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What You Need To Know About Home Price News

Written by Pembroke Pines Mortgage Syndicated User on May 18, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

The National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, while other home price indices report repeat sales prices. The vast majority of the repeat sales indices show prices are starting to appreciate again. But the median price reported on Thursday may tell a different story. Here’s why using the median home price as a gauge of what’s happening with home...

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The Worst Home Price Declines Are Behind Us

Written by Pembroke Pines Mortgage Syndicated User on May 17, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. Contrary to those headlines, home prices aren’t in a freefall. The latest data tells a very different and much more positive story. Local home price trends still vary by market, but here’s what the national data tells us.If we take a year-over-year view, home prices stayed positive – they just appreciated more slowly than they did at the peak of the pandemic. To...

Homeowners Have Incredible Equity To Leverage Right Now

Written by Pembroke Pines Mortgage Syndicated User on May 16, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time:“Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”How Your Equity Can Help You Achieve Your GoalsThe equity you build up over the years can be used to your advantage when you...

Why Today’s Housing Market Is Not About To Crash

Written by Pembroke Pines Mortgage Syndicated User on May 14, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up.But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then. Here’s why.It’s Harder To Get a Loan NowIt was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back then, banks had...

The Best Time To Sell Your House Is When Others Aren’t Selling

Written by Pembroke Pines Mortgage Syndicated User on May 14, 2023. Posted in For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Selling Myths.

If you’re thinking about selling your house, you should know the number of homes for sale right now is low. That’s because, this season, there are fewer sellers listing their houses for sale than the norm.Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph below). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April (see graph below):While there...

The Worst Home Price Declines Are Behind Us [INFOGRAPHIC]

Written by Pembroke Pines Mortgage Syndicated User on May 14, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

Some HighlightsWhile home prices vary by local area, they’ve already hit their low point nationally, and now they’re starting to rise again.Last July, prices started to decline, but around February, they began climbing back up.If you put your plans to move on hold waiting to see what would happen with home prices, reach out to a local real estate expert to discuss if now’s the right time to jump back in.

Buyer Activity Is Up Despite Higher Mortgage Rates

If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed.Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months (see graph below):As the graph shows, the first two months of 2023 saw a noticeable increase in buyer traffic. That’s likely because the limited number of homes for sale kept shoppers looking for homes...

How Homeowners Win When They Downsize

Written by Pembroke Pines Mortgage Syndicated User on May 14, 2023. Posted in Demographics, For Buyers, For Sellers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains:“Downsizing is somewhat common among older people and retirees who no longer have children living at home. But these days, younger people are also looking to downsize to save money on housing . . .”And when inflation has made most things significantly more expensive, saving...

Reasons To Sell Your House Today [INFOGRAPHIC]

Written by Pembroke Pines Mortgage Syndicated User on May 14, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Some HighlightsNot sure if selling your house is the right move today? You should know there are a number of reasons it still makes sense to sell now.Your house will stand out because inventory is low. That’s why the number of offers on recently sold homes is on the rise. And most homeowners have a lot of equity that can fuel a move.If you’re thinking about selling your house, reach out to a local real estate expert to discuss if now may be the time to move.