How to protect your home from squatters, The best company for first-time investors

Advertisement

Home inventory is returning to pre-pandemic levels. Later in this email, you will learn more about what that means for potential home buyers. 

💵 Today’s Top Stories

🏠️ Home Inventory Returning To Pre-Pandemic Levels

The factors determining home prices since before the onset of COVID-19 are numerous and complex.

But you can probably capture 80% of reality with simple “supply and demand” concepts from high school economics.

First, before the pandemic, near-zero interest rates, a long stock-market bull run and the increasing popularity of large corporations buying single-family houses as investments were just a few factors driving high demand.

The pandemic itself created pinch points in terms of building materials supply chain as well as contractors and laborers. The Fed raising interest rates from near-zero to a range of 5.25% to 5.50% changed the calculus on mortgage rates.

Those mega loans got much more expensive for buyers. And homeowners locked into historically low mortgage rates became reluctant to put their houses on the market.

That calculus finally is changing with the 0.5% rate cut. Seven states feature higher available home inventory now vs. five years ago pre-pandemic, while a few others are close.

“Generally speaking, local housing markets where active inventory has returned to pre-pandemic levels have experienced softer home price growth (or outright price declines) over the past 24 months,” the report noted.

💸 Today’s Top Savings Rates

Check out our updated list of Clark.com-approved high-yield savings accounts with the highest rates. Here are the top five APYs on our list as of October 9, 2024.

See All Rates | High Yield Savings Accounts Calculator

📊 Stat of the Day

💰️ Deal Alert: Today’s Top Deals

🎙️ Podcast

Many of us dread and avoid conversations about death, but it’s essential to have a plan. Clark talks with Jonathan Clements, a fellow money expert and longtime friend, about his financial planning journey after receiving a terminal cancer diagnosis. Jonathan shares the true value of money and happiness, if he has any regrets, and the decisions and changes he is making to ensure his family will be financially secure.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

Advertisement

Team Clark uses beehiiv to create and send our newsletters.