Home buying activity tells us a lot about the housing market. Even though the housing market has cooled down after June 2022 the demand is still there and remains strong in many areas of the country due to housing shortages. Builders are trying to keep up the best they can with limited inventory and affordability. December 2022 to January 2023 was the largest jump 62% on record from Showing-time. It's typical to see a seasonal increase in traffic prior the spring housing market. Of course mortgage rate activity this spring will tell what direction even more on the direction home buying will swing. However January 2023 pace showed a good sign that high demand is still there even as rent continue to rise and facing the unknown for renters. Click link to know more about buying a house /BUYING-A-HOUSE-IN-2023---32819---32836---Dr-Phillips-6-23968.html
Wants and needs become a huge obstacle like always and reality is that you can go as far as your dollar can take you. There are must-haves and nice-to-haves. So it turns out to be a give and take. There are definitely more homes on the housing market than this time last year. Prioritizing what you need in a home is a crucial step in the home buying process.
It's important to monitor mortgage rates that has hovered well over 6% in January 2023 which played a huge role as buyers scrambling to purchases a home before another several increases to show buyer demand because mortgage rates were still favorable. As a professional realtor I always have several lenders I work very close with to help you through the home buying process on the lending side. As of April 2023 turbulence in the financial markets is putting significant downward pressure on rates, which should benefit borrowers in the short term. However the current rate drop in April 2023 was enough to make home buying a bit affordable for some homebuyers. Each downward tick in mortgage rates is met with increased buyer demand, as many eager home shoppers take advantage of the slightly lower cost of financing a home. Click link to understand more about mortgage lenders /MORTGAGE-LENDERS---32819---32836---Orlando-Florida-6-20247.html
As a trusted advisor, professional realtor and military veteran I am here to serve you and always on the pulse of the housing market for the Dr Phillips and Central Florida area. Always stay in tuned, educated in this volatile housing market to purchase or for the sale of your home. In the absence of trustworthy up to date information, real estate decisions are increasingly being driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community and always preaching the truth of real estate. I emphasize the education is a must for the community to ensure you are making the right decision. So don't let this shifting housing market delay your dreams, data reveals home values typically appreciate over time and that gives your net worth a nice boost. When you are getting help with a home, look for your realtor with a heart of a teacher. If you are ready to start your home journey, contact me at 850 496-6412 to begin a new walk and all of your homeownership needs.