The Roselli Team - Your Real Estate Experts

The rise in   remote work   is changing what many Americans want in their homes. Many companies are choosing to delay reopening or go remote full-time, and today’s buyers are looking for homes with more space to support their work needs. As a seller, if you no longer need the extra room you have in your home,   rest assured there are buyers who do. Remote Work Is Here To Stay Remote work remains a reality for many Americans. A recent poll from   Garter, Inc.   shows many organizations have not yet returned their offices: “. . .   66% of organizations are delaying reopening their offices   due to new COVID-19 variants.” And it’s not just companies that are choosing to remain remote for the time being – workers are seeking more flexibility. According to research from   PricewaterhouseCoopers , nearly one-fifth of employees want to be fully remote in the future. The study also finds that many people are leaving jobs to seek out remote work opportunities: “Among employees looking for new j

There’s a lot of talk lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the   supply   of homes for sale as we move into the end of the year. The Number of Homes for Sale Usually Peaks in the Fall In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this year? If we look at the active monthly listings for 2021 ( shown in the chart below ), we’ll see that the number of homes on the market has increased fairly steadily since spring this year. The   realtor.com   data   shows we’re still seeing an increase in active inventory month-over-month. While that gain is a bit smaller month-to-month ( see August to September   in the chart ), September number

While today’s   supply   of homes for sale is still low, the number of   newly built homes is increasing . If you’re   ready to sell   but have held off because you weren’t sure you’d be able to find a home to move into, newly built homes and those under construction can provide the options you’ve been waiting for. The latest   Census   data shows the inventory of new homes is increasing this year   (see graph below) : With more new homes coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built home, you’ll want to keep timing in mind. The supply shown in the graph above includes homes at various stages of the construction process – some are near completion while others may be months away. According to Robert Dietz, Chief Economist and Senior VP for Economics and Housing Policy for the   National Association of Home Builders   (NAHB): “ 28% of new home inventory consists of homes that have not started c

Sellers have a great opportunity this season as buyer demand still heavily outweighs the current supply of homes for sale. According to the   National Association of Realtors   (NAR), today’s housing inventory sits at only a 2.6-month supply. To put that into perspective, a neutral market typically features a 6-month supply.   That places today’s market firmly in the   sellers’ market   category . That same NAR data also shows today’s inventory of single-family homes is trailing behind the level we saw last year   (see graph below) : Because of the ongoing supply challenges, buyers can feel like they’re wandering across a vast, empty desert when searching for their next home.   That means your house could provide an oasis for   buyers   thirsty for options   – and it could increase the chances of buyers entering a bidding war for your home. The latest   Realtors Confidence Index Survey   from NAR shows houses are   receiving an average of 3.8 offers . A multiple-offer scenario lets you

As you follow the news, you’re likely seeing headlines discussing what’s going on in today’s housing market. Chances are high that some of the more recent storylines you’ve come across mention terms like   cooling   or   slowing   when talking about where the market is headed. But what do these terms mean?   The housing market today is   anything but normal , and it’s still an incredibly strong   sellers’ market , especially when compared to the few years leading up to the pandemic. With that in mind, what can previous years tell us about today’s real estate market and if it’s truly slowing? We’re Still Seeing an Above Average Number of Sales You may see headlines about a drop in home sales. But are those headlines telling the full story? The most recent   Existing Home Sales Report   from the   National Association of Realtors   (NAR) does show a drop of about 2% from July to August. But the month-over-month decline doesn’t provide the full picture   (see graph below) : As the graph s

Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those   rates   seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of. Even today,   our mortgage rates are below what they’ve been in recent decades.   So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well below what your parents and even grandparents got in   years past . The key will be acting sooner rather than later. In late September, mortgage rates ticked above 3% for the first time in months. And according to   experts   throughout the industry, mortgage rates are projected to continue rising in the months ahead. Here’s where experts say rates are headed: While a projected half percen

There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is   very high   and supply is   very low , prices can rise   significantly . Understanding the impact both supply and demand have can provide the answers to a few popular questions about today’s housing market: Why are prices rising? Where are prices headed? What does this mean for homebuyers? Why Are Prices Rising? According to the latest   Home Price Insights   report from   CoreLogic , home prices have risen 18.1% since this time last year. But what’s driving the increase? Recent buyer and seller activity data from the   National Association of Realtors   (NAR) helps answer that question. When we take NAR’s buyer activity data and compare it to the seller traffic during the same timeframe, we can see buyer

Every Thursday,   Freddie Mac   releases the results of their   Primary Mortgage Market Survey   which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%. In a   press release   accompanying the survey, Sam Khater, Chief Economist at   Freddie Mac , explains: “Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June.” The reason Khater mentions the 10-year U.S. Treasury yield is because there has been a very strong relationship between the yield and the 30-year mortgage rate over the last five decades. Here’s a graph showing that relationship: The relationship has also been consistent throughout 2021 as evidenced by this graph: The graph also reveals the most recent jump in mortgage rates was preceded by a jump in the 10-year Treasury rate ( called out by the red circles ). So, What Imp