Market Trends

Concerns about a potential recession are widespread. In recent years, there’s been considerable discussion about the possibility of a recession, sparking fears that it could lead to a significant increase in unemployment. Some are even apprehensive that this could result in a foreclosure crisis reminiscent of the one experienced 15 years ago. Yet, the most recent Economic Forecasting Survey by the Wall Street Journal (WSJ) indicates a shift in perspective. For the first time in over a year, less than half of the economists surveyed (48%) predict a recession in the coming year: “Economists are turning optimistic on the U.S.

When planning to move, having the most current information about the housing market is crucial. Whether you’re a buyer or a seller, the quantity of homes on the market in your area is significant. Here’s a recent update on the availability of homes for sale that answers the question of whether or not the number of homes for sale is increasing. Understanding the Current State of Housing Inventory In recent years, the narrative has been about the scarcity of homes on the market. However, recent national trends might seem confusing. According to Realtor.com, there’s a slight month-over-month increase in home

In the current real estate landscape, prospective buyers and sellers are facing challenges due to rising mortgage rates and increasing home prices, a significant shift from the trends of recent years. The accompanying graph offers a clear perspective on how today’s affordability compares with the past. As you can see in the graph above, housing affordability is historically low. The National Association of Realtors (NAR) provides guidance on interpreting the graph’s data: “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

As we approach the new year, many are curious about the prospects of buying or selling a home in 2024. Understanding expert predictions for the housing market is crucial for making well-informed decisions. Surprisingly, the outlook for what to expect in the 2024 housing market might be more positive than anticipated. Predictions Indicate Continued Rise in Home Prices Recent forecasts from Fannie Mae, the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR) provide valuable insights: The forecasts, represented by orange bars in the accompanying graph, suggest an average price increase of about 2.8% by the end of

As you navigate the decision to buy or sell a home, understanding the current trajectory of home prices is crucial. Here’s the latest information you need. Despite prevailing confusion and misinformation, national trends indicate that home prices continue to rise in most markets (refer to the graphs below): In early 2022, there was a significant surge in home prices, a trend that proved unsustainable. Consequently, the latter half of 2022 saw a correction with minor price dips, which were short-lived. Despite media emphasis on these decreases, the bigger picture is more optimistic. 2023 marks a return to rising home prices,