There’s a new divide in housing right now. In some states, buyers are gaining ground. In others, sellers still have the upper hand. It all depends on where you live. Curious what’s happening in your state?These 3 maps show how the split is playing out across the country. In each one:Darker Shades of Blue = Buyer friendlyLighter Shades of Blue = Seller strongInventory Sets the StageWhile the number of homes for sale has improved pretty much across the board, how much growth we’ve seen can look dramatically different based on where you live. And that impacts who has the leverage...
When selling your house, the price you choose isn’t just a number, it’s a strategy. And in today’s market, that strategy needs to be sharp.The number of homes for sale is climbing. And that means buyers have more choices and can be more selective. If your price doesn’t line up with what else is out there, they’ll scroll right past it and go on to the next one.Pricing right from the start is your best move – and a great agent can help make sure you do.Overpricing Comes at a CostAnd more sellers are finding that out the hard way. They list their house based on how things were a year ago...
Some HighlightsWith all the headlines circulating recently, you may be wondering what’s next for home prices? Here’s what the expert forecasts say.Home prices are still forecast to rise nationally this year, just at a much slower pace. But price trends are going to vary by area.To have a quick conversation about what’s happening in your local market, connect with a real estate agent.
Here’s something you need to know. The housing market is getting back to a healthier, more normal place. And even though it may not sound like it, this shift is actually a good thing.It’s what you should expect. It’s just that our expectations have been skewed by the intense seller’s market over the past few years.But what you need to remember is: there’s still plenty of opportunity to be had if you’re thinking about selling – whether that’s next month or next year. You just need to stay up to date on what’s happening in the market, and have a strategy that matches the moment. Here’s...
A few years ago, homes were flying off the shelves and getting multiple offers well over their asking price. It felt like you could name your price and still have buyers lined up at the door.But today’s housing market is different. Buyers are getting more selective now that inventory has grown. Homes are sitting a little longer. And more sellers are having to cut their prices.So, how do you still come out on top? It all starts with one thing, pricing your house right from the start. Today, that matters more than ever – and it can make or break your sale.There’s a Real Price Disconnect...
Some HighlightsAt a national level, the housing market has shifted over the past year.There are more homes for sale, price growth has moderated, and homes are taking a little longer to sell.Do you want to know how your area compares? Connect with a real estate agent to go over what’s happening locally and what this means for you.
Over the past few years, you’ve probably seen a whole lot of headlines about how home prices keep going up. But have you ever stopped to think about what that actually means for your home?Home prices have risen dramatically over the past five years — far more than usual. And if selling has been on your mind, this could mean a bigger-than-expected payday when you list. So, how much has your home’s value really changed? Let’s break it down.The Rapid Rise of the Past 5 YearsTypically, home prices go up by about 2-5% a year. But in 2021-2022, there were double-digit increases. And at the...
Some HighlightsAre you torn between whether to buy a home now or wait? Consider this.Forecasts show prices will climb for ?at least the next 5 years. If you wait, the price of a home will be higher later on. But, if you buy a $400K now, you could gain roughly $83K in equity as prices rise.If you’re able to buy now, this equity is one reason why it’ll be worth it in the long run. Connect with an agent if you’re ready to talk through ways we can make it happen.
With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down.Election Years Bring a Temporary SlowdownIn any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG, in election years there’s usually a slightly larger dip in home sales in the month leading up to Election Day (see graph below):Why? Uncertainty. Many consumers hold off on making major decisions or purchases while they wait to see how the election will play out. It’s a...
That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below):As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. Things are moving fast, and your area...