In a matter of weeks, we’ve gone from speculation to realization: mortgage rates are now above 4% for a 30-year fixed-rate, the highest in two years. In a recent article from realtor.com, Freddie Mac Chief Economist Sam Khater said, "As rates and house prices rise, affordability has become a substantial hurdle for potential homebuyers, especially as inflation threatens to place a strain on consumer budgets." How does this scenario play out here in Colorado, and how can buyers ensure they win in this market? Read More.
Take a Deeper look into the market stats
Is Moving More Stressful Than a Breakup?
According to move.org, a relocation resource, 38% of homeowners said moving is more stressful than parting ways with a significant other. Some of the major reasons are cost, lack of supply (of trucks/packing materials), and time spent packing up household items. If you’re looking to sell in Colorado’s current housing market, the biggest stress on your mind is likely, "Can I find a home to move into?" It’s a legitimate question with the lack of housing inventory, but 8z Modern Bridge virtually erases that concern. With our Bridge program, you go shopping for your new home first, move in, then sell your home on the open market afterward. This has been the perfect solution for many 8z clients, removing the stress of selling your home and moving at the same time. Call me today if you’d like to chat about 8z Modern Bridge!
--------------------------------------------------------------------------------------- Global Uncertainty & the Impact on U.S. Housing Market In today’s world, significant political and financial events can have an impact that ripples across the globe, affecting markets thousands of miles away. The conflict in Ukraine is no exception, but the impact remains uncertain. Areas that have already seen plenty of volatility this year are the stock and cryptocurrency markets. This may affect the number of prospective buyers who are hesitant to make large purchases amid economic uncertainty. U.S. inflation is already at a 40-year high, and further increases would affect all aspects of real estate. As stated in a recent article from Realtor Magazine, "Escalating inflation is hurting renters, buyers, and homebuilders who are facing rising construction costs." The conflict overseas could also lead to higher oil and gas prices, which would surely put more strain on global supply chains, and continue to increase the cost of building materials. In short, this conflict could potentially hamper housing affordability on top of our current market factors. It’s a tough market right now, but that doesn’t mean you still can’t make the right move for you and your family. Give me a call today, I’d love to hear from you!
Jenny Kipp 8z Realtor Longmont 720.431.7935 Jenny.Kipp@8z.com JennyKipp.8z.com Matt Hardy 8z Mortgage Senior Loan Officer Lic# 100501228 303.550.5638 firstname.lastname@example.org 8zMortgage.com Longmont, CO A new way home. Copyright © 2021 8z Real Estate. All rights reserved.