Svenja Gudell - Zillow

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Last quote by Svenja Gudell

Once mortgage rates climb to 5 or 5.5 percent, we are going to start to see the lock-in effect really take hold.feedback
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May 14 2017
Svenja Gudell has been quoted 23 times. The one recent article where Svenja Gudell has been quoted is These are the best cities for first-time homebuyers. Most recently, Svenja Gudell was quoted as having said, “As millennials reach the typical homebuying age, they are coming into a tough housing market with low inventory and lots of competition. More challenging metros aren't out of reach for new buyers, but they should be prepared to face a more competitive buying environment.”.
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Svenja Gudell quotes

Going forward, it's unlikely that housing will be much of a drag on growth, but Q4 data showed a slowdown in wage and salary growth that could certainly impact housing affordability, particularly as interest rates keep rising.feedback

My advice to buyers would be to not freak out and feel a sense of urgency. If you aren't able to buy a house at 4.5 percent, you probably weren't able to buy a house at 4 percent.feedback

The housing market has been favoring sellers for the past few years. Sellers in the current housing landscape often have the luxury of listing their home 'as-is' without fixing it up or with only minimal window-dressing since demand for homes has been high and inventory low. It's common for sellers to receive multiple bids, and in the hottest markets, sell for over asking price, but these conditions will change in the future.feedback

Inadequate supply of homes available to buy – especially at the entry-level end of the market – remains a huge problem.feedback

Clearly, the market continues to underestimate just how much demand for homes is out there, even in the face of tight inventory and rising existing home prices that are now the highest on record.feedback

Still, the market can't stay on this course forever, and continued inventory shortages are leading to intense competition, escalating prices and mounting buyer frustration, with the average home search over the past year taking more than four months.feedback

At its worst, negative equity touched all kinds of homeowners in all kinds of markets. The type of community a given home was in – urban or suburban – mattered little. Fast-forward a few years, and the relative vibrancy of a given community and how it has performed over the past few years, and not necessarily its location in the city or suburbs, matters a great deal.feedback

Broadly speaking, the falling homeownership rate is a sign that renting isn't only for those just starting out or making a transition, but is becoming an increasingly viable longer-term option for many households. It also means incomes are not yet rising quickly enough to broadly support new homeownership, and that inventory remains too tight to allow for meaningful access to affordable housing.feedback

I think right now it has more than a novel feeling to it. I don't think people are expecting it to move the needle on any point.feedback

The struggle will continue for home shoppers this summer. New construction has been sluggish over the past year; we're building about half as many homes as we should be in a normal market. There still aren't enough homes on the market to keep up with the high demand from every type of homebuyer.feedback

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