Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them.
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 net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant.
Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023. That led to a lot of fear and questions about whether there was going to be a repeat of the housing crash that happened back in 2008. But the headlines got it wrong.
The recent collapse of Silicon Valley and Signature banks sent shockwaves through the financial sector, causing a ripple effect through the economy.
While the situation has been challenging, there’s also been a silver lining in real estate:
Mortgage rates are down.
Read on for a summary of the situation, as well as what it means for homebuyers, sellers, and owners like you.
A lot has changed over the past year, and you might be wondering what’s in store for the Spring housing market. If you’re planning to sell your house this season, here’s what real estate experts are saying you should keep in mind.
We all dream about having our own home and not be compelled to
live in a rental. However if you’re just like most of today’s renters, you
most likely feel trapped in an apartment or condo that just doesn’t feel
comfortable and like your home. How could you feel at home in a place
where you’re not allowed to hang a painting on the wall ? Don’t you
feel stuck in a rut with literally no chance of getting out ? Well, you
shouldn’t. Believe it or not, there are ways to move out of a rental and
into your own home.
5 Questions to answer before purchasing your first home. Deciding whether to jump into the housing market or rent instead is rarely an easy decision – especially if you’re a first-time homebuyer. But in today’s whirlwind market, you may find it particularly challenging to pinpoint the best time to start exploring homeownership.