News Items in the Category

market conditions

Why It Makes Sense To Move Before Spring
January 26, 2023

Why It Makes Sense To Move Before Spring

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Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.

Why You Shouldn’t Fear Today’s Foreclosure Headlines
January 25, 2023

Why You Shouldn’t Fear Today’s Foreclosure Headlines

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If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s happening today. Here’s a deeper look.

The 3 Factors That Affect Home Affordability
January 24, 2023

The 3 Factors That Affect Home Affordability

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If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares:

Pre-Approval in 2023: What You Need To Know
January 19, 2023

Pre-Approval in 2023: What You Need To Know

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One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:

Have Home Values Hit Bottom?
January 18, 2023

Have Home Values Hit Bottom?

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Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008.

Think Twice Before Waiting for 3% Mortgage Rates
January 17, 2023

Think Twice Before Waiting for 3% Mortgage Rates

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Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

What Past Recessions Tell Us About the Housing Market
January 16, 2023

What Past Recessions Tell Us About the Housing Market

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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:

Today’s Housing Market Is Nothing Like 15 Years Ago
January 11, 2023

Today’s Housing Market Is Nothing Like 15 Years Ago

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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.