It’s a common scenario in a hot market – the buyer has their next home within their grasp, but then the seller backs out of the contract. How can this happen and what can buyers do about it? Home sellers back out of signed contracts because of a higher offer, higher appraisal than the buyer’s…Read More→
Compared to the interest rates over the last decade, especially the low rates that kicked off the housing boom of 2020, current interest rates may seem exorbitantly high. But the truth is that mortgage interest rates are simply nearing long-term historical averages of 8%, and are well below rate increases reached during other inflationary periods….Read More→
First-time homebuyers are discouraged by high home prices, higher interest rates and continuing inflation. According to the National Association of REALTORS, by mid-2022, first-timers made up only 26% of all homebuyers, the lowest number in 41 years. The age of first-timers rose from 33 to 36, an all-time high, while their median household income slipped…Read More→
