If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a   good time   to get back into the market states  Cynthia Eastwood - President/Broker of Bello Sol Inc-West USA Realty of Prescott .  That’s because today’s market is   undergoing a shift , and the supply of homes for sale is increasing as a result. That means you may have a better chance of finding a home that will meet your current needs. Here are some options to consider. Buying an Existing Home Can Give You That Lived-in Charm According to the  National Association of Realtors  (NAR), the supply of  existing homes  (a home that’s been previously owned) has steadily increased since the beginning of the year. The graph below indicates inventory levels are rising, and that’s largely due to  more homes  coming onto the market and the pace of sales slowing: As the graph shows, if you’re looking for a home with...

  With so much talk about an economic slowdown,  some people are asking if the housing market is heading for a   crash   like the one in 2008.  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  To really understand what’s happening with real estate today, it’s important to lean on the experts for reliable information. Here’s why economists and industry experts say the housing market is not a bubble ready to pop. Today Is Nothing Like 2008 The 2008 housing crash is still fresh in the minds of many homebuyers and sellers. But today’s market is different. Odeta Kushi, Deputy Chief Economist at  First American,  says: “This is not the same market of 2008. . . . It’s no secret the housing market played a central role in the Great Recession, but this market is just fundamentally different in so many ways.” Natalie Campisi, Advisor Staff for  Forbes , explains how to...

  If you’ve been thinking about buying a home  state  Cynthia Eastwood - President/Broker of Bello Sol Inc-West USA Realty of Prescott s , you likely have one question on the top of your mind:   should I buy right now, or should I wait?   While no one can answer that question for you, here’s some information that could help you make your decision. The Future of Home Price Appreciation Each quarter,  Pulsenomics  surveys  a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of  home price appreciation . The output is the  Home Price Expectation Survey.  In the latest release, it forecasts home prices will continue appreciating over the next five years ( see graph below ): As the graph shows, the rate of appreciation will moderate over the next few years as the  market shifts  away from the unsustainable pace it saw during the pandemic. Afte...

   It’s true that record levels of   home price appreciation   have spurred significant   equity gains   for homeowners over the past few years states  Cynthia Eastwood - President/Broker of Bello Sol Inc-West USA Realty of Prescott . As Diana Olick, Real Estate Correspondent at CNBC,  says : “The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners  record amounts of housing wealth .” That’s great for your home’s value over the last couple of years, but what if you’ve lived in your home for longer than that? You may be wondering how much equity you truly have. The  National Association of Realtors  (NAR) has done  a study  to calculate the typical equity gains over longer spans of time. The data they compiled could be enough to motivate you to move. Just remember, to find out how much equity you have in your specific home, you’ll want to get a professional equity assessment from ...

  According to a recent   survey , more and more Americans are concerned about a possible recession states  Cynthia Eastwood - President/Broker of Bello Sol Inc-West USA Realty of Prescott . Those concerns were validated when the Federal Reserve met and confirmed they were strongly committed to bringing down inflation. And, in order to do so, they’d use their tools and influence to slow down the economy. All of this brings up many fears and questions about how it might affect our lives, our jobs, and business overall. And one concern many Americans have is:  how will this affect the housing market?  We know how  economic slowdowns  have impacted home prices in the past, but how could this next slowdown affect real estate and the cost of financing a home? According  to  Mortgage Specialists :   “ Throughout history, during a recessionary period, interest rates go up at the beginning of the recession . But in order to come out of a recessi...

  Cynthia Eastwood - President/Broker of Bello Sol Inc-West USA Realty of Prescott states.   It’s true that record levels of   home price appreciation   have spurred significant   equity gains   for homeowners over the past few years. As Diana Olick, Real Estate Correspondent at CNBC,  says : “The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners  record amounts of housing wealth .” That’s great for your home’s value over the last couple of years, but what if you’ve lived in your home for longer than that? You may be wondering how much equity you truly have. The  National Association of Realtors  (NAR) has done  a study  to calculate the typical equity gains over longer spans of time. The data they compiled could be enough to motivate you to move. Just remember, to find out how much equity you have in your specific home, you’ll want to get a professional equity assessment from a tru...