Headline: Homebuyers Stall Due to Sticker Shock

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Filed under: Market Comentary

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I saw a headline on CNBC today that made me laugh: Homebuyers Stall Due to Sticker Shock. Is it true?

There’s definitely a bunch of buyers out there, especially for this early in the year. Inventory is still low – it’s a struggle to get into the market because of the competition.

Reading a Little More on the Topic

I looked deeper into the article, and it said that demand is up 59% year-over-year. So, I guess they are talking about stalling relative to last week? Applications are down just a small amount this week. But this year-over-year growth is unbelievable, especially in the midst of the pandemic.

If you have questions about whether the market is hot, the answer is a resounding YES! You hear so much about the lack of inventory, which is true. But we are selling significantly more units of homes year-over-year. It speaks to the velocity of the market and the incredible amount of demand on the buyer side.

Be Skeptical About the Headlines

I wanted to point out how important it is to watch the headlines that you see. This headline made it sound like things might be slowing down a little bit. But if you read the article, you get more information about what is happening. And in this article, they didn’t address one of the most important industry factors: current inventory. At this point, inventory is one of the biggest challenges in real estate.

If you are thinking about selling, there is no reason to wait. Obviously, it’s smart to fit the schedule to your family needs. The typical answer this time of year is to wait until spring, but there’s no reason to hold off this year. Everything is on fire and the industry is holding strong.

Do you have questions about buying or selling your home right now? I’m here to help with the financing. Reach out anytime and I’ll help you find the right mortgage solution for your needs.

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