No housing Crash coming, according to Real Estate Expert Steven Thomas; other Experts are not so sure.
Rising inflation, stock market losses, and a housing market that seems to keep going up have homeowners and investors questioning whether the bubble is about to burst.
Orange County Housing Market: Rising mortgage rates are slowing typical spring demand
Last year was the best for local real estate since 2005. But things are changing, and demand is taking a hit as mortgage rates continue to rise. Mortgage rates have risen more than 2.25% since December, making homes less affordable. Changes in affordability that come with rising rates will cool the insane pace that has characterized the market recently.
Orange County Housing Market: Three key factors driving a slow but sure shift in the market
The time since July 2020 has been marked by an insane market pace, with houses receiving offers soon after hitting the market and buyers falling into bidding wars against other eager potential homeowners. But things are changing. With higher rates, low inventory, and muted demand, new trends are emerging. The market is shifting back to the balanced, slower pace we are used to. It will take time, as changes in the housing market don’t happen overnight, but a shift is coming. These three factors are driving the change.
Orange County Housing Market: Unprecedented Hot Seller’s Market continues as coming spring market brings increased demand
For months, each Orange County Housing Report has mentioned the insane pace of the current Hot Seller’s Market. This trend has not changed. As the spring market approaches on March 20th, demand continues to outpace inventory. We’re still in the middle of a massive inventory crisis.
Rates, supply, and home affordability: A recap of our February Housing Market Webinar with Steven Thomas
This month, we hosted a housing market webinar to help our members navigate the changing market and understand trends as we continue in 2022. Steven Thomas—local economics expert, real estate executive, and Reports on Housing author—joined us to break down the data. The full recording can be found on our Facebook page. We’ve also highlighted some of the most important questions and answers in this article.
OC Housing Market Update: How long will the bidding war last?
When a home hits the market, it’s now common for it to quickly receive dozens of purchase offers. This is because demand is outpacing supply. Low mortgage rates are no longer the primary driver of demand. Now, it’s an inventory shortage that is causing a bigger war amongst home buyers – will it last?
What you need to know before you get a mortgage
Thinking of buying a house? Rather than rushing into the process, learn the steps you need to take before getting a mortgage. Having things in order beforehand will give you a better chance of getting your loan approved and will make the home-buying process less of a headache later on.
The housing market is setting records. Find out what it means for you at our February 16th webinar.
We’re hosting a housing webinar on February 16th, and you’re invited! Since the new year kicked off, the housing market has already set records. If you’re a homeowner or a potential home buyer, you likely have questions about what the changing market landscape means for you. We’re here to provide answers at our webinar featuring Nuvision mortgage expert Mike Sternquist and local economics expert, real estate executive, and Reports on Housing author Steven Thomas. Join us on Wednesday, February 16th to hear them provide a market update and tackle today’s tough questions.