IntroductionThe U.S. housing market has undergone a remarkable transformation since 2019. Home prices surged, influenced by a combination of low interest rates during the pandemic, high demand, limited inventory, and economic volatility. By 2024, many potential homeowners are asking: When will housing become affordable again? To answer this, we must consider how interest rates and home prices interact, and...
Real Estate
As we move deeper into September 2024, the mortgage landscape continues to evolve, influenced by broader economic signals and policy changes. Recent reports highlight a trend of decreasing mortgage rates, offering potential relief for homebuyers amid economic uncertainties. A Confluence of FactorsThe expected reduction in the Federal Reserve's short-term interest rates around mid-September is largely...
As we move through 2024, home prices remain a focal point for both homeowners and investors. With the housing market evolving rapidly, understanding the factors driving price shifts is crucial for making informed decisions. From shifting trends to economic influences, many forces will shape the trajectory of home values in the coming year. This article explores the housing market trends and property price...
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By Shawn Jaryno, Associate Broker, EXIT on the Hudson Realty, NJ Earlier this week I discussed rates would be between 4.30 and 4.50 on the 10 year. The consequences of this is mortgage rates will now sit between 7.30 - 7.75 during what is traditionally the peak real estate cycle. I discussed CPI would be out Wednesday morning, CPI is out and inflation is on the rise again as expected from...
By Shawn Jaryno, Associate Broker, EXIT on the Hudson Realty, NJ Chatbots, A Cautionary Note. In the rapidly evolving landscape of technology, chatbots represent a cutting-edge intersection of artificial intelligence and human interaction. These digital assistants, capable of simulating human conversation through text or voice commands, have found a place across various industries, including...
By Shawn Jaryno, Associate Broker, EXIT on the Hudson Realty, NJ Market Update: As I have posted in the past, I developed a predictive model to give better insight into the movement of the real estate market in as close to real time as possible. As of today, March 23, we are running 8% behind the same period last year. Because of the deviation of the model, that puts home sales down at the...
In the past week, the mortgage rate landscape has experienced notable movements, offering both relief and new considerations for homebuyers and investors. The Mortgage Bankers Association (MBA) reported a significant decrease in the average contract rate on a 30-year fixed-rate mortgage, which dropped by 20 basis points to 7.41% for the week ending November 17. This decline marks a two-month low in...
By Shawn Jaryno, Associate Broker, EXIT on the Hudson Realty, NJ The rise of Artificial Intelligence voice cloning into the mainstream gives rise to those who would use the technology for nefarious purposes. The real estate industry needs to be all hands on deck for the inevitability that these scams will arrive at the doorstep of brokers and agents. What makes voice cloning so dangerous is in the...