How Much “Housing Wealth” Can You Build in a Decade?
Earlier this month, the National Association of Realtors (NAR) released a special study that estimates median home price appreciation over the last 30 years based on the length of homeownership.
Thinking of Selling? Now May Be the Time.
The housing market has started off much stronger this year than it did last year.
Opportunity in the Luxury Market This Year
At the start of last year, many of the more expensive homes listed for sale hadn’t seen as much interest, since much of the demand for housing over the past few years has come from first-time buyers looking for starter homes. It looks like buyer activity, however, is starting to show a shift in this segment.
Interest Rates Over Time [INFOGRAPHIC]
![Interest Rates Over Time [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2020/02/20142807/20200221-NM.jpg)
Some Highlights:
- With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time.
- According to Freddie Mac, mortgage interest rates are currently hovering near a five-decade low.
- The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan. Maybe it’s time to lock in now while rates are still low.
The #1 Misconception in the Homebuying Process
After over a year of moderating home prices, it appears home value appreciation is about to reaccelerate.
How Trusted Professionals Make Homebuying Easier to Understand
In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy.
The Overlooked Financial Advantages of Homeownership
Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater stability, savings, and predictability.
Reasons to Fall in Love with Homeownership [INFOGRAPHIC]
![Top Reasons to Love Homeownership [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2020/02/13171723/Feb-Infographic-01-ENG.jpg)
Some Highlights:
- There are many benefits to love about homeownership, and they’re not all financial.
- Being a part of a neighborhood, driving academic achievement, and improving mental health are just a few of these advantages.
- Reach out to a local real estate professional today to determine if you’re ready to embrace the rewards of owning your own home.
How the Housing Market Benefits with Uncertainty in the World
It’s hard to listen to today’s news without hearing about the uncertainty surrounding global markets, the spread of the coronavirus, and tensions in the Middle East, just to name a few. These concerns have caused some to question their investment plans going forward.
Homeownership Rate on the Rise to a 6-Year High
Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high.
The Top States Americans Moved to Last Year [INFOGRAPHIC]
![The Top States Americans Moved to Last Year [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2020/02/06085540/20200207-NM-scaled.jpg)
Some Highlights:
- Americans are on the move, and the most recent Atlas Van Lines Migration Patterns Survey tracked the 2019 traffic flow from state-to-state.
- Idaho held on to the top spot of ‘high inbound’ states for the second time since 2017, followed by Washington State.
- New York was the country’s outbound move leader in 2019, a designation it most recently held in 2014.
Great News for Renters Who Want to Buy a Home
Rents in the United States have been skyrocketing since 2012. This has caused many renters to face a tremendous burden when juggling their housing expenses and the desire to save for a down payment at the same time. The recent stabilization of rental prices provides a great opportunity for renters to save more of their current income to put toward the purchase of a home.
How to Avoid a Gender Gap When Investing in the Housing Market
When buying a home, we all want to feel like we’re making the right decision, paying a fair price, and making the best investment of our lives. According to a recent gender-based study, men and women can unknowingly walk away with very different financial outcomes when the deal closes. Thankfully, if you follow some simple ways to arm yourself with the information you need to prepare in advance, you’re more likely to feel like you’ve won when the keys to your new house are in your pocket.
Three Reasons Why Pre-Approval Is the First Step in the 2020 Homebuying Journey
When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd.
5 Reasons Homeowners Throw Better Parties During the Big Game [INFOGRAPHIC]
![5 Reasons Homeowners Throw Better Parties During the Big Game [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2020/01/30123113/20200131-NM.jpg)
Some Highlights:
- There’s more room to entertain a large crowd.
- The kitchen is big enough to whip up endless appetizers – yum!
- You don’t have to worry about complaints to your landlord when the cheering kicks in!
Strength of the Economy Is Surprising the Experts
We’re currently in the longest economic recovery in U.S. history. That has caused some to ask experts to project when the next economic slowdown (recession) could occur. Two years ago, 67% of the economists surveyed by the Wall Street Journal (WSJ) for the Economic Forecasting Survey predicted we would have a recession no later than the end of this year (2020). The same study done just three months ago showed more than one third of the economists still saw an economic slowdown right around the corner.
Where Have All the Houses Disappeared To?
If you’re following what’s happening in the current housing market, you’ve seen how the lack of newly constructed homes is a major reason there’s a shortage of housing inventory available to today’s buyers. Another reason is that the inventory of existing homes for sale is shrinking. According to the most recent Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 10.8% from the same time last year. That exceeds expectations and is great news.
First-Time Buyers Are Searching for Existing Homes This Year
In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a home over the next 12 months. The report indicates the percentage of all buyers that will be first-time buyers looking to purchase a home grew from 58% in Q4 2018 to 63% in Q4 2019.
2020 Homebuying Checklist
Some Highlights:
- If you’re thinking of buying a home, plan ahead and stay on the right track, starting with pre-approval.
- Being proactive about the homebuying process will help set you up for success in each step.
- Make sure to work with a trusted real estate professional along the way, to help guide you through the homebuying steps specific to your area.
The #1 Reason It Is Difficult to Find Your Dream Home
The headlines in real estate today all revolve around one major point: there is a shortage of homes available for sale. Price appreciation is accelerating again because there is a shortage of homes available for sale. In certain markets, affordability is becoming more challenging because there is a shortage of homes available for sale.
How Buyers Can Win By Downsizing in 2020
Home values have been increasing for 93 consecutive months, according to the National Association of Realtors. If you’re a homeowner, particularly one looking to downsize your living space, that’s great news, as you’ve likely built significant equity in your home.
Make the Dream of Homeownership a Reality in 2020
In 1963, Martin Luther King, Jr. led and inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof over our heads, and a place where our families can grow and flourish.
Where Homebuyers Are Heading By Generation [INFOGRAPHIC]
![Where Homebuyers Are Heading By Generation [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2020/01/17105726/20200117-NM-1-scaled.jpg)
Some Highlights:
- Whether capitalizing on job opportunities, affordability, or warm-weather places to retire, Americans are making moves to these top cities to take advantage of the strength in the current housing market.
- A strong economy and lower mortgage rates have made it easier for many would-be buyers to get into the market. According to realtor.com, it just depends on which market.
- To find the top market in your area, contact a local real estate professional.
Housing Inventory Vanishing: What Is the Impact on You?
The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years.
Homes Are More Affordable Today, Not Less Affordable
There’s a current narrative that owning a home today is less affordable than it has been in the past. The reason some are making this claim is because house prices have substantially increased over the last several years.
