5 Ways Tax Reform Has Impacted the Housing Market

Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream. Now … Continued

Buyer Demand Still Outpacing the Supply of Homes for Sale

The price of any item is determined by the supply of that item, as well as market demand.¬†The¬†National Association of REALTORS¬†(NAR)¬†surveys¬†‚Äúover 50,000 real estate practitioners about their expectations for home sales, prices and market conditions‚Ä̬†for their monthly¬†REALTORS Confidence Index. Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic … Continued

Rising Mortgage Rates Do Not Lead to Falling Home Prices

Recently,¬†Freddie Mac¬†published an¬†Insight Report¬†titled¬†Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to … Continued

Are Home Values Really Overinflated?

Last week, the¬†National Association of Realtors¬†(NAR) released their most recent¬†Existing Home Sales Report.¬†According to the report: ‚ÄúThe median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300).¬†January‚Äôs price increase marks the 71st straight month of year-over-year gains.‚ÄĚ Seventy-one consecutive months of price increases may have some concerned … Continued

Homeownership Is Part Of The American Dream

According to the latest¬†Aspiring Home Buyers Profile¬†by the¬†National Association of Realtors¬†(NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream. The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing … Continued

Mortgage Interest Rates On Fire !

Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year. What impact will rising rates have on house values? Many quickly jump to the conclusion that an increase in mortgage rates will have a … Continued

Calm Down! The Real Estate Market is NOT Falling Apart

There has been tremendous volatility in certain markets over the last few weeks¬†(for example, the stock and currency markets). When this happens, some tend to lump all of their investments together and create an almost ‚ÄėArmageddon‚Äô scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in … Continued

Where Are Mortgage Interest Rates Headed in 2018?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using¬†Freddie Mac‚Äôs U.S. Economic … Continued

Bidding Wars Abound… How Long Will They Continue?

Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase. In many areas of the country, the¬†supply of homes for sale¬†in the starter and trade-up home markets is so low that bidding wars have ensued, and … Continued

U.S. Housing Inventory Crunch Continues… List Your House Today!

Every¬†winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes. Mortgage rates¬†hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW! At the same time, however, … Continued

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