With higher mortgage rates and moderating buyer demand, conditions in the housing market are different  today . And if you’re thinking of selling your house , it’s important to understand how the market has changed and what that means for you. The best way to make sure you’re in the know is to work with a trusted housing market expert. Here are five reasons working with a professional can ensure you’ll get the most out of your sale. 1. A Real Estate Advisor Is an Expert on Market Trends Leslie Rouda Smith, 2022 President of the  National Association of Realtors  (NAR), explains: “During challenging and changing market conditions, one thing that’s calming and constant is the assurance that comes from a Realtor® being in your corner through every step of the home transaction.  Consumers can rely on Realtors®’ unmatched work ethic, trusted guidance and objectivity to help manage the complexities associated with the home buying and selling process .” An exper...

  If you’re thinking about   buying   or   selling   a home, you probably want to know what’s   really   happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. Jay Thompson, Real Estate Industry Consultant,   explains : “Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry.  Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it. ” Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market. As Jason Lewris, Cofounder and Chief Data Officer at  Parcl ,  says : “ In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt. ” But ...

  There’s no denying the long-term  financial benefits   of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of  buying a home   are important, the non-financial and emotional reasons are too. Home  means something different to all of us. Whether it’s sharing memories with loved ones at the kitchen table or settling in to read a book in a favorite chair, the emotional connections to our homes can be just as important as the financial ones. Here are some of the things that make a house a home. 1. You Can Be Proud of Your Accomplishment Buying a home is a major life milestone. Whether you’re setting out to buy your first home or your fifth, congratulations will be in order when you’ve achieved your goal. The sense of accomplishment you’ll feel at the end of your journey will truly make your home feel like a special place. 2. You Have Your Own Designated Happy Place Owning your own hom...

  The 2022 housing market has been defined by two key things: inflation and rapidly rising  mortgage rates . And in many ways, it’s put the market into a reset position. As the  Federal Reserve  (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable. But what does that mean for next year? What everyone really wants is more stability in the market in 2023. For that to happen we’ll need to see the Fed bring inflation down even more and keep it there. Here’s what housing market experts say we can expect next year. What’s Ahead for Mortgage Rates in 2023? Moving forward, experts agree it’s still going to b...

   Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have  risen dramatically . Now they’re dropping, and that has to do with everything happening in the economy. Nadia Evangelou, Senior Economist and Director of Forecasting at the  National Association of Realtors  (NAR), explains it well by saying: “ Mortgage rates dropped even further this week as two main factors affecting today’s mortgage market became more favorable. Inflation continued to ease while the Federal Reserve switched to a smaller interest rate hike . As a result, according to Freddie Mac, the 30-year fixed mortgage rate fell to 6.31% from 6.33% the previous week.” So, what does that mean for your homeownership plans? As mortgage rates fluctuate, they impact your purchasing power by influencing the cost of buying a home. Even a small dip can help boost your purchasing power. Here’s how it works. The median-priced hom...

  There are many people thinking about buying a home, but with everything affecting the  economy , some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President and CEO of the   Mortgage Bankers Association   (MBA),  explains : “ The desire for homeownership is strong . Many prospective buyers are waiting for the volatility in mortgage rates to subside, as well as for a clearer picture of the economic outlook.” If you’re in that position, remember that it’s important to consider not just what’s happening today but also what benefits you may gain in the long run. There’s a lot of information out there about how homeownership helps build a homeowner’s net worth over time. But even today, many people think first about things like 401(k)s before they think of owning a home as a wealth-building tool. It’s especially important if you’re a young prospective homebuyer to understand how homeownershi...

  If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if  homeownership   ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The  2022 Millennial & Gen Z Borrower Sentiment Report   from   Maxwell  says: “Many young adults have demonstrated their resolve to embark on the journey toward homeownership soon.  More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year .” Let’s take a look at why homeownership makes the top of so many young buyers’ to-do lists and what you need to consider to achieve your goals if you’re one of them. Top Motivators To Buy a Home Before you start the homebuying process, it’s helpful to know why homeownership is so important to you. The survey mentioned above sheds light on some of the top reasons why younger generations are looking to buy a home....