March 2023 Real Estate Newsletter

Dated: March 18 2023

Views: 156

Spring is near ☀️ the weather (and real estate market) are anything but clear! Read below for housing market information, mortgage trends, and the homeowner tip/trend of the month! 

The Shelby County Market

More homes are coming on the market, which is expected in the springtime and will continue into the summer. Home values are holding strong for now, despite rumors of a market crash or crisis. The average days on market is still holding around the 3 month mark, though certain market areas are still seeing homes go under contract quickly.

The Jefferson County Market

 

Jefferson County didn't see nearly as many new homes come on the market as Shelby (1% increase compared to 13.8% increase), though the number of homes for sale is still more than double just based on the size of the county. The average home values are holding well around the $300k mark with an average market time of 3 months.

Mortgage Rate Information

As we started the year, the 30-year fixed-rate mortgage decreased with expectations of lower economic growth, inflation and a loosening of monetary policy. However, given sustained economic growth and continued inflation, mortgage rates boomeranged and are inching up toward seven percent. Lower mortgage rates back in January brought buyers back into the market. Rates are trending up again, and buyers looking to make a home purchase should move quickly as rate trends for the remainder of the year could continue to trend upward! For the full article from Freddiemac, click on the graph, or: Freddie Mac Mortgage Report

Homeowner Tips and Trends

Are you a first-time homebuyer? Not sure where to start? Check out this great article by the National Association of Realtors, which outlines 12 steps towards home ownership for first time buyers here: 12 Steps for the First Time Homebuyer

Own a home? Feeling lost with all of the repairs and upkeep? Check out this article which highlights things every homeowner needs to know about their home, including basic repairs, safety tips, and more. Click to read: 21 Things Every Homeowner Needs to Know

There’s a New APP in Town!

I launched a new FREE app for my friends and clients! This app lets you search for homes for sale, get an estimate on the value of your current home, and track your home equity. The best news, my app won't sell your private contact data to vendors, agents, and marketers that pay to get your email and phone number from Realtor.com, Zillow, Google, etc. Browse with privacy and confidence. This is just one of many ways that I am working hard to make your home buying / selling experience the best it can be! Download it today by clicking the link here: Download Shane's Free Real Estate App.

Are you or someone you know ready to take the next steps towards buying or selling a home? Please contact me today, it would be my pleasure to be your REALTOR.

 

☔ Happy Spring 🐦

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Shane Plyler

     Hey! I'm Shane with eXp Realty based in Birmingham, Alabama. I have a true passion for Real Estate. I love helping people find their dream home and navigate the tough headaches of ....

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