[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f2sro1qi117je":3,"$ffeh0925h8cuz":46,"$f2emv3tus0uf1":50,"$fbwk2pqjjqsc7":54},{"item":4,"previous":34,"next":40},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":32,"updatedAt":33},1211,"why-has-housing-supply-increased-as-sales-have-slowed-down","Why Has Housing Supply Increased as Sales Have Slowed Down?","According to the latest \u003Cem>\u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fexisting-home-sales-decline-across-the-country-in-september\">Existing Home Sales Report\u003C\u002Fa>\u003C\u002Fem> from the \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F05150417\u002F20181107-Share-STM.jpg","According to the latest \u003Cem>\u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fexisting-home-sales-decline-across-the-country-in-september\">Existing Home Sales Report\u003C\u002Fa>\u003C\u002Fem> from the \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers.\u003C!--more-->\r\n\r\nFor over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared.\r\n\r\nNAR’s\u003Cem> Chief Economist\u003C\u002Fem> Lawrence Yun shed some light on what could be contributing to this shift,\r\n\u003Cblockquote>\u003Cem>“This is the lowest existing home sales level since November 2015. A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Let’s take a deeper look:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Ch4>\u003Cstrong>Interest Rates\u003C\u002Fstrong>\u003C\u002Fh4>\r\nSince January, 30-year fixed mortgage \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002F\">interest rates\u003C\u002Fa> have increased nearly a full percentage point (from 3.95% to 4.9%). \u003Cem>Fannie Mae, Freddie Mac, \u003C\u002Fem>the \u003Cem>National Association of Realtors,\u003C\u002Fem> and the \u003Cem>Mortgage Bankers Association \u003C\u002Fem>are all in agreement that rates will continue to increase to about 5.2% over the next 12 months.\r\n\u003Cblockquote>\u003Cem>“The rise in [mortgage] rates paired with this very strong price appreciation absolutely is slowing housing,”\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.wsj.com\u002Farticles\u002Fhousing-market-positioned-for-a-gentler-slowdown-than-in-2007-1539432120\">said\u003C\u002Fa> \u003Cem>Fannie Mae’s Chief Economist\u003C\u002Fem> Doug Duncan.\u003C\u002Fblockquote>\r\nEven though rates are higher than they’ve been in a decade, they still remain \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2018\u002F10\u002F02\u002Fmortgage-interest-rates-are-still-going-up-should-you-wait-to-buy\u002F\">below the average\u003C\u002Fa> for the 1970s, 80s, 90s, and 2000s!\r\n\u003Ch4>\u003Cstrong>Mismatch of Inventory\u003C\u002Fstrong>\u003C\u002Fh4>\r\nElizabeth Mendenhall, \u003Cem>President \u003C\u002Fem>of NAR, said it best, \u003Cem>“Despite small month over month increases, the share of first-time buyers in the market continues to underwhelm because there are simply not enough listings in their price range.”\u003C\u002Fem>\r\n\r\nPrices of starter and trade-up homes have appreciated faster than their higher-priced counterparts. Over the last 5 years, the lowest-priced homes have appreciated by 47% while the highest-priced homes have appreciated by only 24%.\r\n\r\nAccording to the \u003Cem>Institute of Luxury Home Market’s Luxury Market Report\u003C\u002Fem>, the $1M-and-up price range is now experiencing a buyer’s market. This means that supply (inventory) has finally caught up with demand and buyers are in the driver’s seat when it comes to negotiations. Additionally, many listings in this price range have experienced price cuts in order to entice buyers to put in offers.\r\n\u003Ch4>\u003Cstrong>Natural Disasters\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAlthough not fully to blame for the national shortage in sales and inventory, natural disasters like Hurricane Florence, Hurricane Michael, and the wildfires on the West Coast have certainly had an impact.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nAdditional inventory coming to market could help normalize the housing market and allow incomes to catch up to home prices. For more information about sales and inventory in our area, let’s get together so we can help you make the best decision for you and your family.","\r\nAdditional inventory coming to market could help normalize the housing market and allow incomes to catch up to home prices. For more information about sales and inventory in our area, let’s get together so we can help you make the best decision for you and your family.",false,[16,20,24,28],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},6,"For Sellers","sellers",{"id":25,"name":26,"slug":27},9,"Home Prices","home-prices",{"id":29,"name":30,"slug":31},35,"Mortgage Rates","mortgage-rates","2018-11-07T10:00:43Z","2018-11-06T13:10:11Z",{"id":35,"slug":36,"title":37,"featuredImage":38,"publishedAt":39,"contentType":10,"isVideo":14},1210,"5-tips-when-buying-a-newly-constructed-home","5 Tips When Buying a Newly Constructed Home","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F10\u002F15151406\u002F20181106-Share-STM.jpg","2018-11-06T10:00:45Z",{"id":41,"slug":42,"title":43,"featuredImage":44,"publishedAt":45,"contentType":10,"isVideo":14},1212,"75-of-renters-have-been-misinformed","75% of Renters Have Been Misinformed","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F05160044\u002F20181108-Share-STM.jpg","2018-11-08T10:00:07Z",{"cover":47,"open":48,"shareSpread":49},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",{"cover":51,"open":52,"shareSpread":53},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[55,59,60,61,65,69,70,74,78,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155,159],{"id":56,"name":57,"slug":58},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":21,"name":22,"slug":23},{"id":62,"name":63,"slug":64},7,"Foreclosures","foreclosures",{"id":66,"name":67,"slug":68},8,"Infographics","infographics",{"id":25,"name":26,"slug":27},{"id":71,"name":72,"slug":73},11,"First-Time Buyers","first-time-buyers",{"id":75,"name":76,"slug":77},34,"Senior Market","senior-market",{"id":29,"name":30,"slug":31},{"id":80,"name":81,"slug":82},38,"Move-Up","move-up",{"id":84,"name":85,"slug":86},41,"For Sale by Owner","for-sale-by-owner",{"id":88,"name":89,"slug":90},42,"Featured","featured",{"id":92,"name":93,"slug":94},45,"New Construction","new-construction",{"id":96,"name":97,"slug":98},52,"Luxury \u002F Vacation","luxury--vacation",{"id":100,"name":101,"slug":102},53,"Rent vs. Buy","rent-vs-buy",{"id":104,"name":105,"slug":106},80,"Time-sensitive","time-sensitive",{"id":108,"name":109,"slug":110},81,"Outdated","outdated",{"id":112,"name":113,"slug":114},147,"Internal","internal",{"id":116,"name":117,"slug":118},148,"Do Not Autopost","do-not-autopost",{"id":120,"name":121,"slug":122},320,"Inventory","inventory",{"id":124,"name":125,"slug":126},321,"Agent Value","agent-value",{"id":128,"name":129,"slug":130},322,"Affordability","affordability",{"id":132,"name":133,"slug":134},323,"Buying Tips","buying-tips",{"id":136,"name":137,"slug":138},324,"Downsize","downsize",{"id":140,"name":141,"slug":142},325,"Economy","economy",{"id":144,"name":145,"slug":146},326,"Equity","equity",{"id":148,"name":149,"slug":150},327,"Forecasts","forecasts",{"id":152,"name":153,"slug":154},328,"Selling Tips","selling-tips",{"id":156,"name":157,"slug":158},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":160,"name":161,"slug":162},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]