Tag Archives: RE/MAX

Real Estate Agent Meghan Carroll says, "Inventory levels are also still low, which is keeping the prices higher and making bidding wars commonplace here. So, it can be tough out there for some buyers–especially young, first-time buyers." Click through to read the full September 2023 Housing Report from RE/MAX.

"The inventory situation is unique—we are seeing it differ across the country depending on what area, but demand for housing is still strong. As rates stabilize, consumers' confidence should strengthen, helping boost market activity," says Nick Bailey, President and CEO of RE/MAX LLC.

Housing demand remains strong across the U.S., according to the RE/MAX National Housing Report for June, as home sales rose 5.4% from May, posting the highest median sales price since June 2022's peak price of $426,000.

As mortgage rates creep toward the 7% mark, the MBA reports a third straight week of waning interest in mortgage apps, with a lack of inventory playing a role in purchase app drop-off.

“First-time homebuyers are active and those entering the market have an edge as sellers are negotiating more and giving buyers a chance,” said RE/MAX President and CEO Nick Bailey.

While overall home sales remain down 24.4% year-over-year, February home sales increased nearly 17% from January, according to the RE/MAX National Housing Report.

The RE/MAX National Housing Report revealed new listings recorded the largest month-to-month decline in December 2022, while markets with the biggest decrease in year-over-year new listing percentages were found in Sunbelt cities such as Las Vegas and Los Angeles.

"We've seen historic competition in housing over the last two years. As the market begins to rebalance, homebuyers and sellers remain focused on the goal of homeownership despite the ongoing fluctuations," said Nick Bailey, President and CEO of RE/MAX, LLC.

With fixed-rate mortgages up nearly 195 basis points since mid-summer lows, new single-family homes tumbled in September, with more homeowners opting to remain in their current homes amid the erratic rate environment.

"After a sustained period of quick sales that kept the housing cupboard relatively bare, a supply of two months presents a lot more options for homebuyers," said Nick Bailey, RE/MAX President and CEO.