[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f4h2uv2oeeg8f":3,"$ffeh0925h8cuz":42,"$f2emv3tus0uf1":46,"$fbwk2pqjjqsc7":50},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":29},1934,"todays-real-estate-market-explained-through-4-key-trends","Today’s Real Estate Market Explained Through 4 Key Trends","As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F21151040\u002F20210722-KCM-Share.jpg","As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market.\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>A Shortage of Homes for Sale\u003C\u002Fstrong>\u003C\u002Fh4>\r\nEarlier this year, the number of homes available for sale fell to an all-time low. In recent months, however, \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F07\u002F13\u002Fwhy-this-isnt-your-typical-summer-housing-market\u002F\">inventory levels\u003C\u002Fa> are starting to trend up. The latest \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Fjune-2021-data\u002F\">\u003Cem>Monthly Housing Market Trends Report\u003C\u002Fem>\u003C\u002Fa> from \u003Cem>realtor.com\u003C\u002Fem> says:\r\n\u003Cblockquote>\u003Cem>“In June, \u003Cstrong>newly listed homes grew by 5.5% on a year-over-year basis\u003C\u002Fstrong>, and by 10.9% on a month-over-month basis. Typically, fewer newly listed homes appear on the market in the month of June compared to May. \u003Cstrong>This year, growth in new listings is continuing later into the summer season, a welcome sign for a tight housing market\u003C\u002Fstrong>.” \u003C\u002Fem>\u003C\u002Fblockquote>\r\nThis is \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F07\u002F16\u002Fexperts-agree-options-are-improving-for-buyers-infographic\u002F\">good news for buyers\u003C\u002Fa> who crave more options. But even though we’re experiencing \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F07\u002F14\u002Fhousing-supply-is-rising-what-does-that-mean-for-you\u002F\">small gains\u003C\u002Fa> in the number of available homes for sale, inventory remains a challenge in most states. That’s why it’s still a sellers’ market, giving homeowners immense leverage when they decide to make a move.\r\n\u003Ch4>\u003Cstrong>Buyer Competition and Bidding Wars\u003C\u002Fstrong>\u003C\u002Fh4>\r\nToday’s ongoing low supply, coupled with high demand, creates a market characterized by high buyer competition and bidding wars. Buyers are going above and beyond to make sure \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F06\u002F21\u002F5-things-homebuyers-need-to-know-when-making-an-offer\u002F\">their offer\u003C\u002Fa> stands out from the crowd by offering over the asking price, all cash, or waiving some contingencies. The number of offers on the average house for sale broke records this year – and that’s great news for sellers.\r\n\r\nThe latest \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fresearch-and-statistics\u002Fresearch-reports\u002Frealtors-confidence-index\">\u003Cem>Confidence Index\u003C\u002Fem>\u003C\u002Fa> from the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR) says the average home for sale receives five offers (\u003Cem>see graph below\u003C\u002Fem>):\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F202010722-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-44791\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F202010722-MEM-Eng-1.png\" alt=\"Today’s Real Estate Market Explained Through 4 Key Trends | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>For buyers, the best way to put a compelling offer together is by working with a local real estate professional. That agent can act as your trusted advisor on what terms are best for you and what’s most appealing to the seller.\r\n\u003Ch4>\u003Cstrong>Home Price Appreciation \u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe competition among buyers is driving prices up. Over the past year, we’ve seen \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F07\u002F06\u002Fa-look-at-home-price-appreciation-through-2025\u002F\">home price appreciation\u003C\u002Fa> rise across the country. According to the most recent \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fintelligence\u002Fhome-price-gains-more-than-tripled-over-the-past-year\u002F\">\u003Cem>Home Price Index\u003C\u002Fem>\u003C\u002Fa> (HPI) from \u003Cem>CoreLogic\u003C\u002Fem>, national home prices increased 15.4% year-over-year in May:\r\n\u003Cblockquote>\u003Cem>“The May 2021 HPI gain was up from the May 2020 gain of 4.2% and was \u003Cstrong>the highest year-over-year gain since November 2005\u003C\u002Fstrong>. Low mortgage rates and low for-sale inventory drove the increase in home prices.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nRising home values are a big part of why real estate remains one of the top sought-after investments for Americans. For \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F07\u002F12\u002F4-major-incentives-to-sell-this-summer\u002F\">potential sellers\u003C\u002Fa>, it also means it’s a great time to list your house to maximize the return on your investment.\r\n\u003Ch4>\u003Cstrong>A Rise in Home Values and Equity\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F06\u002F23\u002Fhomeowner-wealth-increases-through-growing-equity-this-year\u002F\">equity\u003C\u002Fa> in a home doesn’t just grow when a homeowner pays their mortgage – it also grows as the home’s value appreciates. Thanks to the jump in price appreciation, homeowners across the country are seeing record-breaking gains in home equity. \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fpress-releases\u002Fnationwide-homeowner-equity-gains-hit-1-9-trillion-in-q1-2021-corelogic-reports\u002F\">\u003Cem>CoreLogic\u003C\u002Fem>\u003C\u002Fa> recently reported:\r\n\u003Cblockquote>\u003Cem>“…homeowners with mortgages (which account for roughly 62% of all properties) have seen their \u003Cstrong>equity increase by 19.6% year over year\u003C\u002Fstrong>, representing a collective equity gain of over $1.9 trillion, and an \u003Cstrong>average gain of $33,400 per borrower\u003C\u002Fstrong>, since the first quarter of 2020.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThat’s a major perk for households to leverage. Homeowners can use that equity to accomplish major life goals or move into their \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F06\u002F11\u002Fhave-your-day-in-the-sun-by-moving-up-this-summer-infographic\u002F\">dream homes\u003C\u002Fa>.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you’re thinking about buying or selling, there’s no time like the present. Let’s connect to talk about how you can take advantage of the conditions we’re seeing today to meet your homeownership goals.","\r\nIf you’re thinking about buying or selling, there’s no time like the present. Let’s connect to talk about how you can take advantage of the conditions we’re seeing today to meet your homeownership goals.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F202010722-MEM-Eng-1.png",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers",{"id":26,"name":27,"slug":28},9,"Home Prices","home-prices","2021-07-22T10:00:49Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":15},1933,"remote-work-has-changed-our-home-needs-is-it-time-for-your-home-to-change-too","Remote Work Has Changed Our Home Needs. Is It Time for Your Home To Change, Too?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20122147\u002F20210721-KCM-Share.jpg","2021-07-21T10:00:25Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":15},1935,"pop-quiz-can-you-define-these-key-terms-in-todays-housing-market-infographic","Pop Quiz: Can You Define These Key Terms in Today’s Housing Market? 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