Why Home Prices Keep Going Up   If you've ever considered purchasing your own home or selling your current home to upgrade, you're familiar with the emotional rollercoaster that fluctuating home prices can create. It is a story of financial goals, uncertainty, and a touch of anxiety that many have experienced. However, if you put off relocating out of concern that home prices will decline, you should know that they will not. In fact, the opposite is true. National... [read more]

This is a January 2023 Market Update. If you like this kind of information, be sure to like, share, and follow as I will be sharing more informative videos about the real estate market, as well as home selling and home buying tips! Now I want to start off with the reality of 2022, and that is that the 30-year fixed rate in this country doubled over the last year. We started out at around 3.2% back in January a year ago, and we ended up right at around 6.4% as we wrapped up the... [read more]

The Two Big Issues the Housing Market’s Facing Right Now   The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” Let’s break... [read more]

  We're in a time right now where there are a lot of questions, a lot of concerns, and a lot of uncertainty.We started off the year sort of seeing good buyer demand and good activity in the market. Interest rates dipped down into the fives, but bad economic news and inflation came with the higher rates, and we are currently hovering around 6.5-7%.  Sam Khater from Freddie Mac said, "The economy is showing signs of resilience, mainly due to consumer spending and... [read more]

The Three Factors Affecting Home Affordability Today   There has been a great deal of attention on the impact of rising mortgage rates on the affordability of homes for today's purchasers. It is true that rates have substantially increased since the pandemic-era record lows. But home affordability is determined by a combination of mortgage rates, property prices, and wages. Considering how each of these factors is evolving provides a complete picture of the current state of home... [read more]