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Housing Market Forecast for the Rest of 2023 

8/4/2023

Want to know what experts say will happen in the rest of 2023? Home prices are already appreciating again in many areas. The average of the expert forecasts shows positive price growth.Where mortgage rates go for the rest of the year will depend on inflation. Based on historical trends, rates are likely to ease as inflation continues to cool.Even though low inventory continues to be a challenge,...

Homebuyers Are Still More Active Than Usual  

7/28/2023

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put...

What Homebuyers Need To Know About Credit Scores

6/22/2023

If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from Bankrate explains: “Your credit score is one of the most important...

The Power of a Mortgage Pre-Approval  

4/24/2023

If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One thing you can do to help you prepare is to get...

What’s the Difference Between a Home Inspection and an Appraisal?

4/20/2023

If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the...

The Two Big Issues the Housing Market’s Facing Right Now  

2/22/2023

The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply:“Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.”Let’s break down these two big issues in today’s housing...

Where Will You Go If You Sell? You Have Options.

2/1/2023

There are plenty of good reasons you might be ready to move. No matter your motivations, before you list your current house, you need to consider where you’ll go next.In today’s market, it makes sense to explore all your options. That includes both existing homes as well as newly built ones. To help you decide which is right for you, let’s compare the benefits of each. Whatever option you choose,...

What Experts Are Saying About the 2023 Housing Market

1/9/2023

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?An article from HousingWire offers this perspective:“The red-hot...

Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays  

12/1/2022

Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market.The truth is many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for. Here are five...

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008  

10/26/2022

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time.There’s Still a Shortage of Homes on the Market Today, Not...

The Latest on Supply and Demand in Housing

10/18/2022

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point.The graph below helps tell the story of just how different things are today.This year, buyer demand has eased as higher mortgage rates and mounting economic...

Four Things That Help Determine Your Mortgage Rate

10/13/2022

If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically.If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few factors to focus on. Since...

Saving for a Down Payment? Here’s What You Should Know.

10/10/2022

As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start.If that sounds like you, your down payment could be more in reach than you originally thought. Here’s why.The 20% Down Payment MythIf you believe you have to put 20% down on a home, you may have based your goal on a common...

The Long-Term Benefit of Homeownership

10/5/2022

Today’s cooling housing market, the rise in mortgage rates, and mounting economic concerns have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to factor the long-term benefits of homeownership into your decision.Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re...

Getting Your House Ready To Sell? Work with an Agent for Expert Advice

9/12/2022

In a market that’s shifting as fast as it is today, many homeowners wonder what, if anything, needs to be renovated before they sell their house. That’s where a trusted real estate professional comes in. They can help you think through today’s market conditions and how they impact what you should – and shouldn’t – do before selling your house.Here are some considerations a professional will guide...