Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t enough homes on the market today. It uses data from the Census to show the number of single-family homes that were built in this country going all the way back to the 1970s. The blue
Housing Supply is still Low but Growing Read More »
What would happen if homebuyers were required to pay their real estate agents directly? That question may likely be on many people’s minds as several lawsuits aimed at the real estate commission structure persist. A recent study looked at the potential implications of indulging the proposed “decoupling” of agent compensation. It paints a bleak picture, asserting
Decoupling Agent Commission is a Bad Bet For Consumers Study Shows Read More »
Want to be smarter than the average mortgage borrower? Here are five common mortgage myths and the truth behind them. Read on, and you may gain an advantage when deciding what direction to take with your home financing. Myth 1: You need a 20% down payment to buy a home Historically, many homebuyers were required
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You probably notice the big announcement by Freddie Mac last week that interest rates saw their largest decline since December 2008. Maybe you even reached out to your trusted Lender for confirmation only to discover that rates hadn’t fallen all… Why does this happen? The answer is that the method used by Freddie Mac to
Why mortgage rates aren’t really LOWER Read More »
Owning a home offers advantages that can help anyone build wealth. Of course, without a crystal ball, it’s impossible to know exactly what your home purchase will do for you long term, but there are some consistent historical indicators of how homeownership relates to wealth. 1. Stable housing payments. Apartment and home rents tend to
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1.) Avoid closing problems 2.) Neighborhood knowledge 3.) The paperwork 4.) Pricing expertise 5.) Request for repairs
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It was too hot not to cool down. That’s just what’s starting to happen for the U.S. real estate market, which has seen some of its most active years ever in 2020 and 2021. But with rising interest rates, inflation and the stock market slipping, buyers are bowing out. Pending home sales have dropped for
Pending U.S. Home Sales Decline as Inventory Rises Read More »
This week the median list price for Ventura, CA is $970,125 with the market action index hovering around 81. This is less than last month’s market action index of 84. Inventory has held steady at or around 60. This week the median list price for Oxnard, CA is $859,500 with the market action index hovering
Housing: Ventura County Read More »
Information received since the Federal Open Market Committee met in January suggests that economic activity has continued to strengthen and that the labor market is stabilizing. Household spending is expanding at a moderate rate but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software
Pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator, rose 6.0 percent to 110.9 based on contracts signed in April, from an upwardly revised 104.6
Pending Home Sales Surge Continuing, Ventura Real Estate Read More »