Found 372 blog entries tagged as For Buyers.

With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down.

Election Years Bring a Temporary Slowdown

In any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG, in election years there’s usually a slightly larger dip in home sales in the month leading up to Election Day (see graph below):

a graph of a person with an orange squareWhy? Uncertainty. Many consumers hold off on making major decisions or purchases while they wait to see how the election will play out. It’s a pattern that’s shown up time and time again, and it's particularly apparent for buyers and sellers in the housing market.

This year is no different. A…

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Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from. So, know that if you’ve got moving on your mind, your house can really stand out.

There are several key reasons why there aren’t enough homes to go around and understanding them will help you see why the market is working in your favor if you’re ready to make a move.

What’s Causing the Shortage?

1. Underproduction of Homes: For years, the industry hasn’t built enough homes to keep up with demand. As Zillow explains:

“In 2022, 1.4 million homes were built — at the time, the best year for home construction since the early stages of the Great Recession. However, the number of U.S. families…

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a screenshot of a cell phone

Some Highlights

  • There are a number of scary myths about homebuying in today’s market. Here’s what you need to know.
  • Prices are not expected to crash, it is possible to buy even with student loan debt, and there are programs that can help you save for a down payment.
  • Don’t let scary myths delay your homebuying plans. Let's connect so you have a pro to help you separate the facts from your fears.

Originally posted at Simplifying The Market.

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Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.

Whether you're thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.

Mortgage Rates Are Forecast To Come Down

One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease slightly throughout the course of 2025 (see graph below):

a graph showing the rate of a forecastWhile that decline won’t be a straight line down, the overall trend should continue over the next year.…

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a house with a blue sky and clouds

Some Highlights

  • You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise.
  • Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time.
  • So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.

Originally posted at Simplifying The Market.

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Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.

The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.

As the green circle in the graph below shows, the typical September decline in homes coming to the market didn’t happen – that number actually went up (see graph below):

a graph of a number of homesRalph McLaughlin, Senior Economist…

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Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.

According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):

a graph showing a green lineHere’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led to a big boost in equity for current homeowners like you. When you sell your house and move, you can take the equity that gives you and apply it toward a…

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For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyers away from what may be one of their best options in today’s housing market. As Builder Online says:

“As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.”

So, is there any merit to the myth? Let’s break down the best way to make sure you feel good about looking into new home construction. That way, you’re not missing out on such a great option today.

Choosing the…

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If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhome. These types of homes often come with a lower barrier to entry – and that can help you start to build equity and enjoy the benefits of owning a home sooner.

Since they're usually smaller than single-family homes, they can be easier on your wallet. While it’s not always the case, smaller square footage usually comes with a smaller price tag too. As a result, according to the latest data from Realtor.com, condos typically have a lower asking price than single-family homes (see graph below):

a screenshot of a graphAnd here’s some exciting news: builders are focusing more on homes like these. The National…

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Are you considering buying a home in one of Illinois’ fastest-growing communities? If so, Pingree Grove IL should be on your radar. Known for its recent boom, this village offers a unique blend of modern housing, excellent schools, and a family-friendly atmosphere. But with all its rapid development, there are both advantages and challenges to living in this up-and-coming area.

In this article, we’ll explore the benefits and potential drawbacks of moving to Pingree Grove, helping you determine if this fast-growing community is the right fit for you.

Why Pingree Grove IL is the Place to Be

One of the most striking things about Pingree Grove is that 97.7% of its homes were built after 1999. This makes it one of the newest villages in the…

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