Today’s Housing Market Is Nothing Like 15 Years Ago

There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.

In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle:

Looking at the facts, it’s clear: today is very different than the housing market of 15 years ago.

There’s Opportunity in Real Estate…

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What Experts Are Saying About the 2023 Housing Market

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?

An article from HousingWire offers this perspective:

“The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. But more recently, market conditions have done an about-face. . . . now is the opportunity for everyone to become re-educated about what a ‘typical’ housing market looks like.”

This year, experts agree we…

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Lowcountry Real Estate Market Report - January 2023

MARKET UPDATE - January 2023

The US housing market began the year in a state of rebalance, with many buyers and sellers remaining cautious while they wait to see where the market is headed. Nationally, pending sales rose 2.5% month-to-month, marking the first increase since May, while sales of existing homes fell 1.5% as of last measure, according to the National Association of Realtors® (NAR). Demand for housing persists, but higher mortgage interest rates have cut into housing affordability, with total home sales down 17.8% last year compared to 2021.

As sales slow, time on market is increasing, with the average home spending 26 days on market as of last measure, according to NAR. Seller concessions have made a comeback, giving buyers more time…

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Signature Sales, February 2023 - Charter One Realty

Charter One Realty's consistent investments on behalf of Buyers, Sellers, and Communities for over three decades pay dividends for our clients. Like the international luxury brands, Charter One Realty employs world-class marketing with a global reach.

But one need only look at actual sales in the area’s luxury communities, and at the area’s $1,000,000+ transactions to understand that Charter One Realty is the Lowcountry’s Leading Luxury Brand.

Announcing our January 2023 Charter One Realty Signature Sales. Like the international luxury brands, Charter One Realty employs world-class marketing with a global reach. And when it comes to Luxury Properties, we dominate the market.

We successfully listed, marketed, and negotiated the sale of 11 $1M+…

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2022 Year-End Market Report - Hilton Head Island and Bluffton

Coastal Lowcountry 2022 Year-End Real Estate Market Update

2022 began where 2021 left off:

Mortgage rates were near historic lows, buyer competition was fierce, and homes were selling at a breakneck pace, often with multiple bids and all-cash offers, due to pent-up demand and a shortage of housing supply, causing sales prices to soar to new heights. But all that changed a few months later as mortgage rates began to rise, adding hundreds of dollars to monthly mortgage payments and causing housing affordability to plummet to its lowest level in decades. As borrowing costs continued to increase, home sales and home prices began to slow, and after two years of record-breaking activity, the red-hot housing market was finally cooling.

Sales: Pending…

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Charter One Realty Welcomes Sharon Jones

BLUFFTON, SC, January 2023 – (CharterOneRealty.com) Charter One Realty, the Lowcountry's #1 Ranked Real Estate Brokerage, is proud to announce the addition of Sharon Jones to its team of talented and dedicated agents. Sharon will be assisting home buyers and sellers in Bluffton and surrounding areas with all their real estate needs. Sharon joins the company at their Berkeley Hall office and can be reached at 978-549-2717 or by email at SharonJones@CharterOneRealty.com.

“We are very excited to welcome Sharon to our team,” said Paige Rose, CMO at Charter One Realty. “Sharon comes to us with an esteemed background in residential real estate and will make a great addition to our firm."

Sharon has a long history of providing exceptional customer service…

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Charter One Realty Welcomes Margaret Crenshaw

HILTON HEAD ISLAND, SC, January 2023 – Charter One Realty (CharterOneRealty.com), the Lowcountry's #1 Ranked Real Estate Brokerage, is proud to welcome Margaret Crenshaw to its team of talented and dedicated agents. Crenshaw joins the Kiser Jetton Group and will work out of one of the firm's Hilton Head Island locations, 11 Park Lane. 

Margaret originally hails from Alabama but considers Hilton Head her native home as her family moved here in the early 70's. She attended Sea Pines Academy, where she graduated in 1985, then attended Auburn University, where she graduated with a BFA in Theatre in 1989. She worked as a Production Manager at the HH Playhouse and has performed there and with the Arts Center of Coastal Carolina. However, Margaret has focused…

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Meet the Agent - Sharon Jones

Sharon Jones and her husband met in Charleston, SC, while she was attending the College of Charleston and her husband served in the Navy. Like so many, they fell in love with the Lowcountry and chose it as their primary vacation spot. After 17 years in Massachusetts, Sharon and her family decided to make the Lowcountry their permanent home and are loving every moment of it.

Charter One Realty sat down with Sharon to learn more about how she got her start and some of her favorite aspects of life in the Lowcountry.

CHARTER ONE REALTY: WHEN DID YOU KNOW THAT YOU WANTED TO PURSUE A CAREER IN REAL ESTATE?

Sharon Jones: Having moved over 12 times.  I was constantly watching the market wherever we were.  I decided to pursue a career when my first set of…

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Charter One Realty Welcomes Marge McDougal

HILTON HEAD ISLAND, SC, January 2023 – Charter One Realty (CharterOneRealty.com), the Lowcountry's #1 Ranked Real Estate Brokerage, is proud to welcome Marge McDougal to its team of talented and dedicated agents. Marge brings over 28 years of experience in sales, marketing, and real estate in the Coastal Lowcountry. Marge joins the company at their 11 Park Lane office located on Hilton Head Island, SC, and can be reached at 843.298.3068 or by email at Marge@MargeMcDougal.com.

Originally from Canton, Ohio, Marge has been an island resident since 1991. Avid competitive golfer, Marge enjoys the blended feeling of community and resort that Palmetto Hall offers as her home choice. When it comes to real estate, her philosophy is WIN/WIN: seeking solutions…

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Planning To Sell Your House? It’s Critical To Hire a Pro.

Planning To Sell Your House? It’s Critical To Hire a Pro.

With higher mortgage rates and moderating buyer demand, conditions in the housing market are different today. And if you’re thinking of selling your house, it’s important to understand how the market has changed and what that means for you. The best way to make sure you’re in the know is to work with a trusted housing market expert.

Here are five reasons working with a professional can ensure you’ll get the most out of your sale.

1. A Real Estate Advisor Is an Expert on Market Trends

Leslie Rouda Smith, 2022 President of the National Association of Realtors (NAR), explains:

"During challenging and changing market conditions, one thing that's calming and constant is the…

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