The current housing market is stable, with demand exceeding supply, contrary to the conditions leading to the 2008 crash. Presently, there are only 4.2 months of home supply, and unemployment is low at 4.1%. These factors combined suggest that a housing market crash is highly unlikely in the near future.
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Home Values Rise Even as Median Prices Fall
Recent headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a buyer or seller, it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story. Nationally, home values are actually rising, even if theContinue reading “Home Values Rise Even as Median Prices Fall”
The Down Payment Assistance You Didn’t Know About
Believe it or not, almost 80% of first-time homebuyers qualify for down payment assistance, but only 13% actually use it. And if you’re hoping to buy a home, this is a mission-critical gap to close – fast (see graph below): Here’s what you need to know to make the most of your down payment in today’s housing market.Continue reading “The Down Payment Assistance You Didn’t Know About”
The Latest Builder Trend: Smaller, Less Expensive Homes
Even though affordability is improving, buying a home can still feel tough right now. But here’s some good news: builders are focusing their efforts on building smaller homes, and they’re offering key incentives to buyers. And both of these things can be a big help if you’re worried about finding a home that’s right for your budget. Continue reading “The Latest Builder Trend: Smaller, Less Expensive Homes”
The Real Story Behind What’s Happening with Home Prices
Home prices are increasing but at a slower pace compared to previous years, influenced by supply and demand dynamics. Although the number of homes for sale is rising, it still doesn’t meet buyer demand, keeping upward pressure on prices. Local insights are essential for understanding specific market trends.
What’s the Impact of Presidential Elections on the Housing Market?
The upcoming Presidential election has sparked speculation about its impact on the housing market. However, historical data shows that elections have only had a minor, temporary influence on home sales, prices, and mortgage rates. In most cases, the market has bounced back the year after the election, indicating minimal long-term effects.
2025 Housing Market Forecasts: What To Expect
Looking ahead to 2025, it’s important to know what experts are projecting for the housing market. And whether you’re thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans. Here’s an early look at the most recent projections on mortgageContinue reading “2025 Housing Market Forecasts: What To Expect”
Rates are Decreasing!!
If your house buying dreams have been on hold because of escalating interest rates, this might be your perfect time. Rates have decreased, and housing inventory is up to its highest level in years. Mortgage rates impact how much you can afford in your monthly mortgage payment. Mortgage rates have been trending down recently. While that’s goodContinue reading “Rates are Decreasing!!”
Where Will You Go After You Sell?
If you’re planning to sell your house and move, you probably know there’s been a shortage of options available. But here’s the good news: the supply of homes for salehas grown in a lot of markets this year – and that’s not just existing, or previously-owned, homes. It’s true for newly built homes too. So how do youContinue reading “Where Will You Go After You Sell?”
Mortgage Rates Down a Full Percent from Recent High
Mortgage rates have recently trended downward, reaching levels not seen since February. However, hopes for a return to record-low rates are unrealistic, with experts predicting rates in the range of 5.5 to 6% over the next year. The decrease presents a window of opportunity, but waiting may lead to increased competition as buyer demand rises.
Real Estate | Your@HomeTeam 