6.26% annually in March, lower than February’s growth rate of 7.85%. In March,…

The number of homes sold peaked at almost 7 million in 2021 after steady growth in the previous ten years. Although sales will likely drop in 2023, many people still want to purchase their first home. Besides budgeting to buy the home, homebuyers must also set aside funds for home maintenance. Purchasing a property is…

The global demand for house painting services continues to grow. But what’s the reason for this notable trend? First, there is an increasing focus on property improvement. Plus, many owners are trying to make their homes more appealing. The fact that exterior painting makes a property stand out is also a huge contributor to the…

Around 16% of Americans have moved to a different state since 2019, which is about the same level experienced in the late 1980s, but twice the average percentage of the few years preceding 2018. However, several factors contribute to this trend, such as employment or job transfers to a new location. In addition, adventure and…

Highlights Home sellers were less active in February, with fewer homes listed for sale than in February 2022. In February, homes spent 67 days on the market, 23 days longer than last February but shorter than before the pandemic. The number of homes for sale increased by 67.79% compared to February 2022. The total number…

Home inventory growth in February accelerated from January’s rate due to homes spending more time on the market. In addition, the number of homes under contract (including pending listings) in February was smaller than January’s decline; this could mean that the housing market is starting to stabilize at a relatively low level of existing home…

Delayed financing allows homebuyers to purchase a property with cash, then obtain a cash-out refinance mortgage to recoup all, or most, of the money used for the purchase. This strategy lets the buyer make a cash offer on a property, which is more attractive to sellers, especially in a bidding war. Why Use Delayed Financing?…

Prices for goods and services in a market economy are subject to change. So as prices rise, your purchasing power decreases because of inflation. Inflation, however, isn’t necessarily harmful in cyclical free markets. Inflation can bring down entire economies when prices rise too quickly, and the market fails to adjust. In 2022, inflation emerged as…

Buying a home is a very competitive process, sometimes resulting in making offers and waiving the home inspection contingency. However, homebuyers can reserve the right to conduct an inspection to gather information while assuring the seller they will not hold them responsible for repairs. Therefore, most homebuyers should never forgo the home inspection, even when…