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Even though there are more homes available for sale than there were at this time last year, there are still more buyers ...
10/28/2024

Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from. So, know that if you’ve got moving on your mind, your house can really stand out.

What’s Causing the Shortage?

1. Underproduction of Homes

2. Rising Costs

3. Regional Imbalances

How Big Is the Problem?

According to estimates from Real Estate News, the U.S. is facing a housing shortfall of roughly 3.3 million homes, based on an average of several expert insights.

This shows there’s a significant number of homes that need to be built just to meet current demand from buyers. But what about future demand?

According to John Burns Research and Consulting (JBREC), over the next 10 years, the U.S. will need about 18 million new homes to meet projected demand, including homes for new households, second homes, and replacements for aging or unusable homes.

So, even...

Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from. 

There are a number of scary myths about homebuying in today’s market. Here’s what you need to know. Prices are not expec...
10/25/2024

There are a number of scary myths about homebuying in today’s market. Here’s what you need to know. Prices are not expected to crash, it is possible to buy even with student loan debt, and there are programs that can help you save for a down payment. Don’t let scary myths delay your homebuying plans. Let's connect so you have a pro to help you separate the facts from your fears.

There are a number of scary myths about homebuying in today’s market. Here’s what you need to know.

With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing...
10/24/2024

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, here’s a look at what’s really happening. And the good news is: the latest foreclosure data shows there’s no wave on the horizon.

How Today’s Market Is Different from 2008

Let’s ease those fears by looking at the bigger picture. There’s a big difference between what’s happening now, and what happened when the housing market crashed.
As an article from Bankrate explains: “In the years after the housing crash, millions of foreclosures flooded the housing market, depressing prices. That’s not the case now. Most homeowners have a comfortable equity cushion in their homes.”...

With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market.

As you’re getting ready to sell your house, one of the first questions you’re probably asking is, “how long is this goin...
10/23/2024

As you’re getting ready to sell your house, one of the first questions you’re probably asking is, “how long is this going to take?” And that makes sense—you want to know what to expect.

More Homes Are on the Market, and That’s Affecting How Long They Take To Sell

According to Realtor.com, the number of homes for sale has been going up this year. That means there are more options for buyers, which is great news for anyone looking to buy a home. But as a seller, it also means homes are staying on the market a bit longer now that buyers have more options to choose from.

But keep this in mind. While homes might not be selling as quickly as they did last year at this time, they’re still selling faster than they did in more normal years in the housing market, before the pandemic.

As NerdWallet explains: “Overall, though, demand still outpaces supply. This is hardly a mellow market: Good homes sell quickly . . .”

Your...

As you’re getting ready to sell your house, one of the first questions you’re probably asking is, “how long is this going to take?” 

If your goal is to sell your house in 2025, now’s the time to start prepping. By starting your prep work early, you’ll g...
10/22/2024

If your goal is to sell your house in 2025, now’s the time to start prepping. By starting your prep work early, you’ll give yourself plenty of time to get your house market-ready by the end of the year. But be sure to partner with a great agent before you get started, so you have expert insight into what repairs are worth it based on your local market.

Why Starting Early Is Key

To get the best price and sell quickly, it’s important that your home looks its best. And that means it’s up to you to make the necessary repairs, declutter, and even consider updates that could add value as part of getting your house ready to list.

By starting now, you can tackle things one task at a time. Because, if you wait to knock items off your list later on, they could quickly stack up and get overwhelming.

The Importance of Working with a Local Agent

And while that data gives you a starting point, it shouldn’t be seen as a...

If your goal is to sell your house in 2025, now’s the time to start prepping.

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising fore...
10/21/2024

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.

Whether you're thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.

Mortgage Rates Are Forecast To Come Down

One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease slightly throughout the course of 2025.

While that decline won’t be a straight line down, the overall trend should continue over the next year. Expect a few bumps along the way.

Home Price Projections Show Modest Growth

While mortgage rates are expected to come down slightly, home prices are forecast to rise—but at a much more moderate...

Curious about where the housing market is headed in 2025?

You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices ris...
10/18/2024

You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise. Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time. So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.

You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise.

This year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, wh...
10/17/2024

This year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.

The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.

Ralph McLaughlin, Senior Economist at Realtor.com, explains why there was an unseasonable rise: “This sharp increase is largely due to the decline in mortgage rates in mid-August, enticing homeowners to sell.”

So, as rates came down at the end of the summer, more people jumped into the market and decided to make their move.

What Does This Mean If You’re Looking To Buy a Home?

It means more fresh options to choose from than you’ve had in a while – not the ones that have been sitting around, unsold.

Why Buy Now, Rather Than Wait?

Whether you're looking for a starter...

Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall.

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