If you are thinking of buying a home in Vero Beach this winter season, this special edition of the Winter 2024 Buyers Guide, includes tips and answers to your questions such as What’s Going On in the Housing Market Right Now, The Return of Normal Seasonality for Home Price Appreciation, What Experts Project for Home Prices over the Next 5 Years, Advice for Making Your Strongest Offer on a Home, and much more. Take a look at what is inside in the Home Buyers Guide Winter of 2024 and get it for FREE today!
What is inside the Home Buyers Guide Winter 2024
WHAT’S GOING ON IN THE HOUSING MARKET RIGHT NOW?
You might be wondering how the latest housing market updates will impact your winter home-buying plans. Here are the top three questions that might be on your mind.:
- What’s Happening with Home Prices?
- What’s the Deal with Mortgage Rates?
- What Does Low Housing Inventory Mean for My Move?
If you’re keeping up with the news, you might be a bit confused about what’s happening with home prices. Well, know this: despite what you may have heard, they’re not going down. In fact, it’s just the opposite. National data from several sources says home prices have been going up consistently since early 2023.
But it’s important to know prices differ depending on where you live. Overall, the limited supply of homes for sale and ongoing buyer demand are going to keep upward pressure on prices.
Since October of 2022, rates have been between 6% and 8%. The rates we experienced a few years ago, like 3%, are now a thing of the past.
The best advice for your move is this: don’t try to control what you can’t control. This includes trying to time the market or guess what the future holds for mortgage rates.
Housing inventory is measured by the number of available homes on the market. It’s also measured by months’ supply, meaning the number of months it would take to sell all those available homes based on current demand.
Get the latest Vero Beach Market Reports to get informed about the local real estate market and give you an edge when looking for a home in Vero Beach.
THE RETURN OF NORMAL SEASONALITY FOR HOME PRICE APPRECIATION
Despite what you may have heard in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend.
That’s why there’s a reliable long-term home price trend. The graph below uses data from Case-Shiller to show typical monthly home price movement from 1973 through 2022 (not adjusted, so you can see the seasonality):
WHAT EXPERTS PROJECT FOR HOME PRICES OVER THE NEXT 5 YEARS?
Experts Project Ongoing Appreciation. Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts saying home prices will go up every year through 2027 (see graph below): p>
ADVICE FOR MAKING YOUR STRONGEST OFFER ON A HOME
The housing market is competitive in many places right now because there aren’t many homes for sale. If you’re planning to buy a home this winter, here are some tips to help you make a strong offer.
- Lean on a Real Estate Professional
- Get Pre-Approved for a Home Loan
- Make a Fair Offer
- Trust Your Agent’s Expertise Throughout Negotiations
When you go to buy a home this winter, let’s talk so you can have an expert on your team to help you make your top offer.
Get this Winter 2024 Buyers Guide and find out how to get the best deal on a Vero Beach home. You will also find a lot more information in this NEW full version of the Home Buyers Guide for Winter 2024 by requesting one using the form below. It is FREE.
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