{"id":20271,"date":"2022-04-07T12:22:03","date_gmt":"2022-04-07T12:22:03","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20271"},"modified":"2022-04-07T12:22:05","modified_gmt":"2022-04-07T12:22:05","slug":"hope-for-weary-buyers","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/hope-for-weary-buyers\/","title":{"rendered":"Hope for Weary Buyers"},"content":{"rendered":"\n

Hope for Weary Buyers<\/p>\n\n\n\n

As the spring buying season kicks off, many aspiring home buyers may find themselves priced out and feel frustrated by the competition. Home prices are higher, as are mortgage rates. Bidding wars remain fierce.<\/p>\n\n\n\n

But housing analysts say home buyers may soon see a change and a possible opening for those who\u2019ve been frustrated by the competition and the soaring prices.<\/p>\n\n\n\n

The signs may seem dim at the moment: Home buyers are paying about 30% more for a house than they would have just a year ago due to higher sales prices and mortgage rates, according to realtor.com\u00ae. Mortgage rates have risen by nearly a point and a half over the past year, which has increased borrowing costs. Mortgage rates, about 3% last year, are now pushing toward 5%.<\/p>\n\n\n\n

Lawrence Yun, chief economist of the National Association of REALTORS\u00ae, recently said in a statement<\/a> that \u201cthere will be an inevitable slowdown in home sales.\u201d He said people should be watching homes\u2019 days on the market and looking for a decrease in multiple offers as the earliest signs of the slowdown. \u201cHome sellers should not expect big easy profit gains,\u201d he says. But Yun also told MarketWatch that he doesn\u2019t believe home prices will turn negative either.<\/p>\n\n\n\n

Realtor.com\u00ae says home prices may initially rise over the next few weeks as some buyers rush to snatch up properties ahead of any further rate increases. But real estate experts believe that the huge run-up in prices may be nearing an end.<\/p>\n\n\n\n

With higher mortgage rates, \u201chousing is going to have to adjust,\u201d says Danielle Hale, realtor.com\u00ae\u2019s chief economist, who adds that she sees uncertainty on how the market will do so, though.<\/p>\n\n\n\n

Economic matters are proving to be wild cards for the housing industry. The highest inflation in 40 years is hitting consumers\u2019 pocketbooks. Sixty-two percent of Americans say that inflation has affected their spending, according to the Capital One Marketplace Index.<\/p>\n\n\n\n

\u201cHomebuyers have to be able to afford their mortgage payments and all of the other things in their budget, [which is] getting harder to do,\u201d Hale says. Source: \u201cHomebuyers, Take Heart: Prices Could Flatten\u2014or Even Dip\u2014This Year<\/a>,\u201d realtor.com\u00ae (April 6, 2022) and \u201cInstant Reaction: Jobs, April 1, 2022<\/a>,\u201d National Association of REALTORS\u00ae<\/p>\n","protected":false},"excerpt":{"rendered":"

Hope for Weary Buyers As the spring buying season kicks off, many aspiring home buyers may find themselves priced out and feel frustrated by the competition. Home prices are higher, as are mortgage rates. Bidding wars remain fierce. But housing analysts say home buyers may soon see a change and a possible opening for those … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-20271","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHope for Weary Buyers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/hope-for-weary-buyers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hope-for-weary-buyers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hope-for-weary-buyers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Hope for Weary Buyers\",\"datePublished\":\"2022-04-07T12:22:03+00:00\",\"dateModified\":\"2022-04-07T12:22:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hope-for-weary-buyers\\\/\"},\"wordCount\":383,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hope-for-weary-buyers\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hope-for-weary-buyers\\\/\",\"name\":\"Hope for Weary Buyers - 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