V Realty Group

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🧐 Let the Numbers Tell the Story about Your Neighborhood🧐
For Specific Data such as New Listings per Week/Month, Average Days on Market & Listing Price & Sold Price & Price per Sq. Ft. and Total Active & Pending & Closed & Expired Listings
Kindly Contact Me Directly ⬇️🧐⬇️
https://calendly.com/vrealtygroup/virtual-coffee-chat

🤔 People Want Less Expensive Homes – And Builders Are Responding 🤔
In today’s housing market, there are two main affordability challenges impacting buyers - mortgage rates and rising home prices caused by low inventory 🤔
🤔 As newly built homes making up a historically large percentage of the total available inventory today, builders have picked up on this trend and are reacting accordingly by producing smaller, less expensive homes 🤔 See graph below with new data that further confirms this pattern as the median sales price of newly built homes has dipped down in recent months 🤔

🤔 Home Prices Are Back On The Rise 🤔

🤔 The Value of an Agent When Buying Your New Construction Home 🤔
🤔 Buying a new construction home can be an exciting experience. From being the very first owner, to customizing your home’s features, there are a lot of benefits. But navigating the complexities of buying a home that’s under construction can also be a bit overwhelming. See below where a skilled real estate agent can make all the difference 🤔
🤔 Agents Know the Local Area and Market
🤔 Knowledge of Construction Quality and Builder Reputation
🤔 Understanding Builder Contracts and Negotiations
🤔 Assistance with Customization and Upgrades

🤔 Housing Market Forecast for the Rest of 2023 🤔

🤔 How To Know If You’re Ready to Buy a Home 🤔
🤔If you’re trying to decide if you’re ready to buy a home, see below a few questions that can give you clarity on whether you’re ready to make your move
🤔 Do You Have a Stable Job?
🤔 How Long Do You Plan to Live There?
🤔 Have You Figured Out What You Can Afford?

🤔 Explaining Today’s Mortgage Rates 🤔
🤔 If you’re following mortgage rates - as they impact your borrowing costs - you may be wondering what the future holds for rates. Unfortunately, there’s no easy way to forecast the future 🤔 But, there’s one historically a good indicator of what’ll happen with rates - the relationship between the 30-Year Mortgage Rate and the 10-Year Treasury Yield 🤔 See below a graph showing those two metrics since Freddie Mac started keeping mortgage rate records in 1972 🤔 As the graph shows the average spread between the two was 1.72 percentage points If you look at the trend line you can see when the Treasury Yield trends up, mortgage rates will usually respond 🤔

🤔 Real Estate Continues To Be Best Investment 🤔

🤔 Low Housing Inventory Is a Sweet Spot For Sellers 🤔

🤔 Momentum Is Building for New Home Construction 🤔
If you’re in the process of looking for a home today, you know the supply of homes for sale is low because you’re feeling the impact of having a limited pool of options 🤔 So while inventory is so low, it may be time to consider looking into new-home construction 🤔 The graph below uses data from the Census to show the trend of new-home completions over time, demonstrating just how much new home construction is ramping up nationwide 🤔 If you can wait a bit and the idea of customizing a home from the ground up appeals to you, and when none of the homes you’ve looked at so far are to your liking, being able to tailor one to your taste may be your best option.

🤔 The Benefits Of Downsizing For Homeowners 🤔

🤔 Today’s Housing Inventory Is a Sweet Spot for Sellers 🤔
One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them 🤔 To help emphasize just how limited housing inventory still is, let’s take a look below at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels 🤔 It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market 🤔

🤔 Key Reasons To Use a Real Estate Agent When You Sell 🤔

🤔 Why Homeownership Wins in the Long Run 🤔
If you’re questioning if it still makes sense to buy a home today, remember the incredible long-term benefits of homeownership 🤔 Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision 🤔 Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth 🤔 The map below uses data from the Federal Housing Finance Agency (FHFA) to show just how noteworthy price gains have been over the last five years 🤔

🤔 The Impact of Changing Morgage Rates 🤔