Monday, August 28, 2023 / by Kenneth Brands
Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.
The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.
It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked in the first half of each year (during the peak homebuying season in the spring) and slowed as each year came to a close.
When the pandemic hit in March of 2020, that trend was disrupted as the market responded to the resulting uncertainty (shown in blue in the middle). From there, we entered the ‘unicorn’ years of housing (sho. ...
Monday, August 21, 2023 / by Kenneth Brands
If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make.
While housing market conditions are definitely a factor in your decision, your own life and your finances may be even more important. As an article from NerdWallet says:
“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation, life goals and readiness to become a homeowner.”
Instead of trying to time the market, it may help to focus on what you can control. Here are a few questions that can give you clarity on whether you’re ready to make your move.
1. Do You Have a Stable Job?
One thing to cons. ...
Wednesday, August 16, 2023 / by Kenneth Brands
When you read about the housing market in the news, you might see something about a recent decision made by the Federal Reserve (the Fed). But how does this decision affect you and your plans to buy a home? Here's what you need to know.
The Fed is trying hard to reduce inflation. And even though there’s been 12 straight months where inflation has cooled (see graph below), the most recent data shows it’s still higher than the Fed’s target of 2%:
While you may have been hoping the Fed would stop their hikes since they’re making progress on their goal of bringing down inflation, they don’t want to stop too soon, and risk inflation climbing back up as a result. Because of this, the Fed decided to increase the Federal Funds Rate again last week. As Jerome Powell, Chairman of the Fed, says:
“We remain committed to bringing inflation back to our 2 percent goal and to keeping longer-term inflation. ...
Monday, August 14, 2023 / by Kenneth Brands
Plenty of people are still moving these days. And if you’re thinking of making a move yourself, you may be considering the inventory and affordability challenges in the housing market and wondering what you can do to help offset those. A new report from Gravy Analytics provides insight into where people are searching for homes and what they’re prioritizing most right now. That information could help you plan your own move.
1. People Are Moving to Cities with Lower Housing Costs
One big factor motivating where buyers are going is affordability and that’s no big surprise. People are relocating to areas that have less expensive housing options. As a result, small cities are thriving. Hannah Jones, Economics Data Analyst at Realtor.com, summarizes why:
“Affordability is still very much front and center . . . a lot of what’s available is outside of the price range of many buyers. . . .. ...
Friday, June 16, 2023 / by Kenneth Brands
Dallas-Fort Worth, the vibrant heart of North Texas, offers a unique and bustling residential real estate market. From the urban flair of Dallas to the tranquility of Fort Worth suburbs, the area presents a variety of opportunities and challenges for home buyers and sellers.
Dallas-Fort Worth Real Estate: Opportunities
The Dallas-Fort Worth real estate market thrives on the region's continued population growth, spurred by a thriving job market and a business-friendly environment. The consequent demand for housing creates a lucrative seller's market. Hot properties in high-demand neighborhoods such as Frisco and Plano often ignite bidding wars and earn above-asking prices.
Furthermore, new home construction in Dallas-Fort Worth is on the rise. Whether it's cutting-edge smart homes in Prosper or affordable single-family homes in burgeoning areas like Oak Cliff, the variety of choices for potential homebuyers in Dallas-Fort Worth is vast.
Dallas-Fort Worth Housing Market: Challenges ...