Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. [...]

Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News:

“Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.”

That activity can be seen in the latest ShowingTime Showing Index, which is a measure of buyers actively touring available homes (see graph below):

The 62% jump in showings from December to January is one of the largest on record. There were also more showings in January than in any other month since last May. As you can see in the graph, it’s normal for showings to increase early in the year, but the jump this January was larger than usual, and a lot of that has to do with mortgage rates. Michael Lane, VP of Sales and Industry at ShowingTime+, explains:

“It’s typical to see a seasonal increase in home showings in January as buyers get ready for the spring market, but a larger increase than any January before after last year’s rapid cooldown is significant. Mortgage rate activity this spring will play a big role in sales activity, but January’s home showings are a positive sign that buyers are getting back out there . . .”

It's important to note that mortgage rates hovered in the low 6% range in January, which played a role in the high number of showings. What does this mean? When mortgage rates eased, buyer interest climbed. The jump in home showings early this year makes one thing clear – while rates may be volatile right now, there are interested buyers out there, and when mortgage rates are favorable, they’re ready to make their move. 

Written by KCM Crew on March 16, 2023. Posted in For Sellers, Move-Up Buyers

St. Michaels

Voted one of the “Top 10 Best Small Coastal Towns in America” by USA Today! St. Michaels, Maryland has captured the love of visitors from all over the country! Nestled on Maryland’s Eastern Shore, the 300-year-old town is rich in historic charm, but with a refreshingly modern vibe. It’s also close to other popular destinations [...]

If you live in an older home, or just bought a new one and want to make it yours, these 10 updates might be a great place to start. These updates will help increase your home value right away.

Some home updates are all about making your home more comfortable for you and your family. For example, putting in a swimming pool won’t increase [...]

If you’re a homeowner ready to make a move, you may be thinking about using your current house as a rental property instead of selling it. A short-term rental (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years with easy-to-use platforms such as Airbnb or Vrbo. According [...]

It's Friday and we're ready for the weekend! We normally say there's nothing better then touring houses on the weekend! But touring homes can get exhausting if you don't fuel up properly before! So this week we're calling all Breakfast and Coffee Lovers! The Eastern Shore has an AMAZING selection of quaint, family-friendly places and [...]

How to Brighten Up Your Home 

These last few weeks of winter can be daunting! While winter brings early sunsets and dark mornings, you can choose to make the most of the season by enhancing the brightness of your home. Use these simple tips to offset winter’s limited daylight and create a warm and delightful retreat. It’ll be spring before [...]

What You Don’t Want to do When You Start Looking at Houses

So, you’re thinking about buying your first home? Congratulations!! You’ve worked hard to get here, and you should be proud of where you are today. Buying a home can seem like a daunting process — it just may be the most expensive and emotionally charged purchase of your life. But [...]

Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to [...]

by: Michael Rosendale

Rosendale Realty has been assisting people with moving to the Eastern Shore since 1978. People stop us in the grocery store years after moving and will say as soon as they hit the Chesapeake Bay Bridge, a big relaxing feeling comes over them as they return home. I’m not sure if it's a boat ride down the Wye River, a sunrise over the Chester River, the fresh seafood in the Kent Narrows or just a walk down the Island Trail. 

The Eastern Shore Lifestyle seems to get into their veins. Our main coverage area of Queen Anne’s, Kent, Caroline and Talbots counties seems to have something for everyone. At Rosendale Realty, we always take note of the fact that we have moved over thousands of people to enjoy our beautiful surroundings, but very few have moved back to the city life. If you want to see what the area has to offer, give us a call and we can get you pointed in the right direction. You will not regret it!!!