As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling. Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In fact, the latest data from the Mortgage Bankers Continue Reading
Key Takeaways Homeownership builds wealth by building equity. If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership. On average, nationwide, home prices appreciated by 288.7% over the last 32 years. That means homeowners grow their net worth significantly in the long term. Continue Reading
Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up. Spring Continue Reading
If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. 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. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that Continue Reading
If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares: “. . . with slowly improving affordability and a Continue Reading
Price the home right from the start to sell your home efficiently. Last year, the housing market slowed down in response to higher mortgage rates, which impacted home prices. If you’re considering selling your house soon, you’ll want to adjust your expectations accordingly. As realtor.com explains: “. . . some of the more prominent pandemic trends have changed, so Continue Reading
Key Takeaway If you’re thinking about selling your house, recent headlines about home prices falling month-over-month may have you second-guessing your decision—but perspective matters. While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally on a year-over-year basis. A nearly Continue Reading
Manhattan Market Report for the week ending January 13th, Supply closed out at 5,839 and trending downward as we close out the year. Pending Sales at 2,256 and off-market listings (delisting) maintain the market pulse at a .38% level. Manhattan is holding on to price action due to the resilient rental market. With low supply in the sales market, sellers with built-in equity choose to rent or Continue Reading
A Pre-Approval is one of the first steps in your home-buying journey: getting pre-approved by a lender. 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 you Continue Reading
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