Housing Market Updates Archives - Page 2 of 6 - Joe Fernald

Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn’t as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal. The graph below uses data from Realtor.com to tell the story of median days

Foreclosure Activity Is Still Lower than the Norm

January 31, 2024

Foreclosures, Housing Market Updates

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Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story. The truth is, if you compare the current numbers with what usually happens in the market,

Will a Silver Tsunami Change the 2024 Housing Market?

January 29, 2024

Demographics, Housing Market Updates

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Have you ever heard the term “Silver Tsunami” and wondered what it’s all about? If so, that might be because there’s been lot of talk about it online recently. Let’s dive into what it is and why it won’t drastically impact the housing market. What Does Silver Tsunami Mean? A recent article from HousingWire calls

Are More Homeowners Selling as Mortgage Rates Come Down?

January 25, 2024

Buying Myths, For Buyers, Housing Market Updates, Move-Up Buyers

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If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale. The Mortgage Rate Lock-In Effect Over the past year, one factor that’s really

Experts Project Home Prices Will Increase in 2024

January 24, 2024

First Time Home Buyers, For Buyers, Housing Market Updates, Pricing

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Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear,

2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers

January 18, 2024

For Sellers, Housing Market Updates, Selling Myths

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If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now (see graph below):

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Home Prices Forecast To Climb over the Next 5 Years [INFOGRAPHIC]

January 12, 2024

Buying Myths, For Buyers, Housing Market Updates, Infographics, Pricing, Rent vs. Buy

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Some Highlights If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028. Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years. If you’re worried

Thinking About Buying a Home? Ask Yourself These Questions

January 3, 2024

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing

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If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, the list goes on and on. Most likely, home prices and

Why Mortgage Rates Could Continue To Decline

December 20, 2023

Housing Market Updates, Interest Rates

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When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here’s what you need to know. The Federal Funds Rate Hikes Have Stalled One of the Fed’s primary

Expert Quotes on the 2024 Housing Market Forecast

December 19, 2023

For Buyers, For Sellers, Housing Market Updates

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If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market in 2024. In 2023, higher mortgage rates, confusion over home price headlines, and a lack of homes for sale created some challenges for buyers and sellers looking to make a move. But