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Why It’s Tough For Homebuyers

The supply of homes for sale has been far too low all year, and it is much worse today than it was one year ago. In fact, it’s about as bad today as what we’ve ever seen.

As I have pointed out in the past, when buyers go online and look at homes for sale, more than one-half of the listings are not really available. The supply of homes for sale is far too low for buyers to be able to casually shop for a home. Today’s report reveals a disturbing trend. We had never seen this trend so high until 2020, but it has blown past that mark by a mile.

Take a quick look at this week’s one-page special real estate report to understand exactly why it’s so tough for homebuyers today.

Year-Over-Year Home Sales Fall In April

It was only a 4% decline, nevertheless, the number of home sales declined in April when compared to April of last year.

This means that 2 of the four months this year have posted declines while the overall US housing market has posted declines for the past nine months.

How do we see the rest of 2022 progressing? Find out in this week’s Special Real Estate Report.

The Home Affordability Crisis Is Deepening

The graph in today’s report plots home affordability in Tallahassee with an adjustment for inflation and runs from 1991 through 2040, allowing me to use current information and a few conservative assumptions to forecast a dark future for home affordability.

Take a look at this week’s one-page special report where I address where we are today – how home affordability has surged at its fastest rate ever to start this year. Today’s adjusted mortgage payment is now higher (less affordable) than all previous years with the exception of 2004 through 2008 and you won’t have to guess where home affordability is going from here!

Be Prepared For Tougher Buying Conditions

The inventory of homes for sale remains far too low, and it is much worse today than it was one year ago.

As I have pointed out in the past, when buyers go online and look at homes for sale, the majority of the listings are not really available.

The supply of homes for sale is far too low for buyers to be able to casually shop for a home. One might expect to see the number of buyers in the market decline as mortgage interest rates have surged higher, but right now, it appears as if the opposite is true.

Find out just how bad it is for buyers in this week’s one-page special real estate report.

New Record High For Inventory Turnover

Are you wondering how today compares to a “normal” market for home sellers?

If so, this report answers your question.

We examine how sellers are doing compared to “normal” times by plotting the percentage of listings that sell each month, and to say the results are extreme is an understatement!

See why in this week’s one-page special real estate report.

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