Thursday, January 12, 2023 / by Barbara Oleska
Well, here we are in 2023! I hope your year has gotten off to a happy and healthy start!
Everybody is wondering where the real estate market is going for 2023. Below is the Housing Outlook For 2023, provided by Brian S Wesbury, Chief Economist Of First Trust Investments, along with Robert Stein, Deputy Chief Economist, that I thought you might find interesting. I am always here to answer any questions you might have whether it's about buying, selling, or investing in properties.
The Housing Outlook for 2023
The housing sector was a huge and early beneficiary of the super-loose monetary policy of 2020-21. But, once the Fed started tightening, housing took the lead downward, as well. This isn’t a repeat of the 2006-11 housing bust, but it will drag on. Don’t expect any real recovery in housing until at least late 2023 or early 2024. Home sales and prices will continue to drag in 2 ...
Thursday, December 15, 2022 / by Barbara Oleska
If you’re trying to decide whether or not to sell your house, recent headlines about home prices may be top of mind. And if those stories have you wondering what that means for your home’s value, here’s what you really need to know.
What’s Really Happening with Home Prices?
It’s possible you’ve seen news stories mentioning a drop in home values or home price depreciation, but it’s important to remember those headlines are designed to make a big impression in just a few words. But what headlines aren’t always great at is painting the full picture.
While home prices are down slightly month-over-month in some markets, it’s also true that home values are up nationally on a year-over-year basis. The graph below uses the latest data from S&P Case-Shiller to help tell the story of what’s actually happening in the housing market today:
As the graph shows, it’s true home. ...
Thursday, June 23, 2022 / by Barbara Oleska
I hope you are enjoying your summer! The article below shares national insight for the overall market. Locally, we are seeing a bit of an increase in inventory, which is a relief! Sales are a bit slower, but ANYTHING feels slower after the crazy. Properties are lingering on the market longer (except mine, of course, because I get it DONE!). You've probably heard about many listings reducing (adjusting) their prices. It's not because prices are falling; it's because sellers got ahead of themselves. Pricing ahead of the market is a mistake. You have to be IN the market.
When you hear "bubble", know that this is NOT 2008. Our fundamentals are VERY different coming into this period. Yes, appreciation will slow down, but I really don't think we'll see a downturn in the South Florida market. Too many people are moving here and unless we get a huge wave of inventory, it will still be the game of supply and demand.
A fair amount of the cash has dried up. I can speculate that's becaus ...