What Past Recessions Tell Us About the Housing Market
It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:
Is It Time To Sell Your Second Home?
During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.
Today’s Housing Market Is Nothing Like 15 Years Ago
There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.
The Truth About Negative Home Equity Headlines
Home equity has been a hot topic in real estate news lately. And if you’ve been following along, you may have heard there’s a growing number of homeowners with negative equity. But don’t let those headlines scare you.
What Experts Are Saying About the 2023 Housing Market
If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?
3 Best Practices for Selling Your House This Year
A new year brings with it the opportunity for new experiences.
Planning To Sell Your House? It’s Critical To Hire a Pro.
With higher mortgage rates and moderating buyer demand, conditions in the housing market are different today. And if you’re thinking of selling your house, it’s important to understand how the market has changed and what that means for you. The best way to make sure you’re in the know is to work with a trusted housing market expert.
Confused About What’s Going on in the Housing Market? Lean on a Professional.
If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. Jay Thompson, Real Estate Industry Consultant, explains:
What To Expect From the Housing Market in 2023
The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it's put the market into a reset position.
Homeowners Still Have Positive Equity Gains over the Past 12 Months
If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates.
2023 Housing Market Forecast [INFOGRAPHIC]
![2023 Housing Market Forecast [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2022/12/2023-Housing-Market-Forecast-MEM.png)
Some Highlights
- From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation.
- If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023.
Sources:
- realtor.com
- Home Price Expectations Survey (HPES)
- National Association of Realtors (NAR)
- Mortgage Bankers Association (MBA)
- Fannie Mae
- Freddie Mac
- Zelman & Associates
- Greg McBride, Chief Financial Analyst, Bankrate
Planning to Retire? It Could Be Time To Make a Move.
If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs.
Ready To Sell? Today’s Housing Supply Gives You Two Opportunities.
At first glance, the increase in housing supply compared to last year may not sound like good news for prospective sellers, but it actually gives you two key opportunities in today’s housing market.
What Every Seller Should Know About Home Prices
If you’re trying to decide whether or not to sell your house, recent headlines about home prices may be top of mind. And if those stories have you wondering what that means for your home’s value, here’s what you really need to know.
Reasons To Sell Your House This Season [INFOGRAPHIC]
![Reasons To Sell Your House This Season [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2022/12/Reasons-To-Sell-Your-House-This-Season-MEM.png)
Some Highlights
- If you’re planning to make a move but aren’t sure if now’s the right time, here are a few reasons why you shouldn’t wait to sell your house.
- The supply of homes for sale, while growing, is still low today. Plus, serious buyers are out looking right now, and many are hoping to avoid falling into the rental trap for another year.
- Let’s connect to determine if selling your house before the new year is the right move for you.
What’s Going on with Home Prices? Ask a Professional.
If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market.
Winter Home Selling Checklist [INFOGRAPHIC]
![Winter Home Selling Checklist [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2022/11/Winter-Checklist-MEM.png)
Some Highlights
- As you get ready to sell your house, focus on tasks that make it inviting, show it’s cared for, and boost your curb appeal.
- This list will help you get started, but don’t forget, a real estate professional will provide other helpful tips based on your specific situation.
- Let’s connect so you have advice on what you may want to do to get your house ready to sell this season.
Why There Won’t Be a Flood of Foreclosures Coming to the Housing Market
With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. But in truth, there are many key differences between what’s happening today and the bubble in the early 2000s.
3 Ways You Can Use Your Home Equity
If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 in equity right now.
Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays
Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market.
What Homeowners Want To Know About Selling in Today’s Market
If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it's not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. Realtor.com explains:
Should You Update Your House Before You Sell? Ask a Real Estate Professional. [INFOGRAPHIC]
![Should You Update Your House Before You Sell? Ask a Real Estate Professional. [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2022/11/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM.png)
Some Highlights
- You may be wondering what needs to be renovated before you sell your house. In today’s shifting market, making your house appealing is more important than ever.
- That’s why it’s essential to lean on a real estate professional who has in-depth knowledge of today’s housing market. They know what buyers are looking for and how to highlight any upgrades you make.
- Let’s connect so you know where to focus your efforts so your house will stand out in a today’s market.
Top Questions About Selling Your Home This Winter
There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision.
Home Equity: A Source of Strength for Homeowners Today
Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says:
What’s Ahead for Mortgage Rates and Home Prices?
Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible.
