Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC] Many people remember the housing crash in 2008, but experts say today’s market is fundamentally different in many ways. First, there isn’t an oversupply of homes for sale today. Plus, lending standards are much tighter, and homeowners have record levels of equity. That means signs say there won’t be a wave of foreclosures like the last time. If you have questions about the housing market, DM me. #expertanswers #stayinformed #staycurrent

What Does the Rest of the Year Hold for Home Prices? Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? >>Last Year’s Rapid Home Price Growth Wasn’t the Norm In 2021, home prices appreciated quickly. There were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up. That appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale. >>Home Price Appreciation Moderates Today This year, home price appreciation is slowing from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022. Even though... #realestate #homeownership #homebuying #realestategoals

What Does the Rest of the Year Hold for Home Prices? Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? >>Last Year’s Rapid Home Price Growth Wasn’t the Norm In 2021, home prices appreciated quickly. There were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up. That appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale. >>Home Price Appreciation Moderates Today This year, home price appreciation is slowing from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022. Even though... #realestate #homeownership #homebuying #realestategoals

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer. But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans. >>The Challenge There were many reasons for the limited number of homes on the market during the pandemic, including a history of underbuilding new homes since the market crash in 2008. >>The Opportunity Moderating demand is slowing the pace of home sales and that’s one of the reasons housing supply is finally able to grow. For you, that... #firsttimehomebuyer #opportunity #housingmarket

Selling Your House? Your Asking Price Matters More Now Than Ever While home prices are still appreciating in most markets and experts say that will continue, they’re climbing at a slower pace because rising mortgage rates are creating less buyer demand. Because of this, there are more homes on the market. And in a shift like this one, the way you price your home matters more than ever. During the pandemic, sellers could price their home higher because demand was so high, and supply was so low. This year, things are shifting, and that means your approach to pricing your house needs to shift too. Because we’re seeing less buyer demand, sellers have to recognize this is a different market than it was during the pandemic. Here’s what’s at stake if you don’t. The price you set for your house sends a message to potential buyers. If you price it too high, you run the risk of deterring buyers. When... #realestate #homeownership #homebuying #realestategoals

Selling Your House? Your Asking Price Matters More Now Than Ever While home prices are still appreciating in most markets and experts say that will continue, they’re climbing at a slower pace because rising mortgage rates are creating less buyer demand. Because of this, there are more homes on the market. And in a shift like this one, the way you price your home matters more than ever. During the pandemic, sellers could price their home higher because demand was so high, and supply was so low. This year, things are shifting, and that means your approach to pricing your house needs to shift too. Because we’re seeing less buyer demand, sellers have to recognize this is a different market than it was during the pandemic. Here’s what’s at stake if you don’t. The price you set for your house sends a message to potential buyers. If you price it too high, you run the risk of deterring buyers. When... #realestate #homeownership #homebuying #realestategoals

Why the Forbearance Program Changed the Housing Market Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work with their banks and lenders to stay in their homes rather than go into foreclosure. Marina Walsh at the Mortgage Bankers Association notes, “Most borrowers exiting forbearance are moving into either a loan modification, payment deferral, or a combination of the two workout options." With those options in place, four out of every five homeowners in forbearance are either paid in full or are exiting with a plan. They’re able to stay in their homes. Since so many people can stay in their homes and work out alternative options, there won’t be a wave of foreclosures coming to the market. And while rising slightly since the foreclosure moratorium was... #realestate #homeownership #forbearance #foreclosure

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Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC] The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with pre-pandemic years. DM me so you can make your best move this year. #expertanswers #purchasingpower #buyingpower

Why It’s Still a Sellers’ Market As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know the market is still anything but normal. Think of it like this: • A buyers’ market is when there are more homes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their house. • In a sellers’ market, it’s just the opposite. There are too few homes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of homes for sale. • A neutral market is when supply is balanced and there are enough... #realestate #homeownership #homebuying #realestategoals