Plenty of people are still moving these days.
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Life is a journey filled with unexpected twists and turns, like the excitement of welcoming a new addition, retiring and starting a new adventure, or the bittersweet feeling of an empty nest.
When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you plan your move.
As the housing market continues to change, you may be wondering where it’ll go from here.
In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory.
- It’s worth considering the many benefits of homeownership before you make the decision to rent or buy a home.
- When you buy, you can stabilize your housing costs, own a tangible asset, and grow your net worth as you gain equity. When you rent, you face rising housing costs, won’t see a return on your investment, and limit your ability to save.
- According to the latest data from CoreLogic, the average homeowner gained $64,000 in home equity over the past 12 months.
- That much equity can be a game-changer when you move. When you sell, it could be some (if not all) of what you need for a down payment on your next home.
- Based on a recent Gallup poll, real estate has been rated the best long-term investment for nine years in a row.
- Owning real estate is more than just a place to call home. It’s also an investment in your future. That’s because it’s typically a stable and secure asset that can grow in value over time.
Today’s mortgage rates are top-of-mind for many homebuyers right now.