The housing market has undergone a lot of change recently, and much of that resulted from how quickly mortgage rates rose last year. Now, as we move through 2023, there are signs that things will finally turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing,… [Read More]
Don’t Fear Foreclosure Headlines
You’re certainly not alone if you’ve seen recent headlines about foreclosures surging in the housing market. There’s no doubt the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. However, the data shows a foreclosure crisis is… [Read More]
3 Factors That Affect Home Affordability
If you’ve followed the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors determining housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares: “. . . with slowly improving affordability and a more optimistic economic… [Read More]
2023 Pre-Approval: What to Know
One of the first steps in your home-buying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains: “In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much… [Read More]
Have Home Values Hit Bottom?
Whether you’re already a homeowner or looking to become one, the recent headlines about home prices may leave you with more questions than answers. First, news stories are talking about home prices falling, raising concerns about a repeat of what happened to prices in the crash in 2008. Based on those headlines, one of the… [Read More]
Housing Market during Past Recessions
It doesn’t matter if you’re someone who closely follows the economy or not; chances are you’ve heard whispers of an upcoming recession. But, of course, a broad range of factors determines economic conditions, so rather than explaining each in-depth, let’s lean on the experts and what history tells us to see what could lie ahead…. [Read More]
Current Market vs 15 Years Ago🏡
Undoubtedly, today’s housing market is very different from the frantic one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. However, while there may be a few similarities, there are significant… [Read More]
Insights on the 2023 Housing Market
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 significant 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? … [Read More]
Avoid the Rental Trap in 2023
If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the costs of renting moving forward. In the past year, both current renters… [Read More]
Goals in the Housing Market This Year
If buying or selling a home is part of your dreams for 2023, you need to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high inflation greatly impacted the economy, the housing market, and your wallet. That’s… [Read More]