When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something different on the news, and read something on social media that contradicts both thoughts. And, if you’re thinking about making a move, that can leave you with many lingering questions. That’s where The Aaronson Group comes in.
Here are the top 3 questions people are asking about today’s housing market and the data to help answer them.
1. What’s next for mortgage rates?
Mortgage rates are higher than they’ve been in recent years. And, if you’re looking to buy a home, that impacts how much you can afford. Many buyers want to know what’s ahead for mortgage rates. The
Your equity grows as you pay down your home loan and prices increase. With home prices rising again, your equity is getting an extra boost.
Almost half of homeowners are equity-rich because they have at least 50% equity. If you’ve been in your home for a while, you might have also gained a considerable amount of equity.
Want to find out how much equity you have? Contact The Aaronson Group. Call 949-388-5194 Email: info@previewochomes.com
Even with so much data showing home prices are rising in most of the country, many people still worry there will be another price crash in the immediate future. A recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people dealing with that fear – maybe you’re one of them. To help ease that concern, here’s what the experts say will happen with home prices not just next year but over the next five years.
Experts project ongoing appreciation
While seeing a handful of expert opinions may not be enough to change your mind, a larger group of experts will reassure you. Here’s that larger group. The home price expectation survey (HPES) from Pulsenomics is a great resource
If you’re feeling a bit muddy about home prices, that’s no surprise. Some people still say prices are falling, even though data proves otherwise. Part of that misconception is that people get their information from unreliable sources. But it’s also coming from some media coverage misrepresenting the data. So, to keep things simple, here’s what you need to know using accurate data you can trust.
Normal home price seasonality explained
In the housing market, predictable ebbs and flows happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically intense in the summer but begins to wane as the cooler months approach. Home prices follow along with seasonality because
The new year is approaching, and you might wonder if 2024 will be the right time to buy or sell a home. To make the most informed decision possible, it's essential to know what the experts say about what's ahead for the housing market. Spoiler alert: the projections may be better than you think. Here's why.
Experts Forecast Ongoing Home Price Appreciation
Take a look at the latest home price forecasts from Fannie Mae, the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR):
As you can see in the orange bars on the left, on average, experts forecast prices will end this year up about 2.8% overall and increase by another 1.5% by the end of 2024. That's big news, considering many people thought prices
If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.
Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on.
Home prices aren’t falling. They’re just rising slower and going back to normal seasonal trends. That’s a good thing. If you're curious about prices in your area, reach out to The Aaronson Group for answers. Call 949-388-5194 or email info@previewochomes.com
According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months. But why do roughly 1 in 4 people feel that way?
It has much to do with all the negative talk about home prices over the past year. Since late 2022, the media has created a lot of fear about a price crash, and those concerns remain lingering. You may be hearing people in your own life saying they’re worried about home prices or see on social media that some influencers are saying prices will come tumbling down.
If you’re someone who still thinks prices are going to fall, ask yourself this: Which is a more reliable place to get your information – clickbait headlines and social media or a trusted expert on the
If you've been following the news recently, you might have seen articles about increased foreclosures and bankruptcies. That could make you feel uneasy, especially if you're thinking about buying or selling a house.
But the truth is, even though the numbers are going up, the data shows the housing market isn't headed for a crisis.
Foreclosure Activity Rising, but Less Than Headlines Suggest
In recent years, the number of foreclosures has been deficient. That's because, in 2020 and 2021, the government put the forbearance program, and other relief options were put in place to help many homeowners stay in their homes during that tough time.
When the moratorium ended, there was an expected rise in foreclosures. But just because they're
When selling your house, you’re probably juggling the current market conditions and your needs as you plan your move.
One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current inventory situation and its meaning.
The Supply of Homes for Sale Is Far Below the Norm
When you’re selling something, it helps if what you’re selling is in demand but is also in low supply. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the housing market today. More buyers are looking to buy than there are homes for sale.
Here’s the latest information on active listings, or homes available for sale to tell the story
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