Real Estate, Expert Advisors

The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now.

Here’s what industry experts are saying right now about the spring housing market and what it means for you:

𝙎𝙚𝙡𝙢𝙖 𝙃𝙚𝙥𝙥, 𝘾𝙝𝙞𝙚𝙛 𝙀𝙘𝙤𝙣𝙤𝙢𝙞𝙨𝙩, 𝘾𝙤𝙧𝙚𝙇𝙤𝙜𝙞𝙘:
“We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when relatively more migration happens, as people graduate and move elsewhere looking for jobs.”

𝙂𝙧𝙚𝙜 𝙈𝙘𝘽𝙧𝙞𝙙𝙚, 𝘾𝙝𝙞𝙚𝙛 𝙁𝙞𝙣𝙖𝙣𝙘𝙞𝙖𝙡 𝘼𝙣𝙖𝙡𝙮𝙨𝙩, 𝘽𝙖𝙣𝙠𝙧𝙖𝙩𝙚:
“I don’t expect big moves in prices in the span of a month, but like the flower buds of spring, the housing market is showing signs of improvement. A pick up in activity with inventory still low does bode well for home prices.”

𝙍𝙞𝙘𝙠 𝙎𝙝𝙖𝙧𝙜𝙖, 𝙁𝙤𝙪𝙣𝙙𝙚𝙧 𝙖𝙣𝙙 𝘾𝙀𝙊, 𝘾𝙅 𝙋𝙖𝙩𝙧𝙞𝙘𝙠 𝘾𝙤𝙢𝙥𝙖𝙣𝙮:
“If you can find a home you love and can afford at today’s prices, don’t wait. Home prices in most of the country are unlikely to crash, and mortgage rates will only come down very gradually if they decline at all this year.”

Learn More:
https://michaelskafas.exprealty.com/blog/174255/Curious+what+the+Experts+have+to+say+about+the+Spring+real+estate+market%3F

Could a Multigenerational Home Be the Right Fit for You?

During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):

“Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.”

And citing data from Pew Research Center, the Wall Street Journal (WSJ) says:

“. . . multigenerational living has made a comeback in recent years, particularly after the 2008 financial crisis and during the pandemic.”

So, if buying a multigenerational home has crossed your mind, you aren’t alone...

www.ReExpertAdvisor.com

Could a Multigenerational Home Be the Right Fit for You? During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. 

What You Should Know About Rising Mortgage Rates

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. If you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.

The recent uptick in rates has been driven by what’s happening with inflation. Joel Kan, Vice President and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains:

“Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Reserve to keep monetary policy restrictive for a longer time.”

>>Advice for Home Shoppers

If you’re thinking about pausing your home search...

www.ReExpertAdvisor.com

What You Should Know About Rising Mortgage Rates After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too m...