You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that there is a symbiotic connection between equity and home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Equity can be defined as the amount of money the owner of an asset would be paid after selling it. Continue Reading
If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a vital part of your decision on what you’ll buy next, it’s essential not to lose sight of the reason you want to make a change in the first place. Its actual mortgage rates have climbed from the record lows we saw in recent years, Continue Reading
Media coverage about what’s happening with home prices can be confusing. Much of that is due to the type of data being used and what they choose to draw attention to. For home prices, two different methods are used to compare home prices over different time periods: year-over-year (Y-O-Y) and month-over-month (M-O-M). Here's an explanation of each. Year-over-Year (Y-O-Y): This Continue Reading
Key Takeaway Comparing housing market metrics from one year to another can be challenging in a regular housing market – and the last few years have been anything but ordinary. In a way, they were ‘unicorn’ years. Expect unsettling housing market headlines this year, primarily due to unfair comparisons with the ‘unicorn’ years. Let’s connect so I can share the data that puts those Continue Reading
The real estate market is one of our lifetime's most foundationally strong housing markets – if not the most robust. When you look at the numbers today, the one thing that stands out is the strength of this housing market. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing Mortgages First, let’s look at the current rate on existing mortgages. Continue Reading
Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: Why Are Mortgage Rates So High? When Will Rates Go Back Down? Here’s the context you need to help answer those Continue Reading
Key Takeaway Owning a Home provides a sense of accomplishment, a sanctuary for family and friends to build memories, financial stability, and an investment vehicle to grow your assets and net worth. June is National Homeownership Month, and it’s a perfect time to consider all the benefits of owning your home. Homeownership makes you feel proud and accomplished, but it’s also a big step Continue Reading
Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides. Of course, there are financial reasons to buy a house, but it’s important to consider the non-financial benefits that make a home more than just where Continue Reading
Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market, making the comparison less meaningful or accurate. Unpredictable events can significantly impact the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is Continue Reading
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