Market Report: December 2022

The housing crash of 2008 left 9 million people out of a home due to foreclosure. This was, in part, due to relaxed lenders loaning too much money to people that couldn’t afford the payment. Thankfully now foreclosures are the lowest they have been since the MBA started tracking them in 1979! This is mainly because of the last 2 years where homeowners had a considerable amount of appreciation. Foreclosures nationwide are up from last year but still much lower than pre-pandemic. Many were concerned that the forbearance program would stir up many more foreclosures but that fear did not materialize. It actually gave homeowners the time to get their finances in order or work out a plan with their lender

If you’re thinking about buying or selling in the next 12 months, now is the time to get a plan in place. understand the financial and logistical complexity of a move. We sold our home with twin toddlers, so I know firsthand how important it is to have a trusted partner to help manage the details while you stay focused on keeping your daily life on the rails. That’s why I’ve made it my mission to provide my clients with the knowledge and tools needed to prepare themselves for this transition. And thanks to a proven process that works, I’ve had the pleasure of helping 100’s of clients over the past 16 years to get the results they deserve so that they can move on to their next chapter with ease.

 

Real Estate Market Highlights:   (Sumner Co.)

Single-Family

Home Stats

2021 YTD 2022 YTD 2021 vs.

2022

Analysis
         
Average Sales Price $454K $574K We are seeing home prices drop in order to get under contract
Days on Market 3 11 Days on market has gone from days to weeks
Average.Price Per Sq. Foot $200 $215 Cost to build is increasing but builders are offering incentives

SimpliHOM Realty OFFICE: 855-856-9466 Website: AmberCarlson.Com Lic#306652