Real Estate

Considering a property purchase? The rumors of plummeting home prices this year might have caused some hesitation. However, the facts and specialists’ insights should bring clarity. Contrary to beliefs, home prices are not plummeting and are set to end the year on a high note. Despite the buzz about potential price reductions of 5, 10, or even 20% this year, such a scenario hasn’t materialized. The primary reason is the limited availability of homes on the market. The demand from buyers exceeds the supply, preventing any significant price drop. To validate that 2023 wasn’t a disappointing year for property prices,

If you’re contemplating purchasing a home, it’s crucial to understand what experts anticipate will happen to home prices in the coming years and how that could impact your investment. Despite some negative headlines over the past year, home prices are performing better than anticipated and are on the rise nationwide. Moreover, projections indicate that this upward trend in home prices will continue. Continued Price Appreciation Pulsenomics recently conducted its quarterly Home Price Expectation Survey (HPES), polling over 100 economists, investment strategists, and housing market analysts. The survey results reveal expert predictions about home price trends for the next five years.

Why Is It So Difficult to Find a House to Buy Right Now? If you’re contemplating a move in the current market, you’re likely wondering: Why are there so few houses available for purchase? While it might seem tempting to wait for more options to become available, that might not be the wisest course of action. Here’s the rationale behind it. The scarcity of homes on the market isn’t a new phenomenon; it’s been an ongoing issue for several years. Let’s delve into the long-term and short-term factors contributing to this limited availability. Chronic Underbuilding Adds to the Problem One

Interest Rates and Housing Market Updates If you’re considering purchasing a home this year, you’re likely keeping a keen eye on mortgage rates. Given that these rates directly influence your home loan affordability—especially in today’s challenging market—it’s crucial to understand their historical trends, current standing, and potential future movements. Additionally, it’s vital to examine how mortgage rates correlate with inflation for a more comprehensive outlook. Understanding the Recent Surge in Rates Freddie Mac has been monitoring the 30-year fixed mortgage rate since April 1971. They publish the findings of their Primary Mortgage Market Survey weekly, which compiles mortgage application data