Housing Market Updates Archives - Page 4 of 6 - Joe Fernald

20231116-People-Are-Still-Moving-Even-With-Todays-Affordability-Challenges

If you’re thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are rising. That much is true. Take a look at the graph below. It breaks down how the current affordability situation

The Latest 2024 Housing Market Forecast

November 16, 2023

For Buyers, For Sellers, Housing Market Updates, Pricing

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The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home. If you want to make the most informed decision possible, it’s important to know what the experts have to say about what’s ahead for the housing market. Spoiler alert:

20231114-Home-Prices-Keep-Climbing-in-Most-Markets

These Top Cities Show Home Prices Are Still Climbing

November 15, 2023

For Buyers, For Sellers, Housing Market Updates, Pricing

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If you’re considering buying a home or selling your current one to find something that better suits your needs, you may have questions about what’s happening with home prices today. Here’s what you need to know. There’s still a lot of confusion and misinformation out there. So, no matter what you may have heard, the

Don’t Believe Everything You Read About Home Prices

November 7, 2023

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

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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 a lot to do with all the negative talk about home prices over the past year. Since late 2022,

Homeowner Net Worth Has Skyrocketed

November 7, 2023

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy

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If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in

What Past Recessions Tell Us About the Housing Market

January 16, 2023

For Buyers, For Sellers, Housing Market Updates

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It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie

Is It Time To Sell Your Second Home?

January 12, 2023

For Sellers, Housing Market Updates, Luxury Market

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During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent

The Real Reason Home Prices are Increasing

November 30, 2017

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

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There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are

Existing Home Sales Slowed by a Lack of Listings [INFOGRAPHIC]

November 25, 2017

For Buyers, For Sellers, Housing Market Updates, Infographics, Move-Up Buyers

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Some Highlights: The inventory of existing homes for sale has dropped year-over-year for the last 29 consecutive months and is now at a 3.9-month supply. Existing home sales are currently at an annual pace of 5.48 million, the highest pace since June of this year, but down 0.9% from October 2016. NAR’s Chief Economist, Lawrence

Bubble Alert! Is it Getting Too Easy to Get a Mortgage?

November 23, 2017

Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

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There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year: More buyers