Existing Home Sales Reach Highest Annual Pace in 11 Years
Some Highlights:
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Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006.
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The inventory of existing homes for sale has dropped year-over-year for the last 30 consecutive months and is now at a 3.4-month supply.
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NAR’s Chief Economist Lawrence Yun had this to say: “Faster economic growth in recent quarters, the booming stock market and continuous job gains are fueling substantial demand for buying a home as 2017 comes to an end.”
People Are Still Moving, Even with Today’s Affordability Challenges
It’s true that buying a home has become more expensive over the past couple of years, but people are still moving.
The Latest 2024 Housing Market Forecast
The housing market is expected to be more active in 2024 and that may be in part because there will always be people whose lives change and need to move.
Thinking About Using Your 401(k) To Buy a Home?
Before you decide to dip into your retirement to buy a home, be sure to consider all possible alternatives and talk with a financial expert.
Homeowner Net Worth Has Skyrocketed
Buying a home can be a great way to grow your net worth, since home values have a tendency to rise over time, meaning you have more equity.
Reasons To Sell Your House Before the New Year
Selling now, while other homeowners may hold off until after the holidays, can help you get a leg up on your competition.
Don’t Believe Everything You Read About Home Prices
If you believe home prices are falling, it may be time to get your insights from the experts, and they’re saying prices are climbing.
Foreclosures and Bankruptcies Won’t Crash the Housing Market
Foreclosure filings are inching back up to pre-pandemic numbers, BUT they’re still way lower than when the housing market crashed in 2008.
Affordable Homeownership Strategies for Gen Z
One of your best resources on the journey as a young homebuyer is a trusted real estate agent.
The Perks of Selling Your House When Inventory Is Low
Buyers have fewer choices now than they did in more typical years. And that’s why you could see some great perks if you sell today.
Why Home Prices Keep Going Up
Even though higher mortgage rates has caused buyer demand to moderate, home prices are going back up is because there still aren’t enough homes for sale for all the people who want to buy them.