Personal matters may be most important in deciding when and whether it’s time to sell your Lewes, DE home, but at least one real estate industry designation may also factor into that all-important decision: the declaration that it’s now a “buyer’s market” or a “seller’s market.”

When buyers read that real estate is in a buyer’s market, expectations rise that sellers will be more prone to accepting offers that shave dollars off of an asking price. The opposite holds when it’s thought to be a seller’s market—few would be astonished if their full-price offer is outbid by another buyer. For buyers, overcoming seller’s market headwinds consists of moving fast when an opportunity arises—and being patient (and persistent) while awaiting the next one to appear.

Most of the time, real estate activity tilts in one direction or another, but isn’t categorically declared to be a buyer’s or seller’s market. But if last week’s public pronouncements are any indication, the current market is an exception:

Housingwire (3-30): “Economist Matthew Speakman said the expectation of increased price growth is expected to persist for many more months.”

NAR.Realtor: “February 2021 brought…the median sales price up 15.8% year over year, and inventory is down 1.1 months from February 2020.”

Realty Times (4-1): “If you want to buy, there are… challenges because it is what you would characterize as a seller’s market.”

American Enterprise Institute (3-29): “National Home Price Appreciation for February 2021 averaged 12.3%. This is up from 6.6% a year ago.”

CNBC (3-29): “There were only 1.03 million homes for sale at the end of February—a nearly 30% decline from last year. That’s the largest annual drop ever—and the lowest supply ever!”

The Wall Street Journal may have been most convincing of all with its Personal Finance commentary: “Sellers,” it advised, “this is your time.”

With U.S. properties selling in just about half the time it took a year ago (20 days on the market this February versus 36 days in 2020), the “seller’s market” declaration could be a deciding factor for some Lewes, DE home sellers. If that’s your own disposition, I hope you’ll give me a call! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestatemarket.com.

About the last thing house-hunters need is additional time pressure—but there are reasons why this spring’s future homeowners may imagine they can hear a faint tick tick tick as they comb through the Lewes, DE listings. If they’ve been tracking the national media, the rise in asking prices is nothing new. Combined with the upward creep of mortgage interest rates, the slow and steady climb in the monthly mortgage payments they can expect is creating a practical reason why acting sooner rather than later seems increasingly prudent.

Last Thursday’s Eye on the Economy from the National Association of Home Builders did little to alleviate that suspicion. The article spelled out some of the factors that affect more than just Lewes, DE listing prices for newly built homes. As the demand for housing in general increases, new and existing home markets affect one another—and both respond to the nationwide shortage of inventory.    

The builder-specific issues are increasing. Lumber costs “are now nearly 200% higher” than they were a year ago—a factor that alone adds approximately $24,000 to the price of a typical new house. Supply chain issues have added another speedbump: nine out of ten builders report costly delays in appliance deliveries. That may seem like a minor snag, but it’s one that becomes serious when you think about moving into a new home without a dishwasher or washing machine. Added to widespread shortages in the availability of lots to build on is a shortage of skilled labor to do the building. The result is a further slowdown in homes available for move-in—and new home prices headed skyward.

The NAHB calculates that the negative impact on affordability will continue to mount: each $1,000 increase in home prices causes another 154,000 households to be priced out of the market. It’s no wonder that some of this spring’s buyers may feel more than the usual degree of urgency when they comb the Lewes, DE listings.

I keep my house-hunting clients on top of the latest Lewes, DE market conditions as we work to land the home they’re looking for—the one that meets their needs and their budget. It starts with a phone call! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestatemarket.com.

Freddie Mac’s slogan is “We make home possible”—a claim that is literally true for more than a few Lewes, DE homeowners. Freddie (the Federal Home Loan Mortgage Corp.) has the stated mission to keep money flowing (that is, supply liquidity) to the nation’s smaller mortgage lenders, while “Fannie Mae” does the same for large retail banks. Both are government-sponsored enterprises.

This past Tuesday, Freddie published its “4 Reasons to Refinance Your Mortgage.” Since the Corporation has north of $2 trillion in assets under management, you could say there were at least two trillion reasons why anyone who ever deals with Lewes, DE home loans might find the ideas worth checking out. Freddie’s reasons for refinancing:

Lower your monthly Lewes, DE mortgage payments. Ever since home loan rates dipped down into the “historically” low range, financial advisors have urged homeowners to reexamine their current mortgage rates to see if taking out a new loan would put more cash in their pockets.

Pay off your home loan sooner. If a refinanced loan would carry a lower rate, Lewes, DE homeowners who arrange to continue paying the same monthly amount will retire the mortgage at an earlier date. Net result: they’ll own their Lewes, DE home free and clear sooner.

Save on total interest paid. That’s just another way of looking at the end result of a lower monthly interest rate.

Switch mortgage types. When negotiating a refi’s terms, homeowners may be able to switch from a fixed-rate to an adjustable-rate mortgage (ARM)—or vice-versa.

 For Lewes, DE homeowners who are reasonably certain that they will move before the first adjustment is made, switching to an ARM could be a desirable way to preserve cash. Likewise, a current ARM loan holder might breathe easier by locking in today’s rates for the long haul.

They aren’t earthshakingly original, but as rates begin to creep higher, Lewes, DE homeowners who haven’t yet sat down to work out the consequences of refinancing may be happy later on if they do so at this juncture. Call me anytime for a no-obligation discussion of the potential offered by this or any other Lewes, DE real estate initiative. Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestatemarket.com.

 Most of this year’s Lewes, DE homebuyers fall into one of the major categories described in the most recent NAR statistical homebuyer survey. The National Association of Realtors® makes it a key part of their research to keep track of the nation’s homebuyers—the NAR’s professional members need to stay in touch with the latest changes in homebuyer preferences and characteristics. After all, those are both Realtors’ clients and our clients’ prospects.

This latest yearly report made for especially interesting reading. As the first sampling to encompass home sales in the pandemic era, you’d expect some shifts in who was buying and what properties they were being attracted to. Like COVID-19 itself, the details from this past year were bound to show some novel characteristics, which they did—including one statistic about an almost inexplicable 3% of buyers.

These post-pandemic changes surfaced:

Homebuyers who completed purchases after last March were 36% more likely to have chosen a multi-generational home—one that could accommodate extended family members.

The sense of urgency among home buyers—including a stated desire to accelerate their transactions—increased notably after March.

Even though sellers were more likely to use incentives to spur a sale, homes sold after March had higher median selling prices: $300,000 compared with $270,000!

The average buyer’s age reached an all-time high: 55 years old. First-timers averaged 33.

The NAR study found that “97% of buyers searched for their home online.”

It’s the last statistic that might pique the curiosity of attentive local readers. If that percentage holds for Lewes, DE homebuyers as well as for those in the national average, who, exactly, makes up the mysterious 3%? Who would NOT have checked out the online listings at least once before buying their next home? Unless that’s the percentage of people whose computers and smartphones are in the repair shop (or who have a really, really bad cable connection), uncovering the answer may call for a modern-day Sherlock Holmes. Until he shows up, this will have to remain one of those riddles wrapped in a mystery inside an enigma…  

For me, tracking market changes is a full-time commitment—one that helps me serve both my Lewes, DE homebuying and selling clients. I hope you’ll call! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestatemarket.com.