Posts from: Market Insight
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Where are all the houses for sale?There are only 19 active listings for sale in the Nokomis area. Of those 19, 2/3 have been on the market for over 3 weeks and the other 1/3 have only been listed less than 7 days.What does this tell us? If your home is priced right and…
Nate Lansing
Interest rates jumped nearly .5% since the beginning of the year.What's going on and what does it mean for buyers and…
Nate Lansing
The time to sell is NOW! 60% of new listings sold in the first 7 days and multiple offers are becoming more common.We've also started to see some of the tactics from 2021 return, waived inspections, appraisal gap guarantees, and escalation clauses.If you've been considering…
Nate Lansing
The spring housing market has arrived. Buyers are out in force, homes are selling quickly, and multiple offers are becoming more common.
If you are planning to sell in 2024, now is an excellent time. Start making your plans sooner rather than later.
If you are buying,…
Nate Lansing
80% of the new listings that hit the market last week have already sold. This is the highest percentage we've seen so far in 2024. Buyer demand is up and inventory remains very low.If you are thinking of selling in 2024, now is the time to make a…
Nate Lansing
Nearly every major industry player has revised their price forecasts up for 2024.
Why? Locally these price increase numbers are being driven by very low inventory. If/when rates drop, prices will jump even more.
Don't try to time the market. Waiting for low rates may be…
Nate Lansing
Interest rates ticked up this week. What's driving higher rates?This month's inflation data came back higher than expected and has put a damper on the Feds plans to lower interest rates.It is important for buyers to weigh rising rates now vs higher homes prices later. Any…
Nate Lansing
Is the housing market picking up?In short, not yet. Active listings stayed flat for the week and only 11 new listings hit the market. However, of those new listings nearly half sold in the first 7 days, great news for sellers.Historically, the market starts to heat up after…
Nate Lansing
It's been a bit of a slow start for the housing market in 2024.What's causing it and is it a good time to…
Nate Lansing
Rates hit the lowest level since May 2023. Great news for the housing market.Fannie Mae predicts rates will be under 6% by the end of 2024. Also great news.A word of caution for buyers. As rates decrease competition from other buyers will increase and most likely drive home…
Nate Lansing
Only 3 houses hit the market in the past week, but houses are still selling.Active inventory dropped to 21 from 29 meaning that buyer demand has increased. Buyer demand and inventory should continue to increase as we head towards…
Nate Lansing
The housing market started off 2024 a bit slow (which isn't unusual) with only 7 houses hitting the market.The weekly new listings number will be the number to watch as we move through January and into February. Lower mortgage rates should spur more listing activity.…
Nate Lansing
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