Mortgage applications are up and forbearances are down as we are in mid month April 2023 as per Mortgage Bankers Association (MBA). Reports show nationally 65,000 new homes sales are up 6.6% from March 2023 as for 61,000 sold in February 2023. They type of loans reported by FHA were 22.6%, VA loans 10.7% and USDA .3% and national prices rose from 406,953 February 2023 to 407,015 in March 2023. The mortgage application submitted depends on how the mortgage rates topple down and spike upward. Many still fear recession to be announced and is on the horizon sometime in 2023. Click link to learn more about will there be a recession /WILL-THERE-BE-A-RECESSION---32819---32836---Dr-Phillips-6-23568.html
To learn more about recessions in the past click link /PAST-RECESSIONS-AND-HOUSING-MARKET---32819---32836---Dr-Phillips-6-24053.html
New construction homes make up a vital part of the and component of the housing market. mortgage applications for new construction increased in March of 2023 still with close to a 30 day supply of housing inventory. Builders and lenders are wheeling and dealing to sell homes and stay within context of making money and lending within legal guidelines. In theory new construction is the ultimate way to go. Click link to learn more about new construction home incentives /NEW-CONSTRUCTION-HOME-INCENTIVES---32819---32836---Dr-Phillips-6-23088.html
See your trusted advisor for more guidance on new construction homes.
As a trusted advisor, professional realtor and retired military veteran, I am here to serve you and always on the pulse of the housing market in the Disney, Dr Phillips and Central Florida area. Always stay in tuned, educated and connected 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 that education is a must for the community to ensure you are making the right decision. So do let this shifting housing market delay your dreams, data shows home values typically appreciate over time and that gives your net worth a nice boost. If you are ready to start your journey, contact me today at 850 496-6412 to help begin a new walk to home ownership and all of your real estate needs.