Some HighlightsAffordability is based on three key factors: mortgage rates, home prices, and wages.And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, connect with an agent to talk about why now may be the perfect time to jump back in. … [Read more...] about The Top 3 Reasons Affordability Is Improving
Home Values Rise Even as Median Prices Fall
Recent headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a As Ralph McLaughlin, Senior Economist at Realtor.com, explains:“When a change in the mix of inventory toward smaller homes is accounted for, the typical home listed this year has increased in asking price compared with last … [Read more...] about Home Values Rise Even as Median Prices Fall
Secrets To Selling Your House Quickly
Seeing your house sit on the market without any bites is the ultimate frustration. And unfortunately, some sellers are in that tricky spot today.According to data from the National Association of Realtors (NAR), the average time a house spends on the market has increased over the past few years (see graph below):A recent post from Realtor.com notes a similar trend:“During the … [Read more...] about Secrets To Selling Your House Quickly
This Is the Sweet Spot Homebuyers Have Been Waiting For
After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your … [Read more...] about This Is the Sweet Spot Homebuyers Have Been Waiting For
Buying Beats Renting in 22 Major U.S. Cities
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 … [Read more...] about Buying Beats Renting in 22 Major U.S. Cities