realtor md

Realtor.com Reports Weekly Active Inventory Down 2% YoY; New Listings Down 21% YoY

10/07/202321/04/2025dansa

by Calculated Risk on 7/09/2023 08:12:00 AM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from economist Danielle Hale: Weekly Housing Trends View — Data Week Ending July 1, 2023

• Active inventory declined, with for-sale homes lagging behind the year ago levels by 2%. As we report the surge in inventory that occurred in 2022 as higher mortgage rates were priced out by many home shoppers, the number of homes for sale was not kept up. With 1 in 7 homeowners choosing not to sell this year citing high mortgage rates, and even 4 in 5 home shoppers (82%) report feeling locked-in by their existing low-rate mortgages, the housing market is not getting the influx of homes for sale that it typically does, and this is reflected in what’s available for sale. We expect inventory in 2023 to continue to struggle to keep pace and likely decline for the year as a whole.

• New listings–a measure of sellers putting homes up for sale–were down again this week, by 21% from one year ago. The number of newly listed homes has been lower than the same time the previous year

The Most Affordable Beach Towns for Homebuyers in 2023, According to Realtor.com

13/05/202321/04/2025dansa

The results range from spots in Connecticut to California.

<p>Getty Images/Barry Winiker</p> — Getty Images/Barry Winiker

It’s time to start daydreaming about a coastal lifestyle, because Realtor.com just released a list of the most affordable beach towns of 2023. Beach homes are often associated with wealth and luxury—and understandably so, as beach towns and cities account for some of the most expensive real estate in the country. However, there are some beach towns where the cost of buying a home is on par or even lower than the national average. For reference, as of 2022, the average home price in the US was $348,079 (which is up 29 percent since 2020)—and the median home price for the majority of the towns on Realtor.com’s list is lower than that.

In order to compile the list, the data team at Realtor.com, including data journalist Evan Wyloge, started with a federal listing of beaches and their locations. The team then aggregated Realtor.com listing data for every home put on the market in the past year located within a 1-mile radius of each beach and selected the most affordable beach towns by price per square foot. (The most affordable on the list comes in at $144 per square

The Fed Just Jammed Another Wrench Into the Housing Market

01/05/202321/04/2025dansa

On the precipice of the hotly anticipated spring housing market, the US Federal Reserve just dealt homebuyers another crushing blow.

Jerome Powell, chair of the Federal Reserve, told Congress on Tuesday that more aggressive interest rates might be needed to cool inflation. And while mortgage interest rates are separate from the Fed’s short-term rates, they often follow the same trajectory. Those higher rates have hit homebuyers where it hurts: their budgets.

In response to Powell’s comments, mortgage rates hit 7.03% for 30-year fixed-rate loans on Tuesday afternoon, according to Mortgage News Daily. Those higher rates are in part responsible for today’s buyers paying more than 50% a month in their mortgage payments than they would have a year ago.*

“That’s a boomer for buyers who had their hopes raised that rates would be falling,” says Realtor.com® Chief Economist Danielle Hale. “It’s going to be a more challenging spring than some people were expecting.”

Less than two months ago, there was speculation that rates would fall below 6%. Buyers had returned to the market, and bidding wars had heated up again. But the higher rates could threaten the rebound.

“It will continue to be a damper on how much

Avoid These Top 5 Financial Mistakes for Smart Money Management in 2023

27/04/202321/04/2025dansa

No one likes making mistakes, especially when they can be costly. I know that you likely share my perfectionist tendencies and are often averse to taking risks. As physicians, we are trained to carefully consider the risk-benefit ratio before making any decision because we know the consequences of making a costly mistake. While mistakes are inevitable in some aspects of our lives, we must be conscious of and deliberate in avoiding financial mistakes, as they can be detrimental to our financial well-being, and they can have significant consequences.

As an anesthesiologist, I understand the importance of minimizing mistakes, and I’ll do everything in my power to prevent them from happening. While some financial mistakes may seem obvious, such as not spending more than you earn, or hiding your money in your mattress, there are others that are not as apparent. By being intentional and mindful, we can set ourselves up for greater success in the future.

In this blog post, we’ll discuss the top five financial mistakes that you need to avoid in 2023 to achieve smart money management. From not diversifying your portfolio to investing in something you don’t understand, we’ll cover expert tips to help you avoid these

Realtors Around the Country are Quitting – But NOT in Houston!

22/02/2023dansa

Realtors around the country are quitting – but what about here? Cathy Trevino, Chairman of the Board for the Houston Association of Realtors. “We actually added nearly 16,000 members in the last 2 years. We now have a membership of over 50,000 realtors!”

However — she says she’s not surprised that Miami and Los Angeles are particularly hard hits. “Prices in the West- and East-coasts rose a lot higher and quicker than they did in Texas. Because of that we’re seeing more buyers coming to Texas!” Trevino says that the market has changed a lot in the last few months and understands why realtors in other markets could leave the field.

2017 HAR Numbers

Trevino adds: “The beginning of the year we usually see a cleaning out of agents. Some didn’t close the number of transactions they thought they would in the last year.” Case in point: Miami is losing 36% of their agents and Los Angeles is losing 27%.

Here in Houston – Trevino says their membership is at an all-time-high, having added 16 thousand members in the last 2 years.

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New association president excited for realtors to do ‘our whole jobs again’

02/02/2023dansa

Stepping into a leadership role at any time is an adjustment and doing so on the heels of a changing real estate landscape offers its own set of complications.

But Amy Layton, who took over as president of the Niagara Association of Realtors in December, understood what she was facing.

The region’s real estate market is still finding its footing, following a series of ups and downs. Last year, Niagara saw its overall home value fall 12 per cent year-over-year, after an increase of 25.4 per cent from 2020 to 2021. But that market, with its sky-high prices, quick transactions and multiple bids was “completely unsustainable,” said Layton.

This year is a different year, and her role as president is a motivating return-to-normal. It’s time for realtors, herself included, to “sharpen it up.”

“This is back to reminding everybody (to) sharpen their skills and brush up on everything if they haven’t done it already,” said Layton. “We’re always going to be needed as a realtor but now you actually have to use your skills again, which I’m really excited about. We get to do our whole job again.”

It’s also about getting back to basics, and a reminder of why

What’s the 2023 Florida Outlook?

29/01/2023dansa

ORLANDO, Fla., Jan. 23, 2023 /PRNewswire/ — What consumers, Realtors should do^® and policy makers expect when it comes to Florida real estate over the next year? After the unexpectedly strong years of 2020 and 2021 despite an ongoing pandemic, Florida’s housing sector in 2022 was affected by rapidly rising inflation and higher mortgage interest rates, Florida Realtors^® Chief EconomistDr. Brad O’Connor told nearly 500 Realtors during the 2023 Florida Real Estate Trends summit last Thursday.

Florida Realtors logo (PRNewsPhotos/Florida Realtors)(PRNewswire)

“Now, we expect the state’s residential real estate market to return to a more typical pace,” he said. “I believe 2023 will look more like the ‘traditional’ housing market year of 2018-2019 in Florida as supply and demand become more balanced.”

The event was part of this year’s Florida Realtors^®‘ Mid-Winter Business Meetings at the Renaissance SeaWorld Orlando. In addition to O’Connor, the summit featured John Leer, chief economist of Morning Consult, which uses high-frequency survey data to capture insights into consumer attitudes and concerns. Leer leads global economic research and oversees the firm’s economic data collection, validation and analysis. He is an authority on the effects of consumer preferences, expectations and