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If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up.
- The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy.
- The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we’re still in a sellers’ market.
Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now.
If you're planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment.
If you're thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are rising.
- In today’s whirlwind real estate market, houses are selling at astonishing speed – from sea to shining sea.
- Four years ago, the average house spent 39 days on the market. Two years ago, homes were on the market for about 24 days. Today, that number has dropped to just 17 short days.
- When you rent, you build your landlord’s wealth, your monthly payment depends on ever-rising rents, and you don’t benefit from home price appreciation.
- On the other hand, when you own your home, you build your own wealth, your monthly payment is locked in, and you benefit directly from home price appreciation.
Take a moment to imagine where you want to be in a few years.
Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future.