Experts Project Home Prices Will Rise over the Next 5 Years

Written by Longboat Key Mortgage Mortgage Syndicated User on December 4, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Selling Myths.

Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them. To help ease that concern, here’s what the experts say will happen with home prices not just next year, but over the next five years. Experts Project Ongoing Appreciation While seeing a small handful...

3 Reasons To Sell Your House Before the New Year [INFOGRAPHIC]

Written by Longboat Key Mortgage Mortgage Syndicated User on December 1, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Longboat Key Mortgage, Mortgage Longboat Key, Selling Myths.

Some Highlights Here are a few reasons you may not want to hold off until the new year to sell your house. Buyers looking right now are highly motivated, the supply of homes for sale is still low, and you may find buyers are more flexible with showings this time of year. Reach out to a real estate agent to determine if selling your house now is the right move for you.

Is Owning a Home Still the American Dream for Younger Buyers?

Written by Longboat Key Mortgage Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

Everyone has their own idea of the American Dream, and it’s different for each person. But, in a recent survey by Bankrate, people were asked about the achievements they believe represent the American Dream the most. The answers show that owning a home still claims the #1 spot for many Americans today (see graph below): In fact, according to the graph, owning a home is more important to people than retiring, having a successful career, or even getting a college degree. But is the dream of homeownership still alive for younger generations? A recent survey by 1000watt dives into how...

Why the Economy Won’t Tank the Housing Market

Written by Longboat Key Mortgage Mortgage Syndicated User on November 29, 2023. Posted in Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

If you’re worried about a coming recession, you’re not alone. Over the past couple of years, there’s been a lot of recession talk. And many people worry, if we do have one, it would cause the unemployment rate to skyrocket. Some even fear that a spike in unemployment would lead to a rash of foreclosures similar to what happened 15 years ago. However, the latest Economic Forecasting Survey from the Wall Street Journal (WSJ) reveals that, for the first time in over a year, less than half (48%) of economists believe a recession will actually occur within the next year: “Economists are turning...

Are The Top 3 Housing Market Questions on Your Mind?

Written by Longboat Key Mortgage Mortgage Syndicated User on November 28, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers, Selling Myths.

When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in. Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them. 1. What’s Next for Mortgage Rates? Mortgage...

Is Wall Street Buying Up All the Homes in America?

Written by Longboat Key Mortgage Mortgage Syndicated User on November 27, 2023. Posted in Buying Myths, For Buyers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers.

If you’re thinking about buying a home, you may find yourself interested in the latest real estate headlines so you can have a pulse on all of the things that could impact your decision. If that’s the case, you’ve probably heard mention of investors, and wondered how they’re impacting the housing market right now. That could leave you asking yourself questions like: How many homes do investors own? Are institutional investors, like large Wall Street Firms, really buying up so many homes that the average person can’t find one? To answer those questions, here’s the real story of what’s happening...

Home Prices Still Growing – Just at a More Normal Pace

Written by Longboat Key Mortgage Mortgage Syndicated User on November 22, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Pricing.

If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise. Some people are still saying prices are falling, even though data proves otherwise. Part of that misconception is because people are getting their information from unreliable sources. But it’s also coming from some media coverage misrepresenting what the data really shows. So, to keep things simple, here’s what you really need to know using real data you can trust. Normal Home Price Seasonality Explained In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality....

Are There Actually More Homes for Sale Right Now?

Written by Longboat Key Mortgage Mortgage Syndicated User on November 21, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Selling Myths.

If you’re looking to make a move, you want to be sure you have the latest information on the housing market. To help make that possible, here’s an update on the supply of homes for sale today. Whether you’re looking to buy or sell, the number of homes available in your local market matters to you. Take a look below. What’s the Truth About Today’s Housing Inventory? While the story for the past few years has been how few homes are on the market, recent national data may leave you feeling a bit confused. That’s because Realtor.com shows inventory is actually growing a bit month-over-month in...

2024 Housing Market Forecast [INFOGRAPHIC]

Written by Longboat Key Mortgage Mortgage Syndicated User on November 17, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Longboat Key Mortgage, Mortgage Longboat Key, Pricing.

Some Highlights Thinking of buying or selling a house and wondering what the new year holds for the housing market? Experts forecast home prices to end this year up 2.8% and to rise another 1.5% in 2024. And climbing prices help make homeownership a good investment. Plus, home sales are projected to increase in 2024. That’s good news because it means experts are forecasting more activity as people continue to move. If you’re planning to buy or sell, it’s helpful to know what experts project for the housing market. Connect with a local real estate agent to talk about the latest forecasts...

People Are Still Moving, Even with Today’s Affordability Challenges

Written by Longboat Key Mortgage Mortgage Syndicated User on November 16, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Selling Myths.

If you’re thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are rising. That much is true. Take a look at the graph below. It breaks down how the current affordability situation stacks up to recent years. The National Association of Realtors (NAR) explains how to read the values on the graph: “To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home.” The...

Category: Housing Market Updates