Many homeowners are increasingly considering renting their houses instead of selling them, with a rise from 47% in 2021 to 66% today. Factors to evaluate include the suitability of the property for renting, responsibilities of being a landlord, and associated costs. Ultimately, this choice hinges on personal financial and lifestyle goals.
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What To Look For From Last Week’s Fed Meeting
The Federal Reserve’s recent rate cut aims to influence mortgage rates and ease borrowing costs amid fluctuating inflation, job growth, and unemployment. While mortgage rates may gradually decline into 2025, they depend on economic conditions and potential market volatility. Understanding these factors can guide homebuying decisions effectively.
Expect the Unexpected: Anticipating Volatility in Today’s Housing Market
The current housing market is experiencing volatility due to factors like economic data, unemployment rates, Federal Reserve decisions, and the presidential election. Mortgage rates are fluctuating, though a downward trend is anticipated. Partnering with a knowledgeable real estate agent can help navigate these changes and make informed buying or selling decisions.
Why Home Sales Bounce Back After Presidential Elections
With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. While we’ve addressed this issue a couple of times in recent blogs as the election approaches, today’s blog will go into more detail. Let’s break it down. Election Years Bring a Temporary Slowdown InContinue reading “Why Home Sales Bounce Back After Presidential Elections”
Why Today’s Foreclosure Numbers Won’t Trigger a Crash
With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many people are concerned that high prices and tighter budgets could cause more homeowners to fall behind on their mortgage payments, leading to a wave of foreclosures. But before you start worrying about a housing market crash,Continue reading “Why Today’s Foreclosure Numbers Won’t Trigger a Crash”
Two Reasons Why the Housing Market Won’t Crash
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.
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.
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