Columbia, MD based Dependable Homebuyers recently published a blog post titled "As New Homes Sales Dropping in April, Is It Time To Panic?" With new data from the real estate market showing that the housing market is in a bad state, many homeowners and other entities looking to buy homes may be afraid that now is not the best time to do so. According to an article by Kelsi Maree Borland, for instance, the housing market still faces serious issues with affordability.
“With rising mortgage rates, the deterioration of affordability is accelerating,” says the article. “Home affordability issues are worsening. According to a new report from ATTOM Data Solutions, national home affordability is at its lowest level in 10 years. Home affordability currently ranks 92 on the research firm’s index, with 100 representing a balanced market. This is the second consecutive quarter that home affordability has fallen below 100 on the index. A disconnect between housing price appreciation and income growth has been the primary drive of affordability issues across the country.” Read the article in full at https://www.dependablehomebuyers.com/blog/as-new-homes-sales-dropping-in-april-is-it-time-to-panic/.
Combined with rising mortgage rates, the housing market will continue to experience a drastic increase in housing affordability issues. According to some experts, affordability is one of the best ways to judge the current state of the housing market—and with affordability being one of the biggest issues facing homeowners and potential buyers, it is reasonable to conclude that the housing market is in quite an unhealthy state.
Another problem facing the market is stalled mobility, which refers to an individual’s inability to purchase bigger or smaller houses, or even make a career move. People cannot move even if they want because the real estate industry in its current state does not allow them to. “The stalled mobility notion also impacts entry level buyers,” notes a Forbes article quoted in Dependable Homebuyers’ blog post. “At a certain point, when prices rise, entry level buyers can't afford to enter the market. In turn, a lack of affordability prevents movement and increases supply. These two factors could cause prices to decline because sellers who are priced too high will receive fewer offers and eventually be forced to lower prices.”
If this trend continues, the possibility of a housing market collapse increases. If such a collapse is indeed on the way, it is only a matter of time before it takes the US economy with it. While it may be true that housing affordability is on the lower side, more opportunistic homeowners looking to sell their houses know that now is the best time to do so. The current state of the market means that there is very little competition and sellers can ask for almost any price they want from certain buyers and investors.
Dependable Homebuyers is one of the house buyers that is ready and willing to buy houses quickly and at a decent price even in the current economic environment. The company will pay cash upfront for their client’s house, thus saving homeowners from having to pay expensive real estate agent fees or go through the exhaustive process of selling the house on their own, a notably difficult task considering the current state of the housing market. As experts in solving real estate problems, Dependable Homebuyers are the answer to many of the questions homeowners may have with the current state of the housing market.
“I was originally skeptical, until I spoke with Evan over the phone,” says Lucinda Haynes, one of the company’s many clients. She continues, “I should have called sooner! They provided me the best option for selling my home and I couldn’t be happier!”
Those looking to sell their house quickly and at a fair price are encouraged to contact Dependable Homebuyers today. The company guarantees that they will pay cash for each home, and clients can be sure they will walk away with cash in their pocket once their home is sold. Read more about Dependable Homebuyers at the following link: https://www.pressadvantage.com/story/29480-relocated-residents-in-maryland-prefer-renting-over-buying-experts-say.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in Maryland. We buy houses in any condition and any situation. If you want to sell your house fast, give us a call at (443) 219-8331 and we’ll provide you a cash offer within 24 hours.
August 01, 2019 – Dependable Homebuyers says the Real Estate Market in Maryland is Booming