{"id":2812,"date":"2022-07-09T14:22:47","date_gmt":"2022-07-09T14:22:47","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2812"},"modified":"2022-07-09T14:22:47","modified_gmt":"2022-07-09T14:22:47","slug":"key-opportunity-homebuyers","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/key-opportunity-homebuyers\/","title":{"rendered":"A Key Opportunity for Homebuyers"},"content":{"rendered":"
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A Key Opportunity for Homebuyers<\/p><\/div>\n

There\u2019s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point.<\/p>\n

As you may have already heard, the number of homes<\/a> for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist for realtor.com<\/em>, explains<\/a>:<\/p>\n

\u201cNew listings\u2013a measure of sellers putting homes up for sale\u2013were up 6% above one year ago. <\/strong>Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That\u2019s prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options.\u201d<\/em><\/p><\/blockquote>\n

This is encouraging news. More homes<\/a> coming onto the market give you a greater chance of finding one that checks all your boxes.<\/p>\n

Buyer Competition Moderating Helps Inventory Grow Even More<\/strong><\/h4>\n

Mark Fleming, Chief Economist at First American<\/em>, says<\/a> inventory growth is happening not just because there\u2019s an increase in the number of listings coming onto the market, but also because buyer demand has moderated some in light of higher mortgage rates and other economic factors:<\/p>\n

\u201cThere has been a pickup in the inventory that we\u2019ve seen recently, but it\u2019s not from a big increase in new listings . . . but rather a slowdown in the pace of sales.<\/strong> And remember that months\u2019 supply measures the inventory of sale relative to the pace of sales. Same inventory, fewer sales, means more months\u2019 supply<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

Basically, the market is shifting away from the frenzy of buyer competition seen during the pandemic, and that\u2019s helping available inventory grow. In their latest forecast<\/a>, realtor.com <\/em>also mentions the moderation of demand as a key factor and projects the inventory growth should continue:<\/p>\n

\u201cAs rising inflation and mortgage rates bring U.S. housing demand back from the 2021 frenzy, . . . inventory will grow double-digits over 2021 and offer buyers a better-than-expected chance to find a home<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

How This Impacts You<\/strong><\/h4>\n

The combination of more homes coming onto the market and a slower pace of home sales means you\u2019ll have more options to choose from as you search for your next home. That\u2019s great news if you\u2019ve been searching for a while with little to no luck. Just remember, there isn\u2019t a sudden surplus of inventory, just more homes to choose from than even a few months ago. So, you\u2019ll still want to be decisive and move fast when you find the right home for you.<\/p>\n

And when you do, you may be faced with less competition from other buyers too. If you\u2019ve been waiting to jump into the market because the intensity of the bidding wars was intimidating or if you\u2019ve been outbid on several homes, this moderation could help make the homebuying process a bit smoother. It\u2019s not that it\u2019ll be easy or that bidding wars are a thing of the past \u2013 that\u2019s not the case. But it won\u2019t feel nearly as impossible.<\/p>\n

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

As the housing market begins its shift back toward pre-pandemic levels, you could have a unique opportunity in front of you. With moderating levels of buyer competition and more homes actively for sale, your home search may have gotten a bit less challenging. Let\u2019s connect to begin the process today.<\/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 contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.<\/em><\/h5>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. Finish Reading A Key Opportunity for Homebuyers<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[363,523,456,196,38,131,15,18,27,91,366,245,86,52,49,84,42,23,63,20,48,28,47,19,6,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2812"}],"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=2812"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2812\/revisions"}],"predecessor-version":[{"id":2814,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2812\/revisions\/2814"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=2812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=2812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=2812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}