Real Estate Blog - Inventory

What’s Motivating More Buyers To Choose a Newly Built Home?

Posted by The Kombrink Team on December 26th, 2024

Planning to buy a home soon? Why not go for something brand-new? Because data shows a lot more buyers are seeing the appeal of new home construction these days – and you may find out it’s what you want too.

The National Association of Realtors (NAR), explains that newly built homes accounted for 15% of all homes sold last year. That’s a significant increase, and is actually the highest percentage in 17 years (see graph below):

To get a closer look at why so many people are opting for a brand-new home, NAR surveyed recent buyers. And here are the top reasons why new builds gained so much popularity (see graph below):

 Avoiding Renovations or Problems with Plumbing or Electricity (42%)

According to buyers, the number one benefit is the peace of…

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More Starter Homes Are Hitting the Market

Posted by The Kombrink Team on December 17th, 2024

More entry-level homes – also known as starter homes – are popping up on the market. And after several years with very few homes available to buy and prices rising, there are finally some more options for first-time buyers.

Inventory Is Increasing – Especially at Lower Price Points

Over the past year, the total supply of homes for sale has improved. According to Realtor.com, in November there were 26.2% more homes for sale compared to this time last year, marking 13 months of inventory growth and the most homes available since December of 2019.

Interestingly, the growth isn’t spread evenly among all types of homes, though. According to Redfin, starter homes have seen the biggest increase (see graph below):

So, if you’re a first-time buyer…

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The Top 2 Reasons To Look at Newly Built Homes

Posted by The Kombrink Team on December 12th, 2024

When planning a move, a newly built home might not be the first thing that comes to mind. But with more brand-new homes on the market and builders focusing on smaller, more affordable options, this type of home may just be the key to crossing the homebuying finish line.

Here's why a new build is worth considering – and how an agent can help you find one that meets your needs and your budget.

1. More Newly Built Homes Are Available Right Now

First, let’s break down the types of homes on the market. A newly built home is a house that was just built or is under construction. On the other hand, an existing home is one a homeowner has already lived in.

Right now, the number of existing homes for sale is still low. And, if you’re struggling to find…

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What Will It Take for Prices To Come Down?

Posted by The Kombrink Team on December 10th, 2024

You may be wondering if home prices are going to crash. And believe it or not, some people might even be hoping this happens so they can finally purchase a more affordable home. But experts agree that's not what's in the cards – and here's why.

There are more people who want to buy a home than there are homes available to purchase. That’s what drives prices up.

Let’s break that down and explore why, nationally, home prices aren’t going to be coming down anytime soon.

Prices Depend on Supply and Demand

The housing market works like any other market – when demand is high and supply is low, prices rise.

According to the latest estimates, the U.S. is facing a housing shortfall of several million homes. That means there are far more people…

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Why This Winter Is the Sweet Spot for Selling

Posted by The Kombrink Team on December 6th, 2024

Some Highlights

• Thinking about selling your house? Here are a few reasons why you may want to do it this season.
• Buyers looking right now are serious about moving and the number of homes for sale is typically lower this time of year – helping your house stand out.
• While inventory is higher this year than it’s been in the last few winters, you'll still be in this year’s sweet spot.

Originally posted at Simplifying The Market.

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Don’t Let These Two Concerns Hold You Back from Selling Your House

Posted by The Kombrink Team on November 18th, 2024

If you’re debating whether or not you want to sell right now, it might be because you’ve got some unanswered questions, like if moving really makes sense in today’s market. Maybe you’re wondering if it’s even a good idea to move right now. Or you’re stressed because you think you won't find a house you like.

To put your mind at ease, here’s how to tackle these two concerns head-on.

Is It Even a Good Idea To Move Right Now?

If you own a home already, you may have been holding off because you don’t want to sell and take on a higher mortgage rate on your next house. But your move may be a lot more feasible than you think, and that’s because of your equity.

Equity is the current market value of your home minus what you still owe on your loan. And…

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More Homes, Slower Price Growth – What It Means for You as a Buyer

Posted by The Kombrink Team on November 13th, 2024

There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s look at two reasons why.

You Have More Options To Choose From

An article from Realtor.com helps explain just how much the number of homes for sale has gone up this year:

“There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.”

And while the number of homes on the market still isn’t quite back to where it was in the years leading up to the pandemic, this is definitely an improvement (see graph below):

With more homes available for sale…

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Why Your House Will Shine in Today’s Market

Posted by The Kombrink Team on October 28th, 2024

Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from. So, know that if you’ve got moving on your mind, your house can really stand out.

There are several key reasons why there aren’t enough homes to go around and understanding them will help you see why the market is working in your favor if you’re ready to make a move.

What’s Causing the Shortage?

1. Underproduction of Homes: For years, the industry hasn’t built enough homes to keep up with demand. As Zillow explains:

“In 2022, 1.4 million homes were built — at the time, the best year for home construction since the early stages of the Great Recession. However, the number of U.S. families…

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Two Reasons Why the Housing Market Won’t Crash

Posted by The Kombrink Team on October 9th, 2024

You may have heard chatter recently about the economy and talk about a possible recession. It's no surprise that kind of noise gets some people worried about a housing market crash. Maybe you’re one of them. But here’s the good news – there’s no need to panic. The housing market is not set up for a crash right now.

Real estate journalist Michele Lerner says:

“A housing market crash happens when home values plummet due to a lack of demand for homes or an oversupply.”

With that definition in mind, here are two reasons why this just isn’t on the horizon.

1. Demand for Homes Is Higher than Supply

One of the biggest reasons the housing market crashed back in 2008 was an oversupply of homes. Today, though, it’s a very different story.

It’s a…

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Buying Beats Renting in 22 Major U.S. Cities

Posted by The Kombrink Team on September 30th, 2024

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below):

As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.

This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. Things are moving fast, and your area might be joining these top metros soon.

You see, talking with a local real estate agent about what’s happening in your market before this happens in your ideal…

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