{"id":1572,"date":"2021-03-25T13:41:52","date_gmt":"2021-03-25T13:41:52","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1572"},"modified":"2021-03-25T13:41:52","modified_gmt":"2021-03-25T13:41:52","slug":"buyer-seller-perks-todays-housing-market","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/buyer-seller-perks-todays-housing-market\/","title":{"rendered":"Buyer & Seller Perks in Today\u2019s Housing Market"},"content":{"rendered":"
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Buyer & Seller Perks in Today\u2019s Housing Market<\/p><\/div>\n

Right now, the housing market is full of outstanding opportunities for both buyers\u00a0and<\/em>\u00a0sellers. Whether you\u2019re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season.<\/p>\n

The Biggest Perk for Buyers: Low Mortgage Rates<\/strong><\/h4>\n

\u00a0<\/strong>Today\u2019s most compelling buyer incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over\u00a03%<\/a>. While that\u2019s slightly higher than the record-lows from 2020 and earlier this year, it\u2019s still way lower than historic norms, making purchasing a home an ongoing perk for hopeful buyers\u00a0(See graph below)<\/em>:<\/p>\n

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Mortgage Rates Since 1971<\/p><\/div>\n

This is a huge advantage for buyers and helps to make owning a home attainable for more households \u2013 and there\u2019s good reason to strive for homeownership. The latest Homeowner Equity Report<\/em>\u00a0from\u00a0CoreLogic<\/em>\u00a0shows how homeowners saw major\u00a0gains<\/a>\u00a0in their net worth last year, all thanks to owning a home. Frank Martell,\u00a0President and CEO\u00a0<\/em>of\u00a0CoreLogic<\/em>,\u00a0explains<\/a>:<\/p>\n

\u201cPositive factors like record-low interest rates and a booming housing market encouraged many families to enter homeownership.\u00a0<\/strong>This growing bank of personal wealth that homeownership affords was noticed by many but in particular for first-time buyers who want a piece of the cake. As a result, we may see more of those currently renting start to enter the market in the near future.\u201d<\/em><\/p><\/blockquote>\n

Low mortgage rates are a plus for buyers right now, but experts\u00a0forecast<\/a>\u00a0we\u2019ll see them continue to rise as the year goes on. If you\u2019re ready to purchase a home, it\u2019s wise to get started on the process soon so you can secure today\u2019s comparatively low rate.<\/p>\n

The Biggest Perk for Sellers: Low Inventory<\/strong><\/h4>\n

Today, there are simply not enough\u00a0houses\u00a0on the market for the number of buyers looking to purchase them, and it\u2019s creating a serious\u00a0sellers\u2019 market<\/a>. According to Danielle Hale,\u00a0Chief Economist<\/em>\u00a0at\u00a0realtor.com<\/em>:<\/p>\n

\u201cTotal active inventory continues to decline, dropping 50 percent.\u00a0With buyers active in the market and sellers still slow to put homes up for sale, homes are selling quickly<\/strong>\u00a0and the total number actively available for sale at any point in time continues to decline.\u201d (See map below):<\/em><\/p><\/blockquote>\n

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Change in Housing Inventory: February 2020 to February 2021<\/p><\/div>\n

The lack of houses for sale continues to challenge the market, and with low mortgage rates fueling buyer demand, homes are hard for buyers to find today. According to the latest\u00a0Realtors Confidence Index Survey<\/em><\/a>\u00a0by the\u00a0National Association of Realtors<\/em>\u00a0(NAR), the average house is now receiving\u00a04.1 offers<\/strong>\u00a0and is on the market for only\u00a020 days<\/strong>.<\/p>\n

Buyers are clearly eager to purchase, and because of the shortage of inventory available, they\u2019re often entering bidding wars.\u00a0<\/em>This is one of the factors keeping home prices strong and giving sellers\u00a0leverage<\/a>\u00a0in the negotiation process.<\/p>\n

Homeowners who are in a position to sell shouldn\u2019t wait to make their move. There\u2019s a\u00a0light<\/a>\u00a0at the end of the tunnel for today\u2019s inventory shortage, so listing this spring will get your house on the market when conditions are most favorable. With low inventory and high buyer demand, homeowners can potentially earn a greater\u00a0profit<\/a>\u00a0on their houses and sell them quickly in the fast-paced spring market.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Whether you\u2019re thinking about buying or selling a home, there are major perks available in today\u2019s housing market. Let\u2019s connect today to discuss how these favorable conditions play to your advantage in our local area.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Whether you\u2019re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Finish Reading Buyer & Seller Perks in Today\u2019s Housing Market<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[38,227,10,18,91,52,208,32,9,49,42,23,40,116,252,280,63,20,12,48,297,13,54,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1572"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1572"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1572\/revisions"}],"predecessor-version":[{"id":1576,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1572\/revisions\/1576"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}