Some Highlights

• If you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.
• Housing inventory is still very low, prices are climbing back up, and homes are selling fast when priced right.
• If you want more information about our local area and what the trends mean for your plans to buy or sell, let’s connect.

 

Contact us now to schedule a free consultation for whatever real estate need you may have.  We can help!

  🌴 EXIT Realty Gulf Shores--Hom...

If you’re following mortgage rates because you know they impact your borrowing costs, you may be wondering what the future holds for them. Unfortunately, there’s no easy way to answer that question because mortgage rates are notoriously hard to forecast.  

But, there’s one thing that’s historically a good indicator of what’ll happen with rates, and that’s the relationship between the 30-Year Mortgage Rate and the 10-Year Treasury Yield. Here’s a graph showing those two metrics since Freddie Mac...

Keys to Success for First-Time Homebuyers

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years:

 

“Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight invento...

Friday, January 6, 2023 8:00 am by Baldwin REALTORS®

ROBERTSDALE, Ala. – The Baldwin County housing market operated at a slower pace in December 2022, according to statistics reported by Baldwin REALTORS® Multiple Listing Service (MLS). Both new inventory and closed sales decreased in comparison with December 2021 data, and properties stayed available on the market for more days than the year prior. Altogether, the county saw a total amount of $218,205,529 in closed sales – a 42.8% decrease com...

    In 2022 we saw major shifts in the market.   Home Prices: Some experts think home prices will drop next year, though the forecasted decline is higher in the new home market. Moody's Analytics expects house prices to drop by 10 percent next year due to rising housing costs and mortgage rates.   Mortgage Rates: Although there is a lot of uncertainty, some experts think that rates will dip or level out in 2023. Economic Outlook: Fitch Ratings' most recent global economic outlook pre...

Why Today's Housing Inventory Proves the Market Isn't Headed for a Crash

from Alabama Association of Realtors

August 29, 2022

Whether or not you owned a home in 2008, you likely remember the housing crash that took place back then. And news about an economic slowdown happening today may bring all those concerns back to the surface. While those feelings are understandable, data can help reassure you the situation today is nothing like it was in 2008. One of the key reasons why the market wo...

 

Higher Rates and Short Supply: The State of Real Estate in 2022 

The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.¹

 

But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, despite rising interest rates and decreasing affo...