If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up. It's a tale of financial goals, doubts, and a dash of anxiety that many have been through.But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it's just the opposite. National data from several sources says they’ve been going up consistently this year (see graph … [Read more...]
Home Price Growth Is Returning to Normal [INFOGRAPHIC]
Some HighlightsIf you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year. Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on.Home prices aren’t falling. They’re just rising slower and going back to normal seasonal trends. That’s a good thing. If you're curious about prices in your area, reach out to a real … [Read more...]
Are Higher Mortgage Rates Here To Stay?
Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below): That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know. How Higher Mortgage Rates Impact You There’s no denying mortgage rates are … [Read more...]
Are You a Homebuyer Worried About Climate Risks?
The increasing effects of natural disasters are leading to new obstacles in residential real estate. As a recent article from CoreLogic explains: “As the specter of climate change looms large, the world braces for unprecedented challenges. In the world of real estate, one of those challenges will be the effects of natural catastrophes on property portfolios, homeowners, and communities.” That may be why, according to Zillow, more and more Americans now consider how climate risks and natural disasters can impact … [Read more...]
Home Prices Are Not Falling
During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023. The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. All of this negative news coverage made a lot of people have doubts about the strength of the residential real estate market.If it made you question if you should delay your own plans to move, here’s what you really need to know.Home Prices Never CrashedDisregard what you saw in the headlines. The … [Read more...]
Explaining Today’s Low Housing Supply [INFOGRAPHIC]
Some HighlightsWondering why the supply of homes for sale is limited today? There are a few factors at play.Lack of building over time, the mortgage rate lock-in effect, and people staying in their houses longer are three of the main reasons why supply is low.But real estate agents know exactly where to look and what to do to make your dream a reality. Connect with an agent so you have an expert on your side to help you successfully navigate the market and find your next home. … [Read more...]
Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon
You might remember the housing crash in 2008, even if you didn't own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there's good news – the housing market now is different from 2008.One important reason is there aren't enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn't show that happening.Housing supply comes from three main … [Read more...]
The Return of Normal Seasonality for Home Price Appreciation
If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend.In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That … [Read more...]
Your Home Equity Can Offset Affordability Challenges
Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know.Bankrate explains exactly what equity is and how it grows:“Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between … [Read more...]
Are More Homes Coming onto the Market?
An important factor shaping today’s market is the number of homes for sale. And, if you’re considering whether or not to list your house, that’s one of the biggest advantages you have right now. When housing inventory is this low, your house will stand out, especially if it’s priced right.But there are some early signs that more listings are coming. According to the latest data, new listings (homeowners who just put their house up for sale) are trending up. Here’s a look at why this is noteworthy and what it may … [Read more...]
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