If you’re holding out hope that the housing market is going to crash and bring home prices back down, here’s a look at what the data shows. And spoiler alert: that’s not in the cards. Instead, experts say home prices are going to keep going up.
If you’re looking to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month.
That’s because even a small change in mortgage rates can have a big impact on your purchasing power.
The best way to navigate changing mortgage rates and make an informed buying decision is to rely on the expertise of a local real estate professional and mortgage lender. Call Linda now @954-464-5434
Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall.
So, let’s see exactly how experts’ thinking has shifted – and what’s caused the change.
There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: compared to the near 8% peak last fall, mortgage rates have trended down overall.
Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture.
Home affordability depends on three factors: mortgage rates, home prices, and wages.
Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual.
That’s good news if you want to buy a home because it means affordability is getting better. Call Linda now to start your home-buying journey. You can reach her at 954.464.5434
If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.
Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process.
If you want to become a homeowner this year, it's a good idea to learn these key housing terms and understand how they relate to the current housing market. That will help you feel confident when you buy a home.
Connect with Linda so you can get expert help with any questions you have. Call her now at 954.464.5434
If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.
Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years.
If you're worried about falling home prices, don't be. Many experts forecast they'll keep rising for years to come. If you have questions, ask Linda! Call now at 954.464.5434.