August 2022 Newsletter

Want To Buy a Home? Now May Be the Time.

There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of opportunity for you:

“This is an opportunity for people with a secure job to jump into the market, when other people are a little hesitant because of a possible recession. . . They’ll have fewer buyers to compete with.”

Two Reasons There Are More Homes for Sale

The first reason the market is seeing more homes available for sale is the number of sales happening each month has decreased. This slowdown has been caused by rising mortgage rates and rising home prices, leading many to postpone or put off buying. The graph below uses data from realtor.com to show how active real estate listings have risen over the past four months as a result.

The second reason the market is seeing more homes available for sale is because the number of people selling their homes is also rising. The graph below outlines new monthly listings coming onto the market compared to last year. As the graph shows, for the past three months, more people have put their homes on the market than the previous year.

Bottom Line

The number of homes for sale across the country is growing, and that means more options for those thinking about buying a home. This is the opportunity many have been waiting for who were outbid or out priced last year.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Some Highlights:

  • The housing market is shifting away from the intensity of the past two years.

  • Home prices are forecasted to rise more moderately than last year.

  • Mortgage rates will respond to inflation.

  • Home sales will be more in line with pre-pandemic years.

…at Keller Williams Success Realty last month.

In a low inventory market, Keller Williams Success Realty agents are still beating the local market average, getting more contracts written and more deals on the table…

Caprese Scones

Ingredients

  • 1 1/2 cup flour (plus more for dusting)

  • 2 Tbs. sugar

  • 3 tsp baking powder

  • 4 Tbs. cold butter, cut into small cubes

  • 1/2 cup milk

  • 1 egg

  • 8 oz cubed mozzarella

  • 1 cup loose basil leaves, chopped

  • 1 cup cherry tomatoes, quartered

  • Coarse salt

Instructions

  1. Preheat your oven to 400.

  2. In a large mixing bowl combine the flour, sugar, baking powder and a pinch of salt. Whisk. Take the chilled butter and add it to the bowl. Using your fingers, press the butter through to create thin flakes. Keep going until the butter has completely crumbled and fully incorporated into the flour. You don’t want any large chunks of butter.

  3. In a smaller bowl, whisk together the milk and egg and add it to the flour mix. Then add in the cubed mozzarella, chopped basil and quartered tomatoes. Using a wooden spoon, give this a rough stir to start combining. Then tip it onto a floured work surface and knead the dough until it becomes a mound. You’ll have to add quite a bit more flour to shape the mound because the tomatoes are so juicy. But fear not! Just keep adding flour and you’ll get there.

  4. Using a pastry cutter, cut the dough in half, then into fourths, then into eighths. They’ll be little triangles, which are scone shaped. Cute, huh?

  5. Transfer onto a rimmed baking sheet and bake for 15 minutes, until the scones have baked through and are puffed and golden pink.

    Serve immediately! Makes 8 scones.