Author name: Keith LaBrunda - RE/MAX Town & Valley

Home buyers waiting for the housing market to collapse, driving home prices lower, might need to adjust their expectations. Contrary to hopes for a downturn, current data indicates a continued rise in home prices. The landscape of today’s housing market bears little resemblance to the pre-2008 crash conditions. Here are the key reasons why an impending crash is unlikely: Stricter Loan Requirements Enhance Market Stability Obtaining a mortgage is significantly more challenging now than in the period leading up to the 2008 crisis. Previously, lenient lending standards allowed almost anyone to secure a home loan or refinance, contributing to the […]

Amidst the buzz around falling home prices you might catch in the news, it’s crucial to look beyond the headlines. The reality is, the broader narrative doesn’t align with the snippets you’re hearing. A closer examination of the national figures for 2023 reveals an overall positive trajectory in home prices throughout the year. Despite some regional variations and occasional national dips, these instances were outliers rather than a prevailing trend. The real story of the past year is one of growth, not decline. Let’s delve deeper into the facts to clarify the situation. 2023: A Year of Stabilized Home Price

Despite a national trend of rising home prices, there’s still a lingering concern among some that prices might decrease. A Fannie Mae survey reveals that 24% of respondents anticipate a decline in home prices over the next year. This statistic highlights that nearly one in four individuals are grappling with this uncertainty, possibly including you. To alleviate these worries, let’s delve into what specialists in the field are predicting for this year’s home prices. Predicted Modest Growth in Home Prices Refer to the accompanying graph for the latest predictions from eight distinct sources: The graph’s blue bar indicates a consensus