Recovery on the Horizon
Affordable Homeownership Strategies for Gen Z
The idea of owning a home has always been a big part of the American Dream. It’s a symbol of stability, independence, and having a place to truly call your own. But for Gen Z, the “Zoomers” born between 1997 and 2012, making that dream a reality can feel like quite the challenge today with…
The Latest Expert Forecasts for Home Prices in 2023
Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn’t happened. The big reason why is the supply of homes for sale is too low. There are just more buyers looking to buy than homes available, and that’s kept prices from falling. To prove this year wasn’t a bust for home…
PRIME “ASK ME ANYTHING” (AMA) WITH APRIL LOONEY
The PRIME team was excited to invite back April Looney, ReferalExchange’s Director of Servicing Operations! PRIME’s AMA series was launched in early 2022 to facilitate a direct line to ReferralExchange’s leadership and other team members. The featured guests for these events are uniquely positioned to enhance our agent’s success with ReferralExchange referrals and understanding of…
Why Is Housing Inventory So Low?
There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply. Underbuilding Is a Long-Standing Problem One of the big reasons inventory is low is because builders haven’t…
Get Ready for Smaller, More Affordable Homes
Have your clients been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news – based on what Ali Wolf, Chief Economist at Zonda, has to say – smaller, more affordable homes are on the way: “Buyers should expect that over the next 12 to 24 months there will be a notable…
More Jobs and Better Pay Leads to More Buyer Demand
There’s been talk about a recession for quite a while now. But the economy has been remarkably resilient. Why? One reason is employment and wages have stayed strong. Let’s look at the latest information on each one. More Jobs Are Being Created Instead of facing the job losses typical of any recession, the economy has…
There’s Only Half the Inventory of a Normal Housing Market Today
You may have heard inventory is low right now, but you may not fully realize just how low or why. This graph from Calculated Risk can help put that into perspective: As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same…
PRIME Ask Me Anything – Myron Lo – Chief Strategy Officer
The PRIME team was ecstatic to deliver an all new Ask Me Anything session with Myron Lo, ReferalExchange’s Chief Strategy Officer! PRIME’s AMA series was launched in early 2022 to facilitate a direct line to ReferralExchange’s leadership and other team members. The featured guests for these events are uniquely positioned to enhance our agent’s success…
Explaining Today’s Mortgage Rates
If you’re following mortgage rates, 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…
Momentum Is Building for New Home Construction
If you’re in the process of helping a client look for a home today, then you’re feeling the impact of having a limited pool of options with how low inventory has and continues to be. But, if your biggest hurdle right now is that you’re having trouble finding something the client likes, don’t forget that…
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