Are you thinking about making a move? If so, all the speculation that home prices would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren’t in a downward spiral and will actually finish the year strong.Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn’t happened. The big reason why is the supply of homes for sale is too low. There are just more buyers looking to buy than homes available, and that’s kept prices from falling.To prove this year wasn’t a bust for home prices, let’s look at the latest 2023 forecast from a number of experts.Most Experts Project Home Prices Will Net Positive this YearThe general consensus from industry experts is that home price appreciation will actually be positive for 2023. The graph below shows the latest 2023 year-end forecasts from six different organizations:As you can see, all but one project nationally prices will net positive this year. That’s significant because it shows the majority are optimistic about home price growth.If you’re still worried about the one red bar that shows an overall price drop for the year, think about this. The projection from the National Association of Realtors (NAR) is for only a slight decline. It’s not the big crash all the headlines called for. Plus, if you average all six forecasts together, the expectation is that prices will net somewhere around 3.3% positive growth for the year.If these 6 organizations aren’t enough to convince you that prices won’t come tumbling down, here’s something else to consider. One of the six forecasts represented in the graph is the Home Price Expectation Survey (HPES) from Pulsenomics. It combines survey results from over 100 economists, investment strategists, and housing market analysts. The HPES found that the average from all 100 of those experts is 3.3% price growth for the year.If you look back at the graph above, you’ll notice the blue average for the forecasts in this graph is also 3.3%. While individual forecasts may vary, both the HPES survey and the average of these forecasts provide the same projection. And 3.3% appreciation is a completely different story than prices falling.Bottom LineIf you’re worried about home prices falling this year, let the experts reassure you. Based on the average of the latest forecasts, home prices will actually show positive growth this year. If you have questions about what’s happening with home prices in your area, connect with a real estate agent.

Selling your house is a big decision. And that can make it feel both exciting and a little bit nerve-wracking. But the key to a successful sale is finding the perfect listing agent to work with you throughout the process. A listing agent, also known as a seller's agent, helps market and sell your house while advocating for you every step of the way. But, how do you know you've found the perfect match in an agent? Here are three key skills you’ll want your listing agent to have.They Price Your House Based on the Latest DataWhile it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your house can have consequences. It could mean it’ll sit on the market longer because the higher price is actually deterring buyers. Instead, you want to pick an agent who’s going to have an open conversation about how they think you should price your house and why. A great agent will base their pricing strategy on solid data. They won't throw out a number just to win your listing. Instead, they'll show you the facts, explain their pricing strategy, and make sure you're on the same page. As NerdWallet explains:“An agent who recommends the highest price isn't always the best choice. Choose an agent who backs up the recommendation with market knowledge.”They’re a Great NegotiatorThe home-selling process can be emotional, especially if you’ve been in your house for a long time. You’re connected to it and have a lot of memories there. This can make the negotiation process harder. That’s where a trusted professional comes in. A skilled listing agent will be calm under pressure and will be your point-person in all of those conversations. Their experience in handling the back-and-forth gives you with the peace of mind that you've got someone on your side who’s got your best interests in mind throughout this journey. They’re a Skilled Problem SolverAt the heart of it all, a listing agent's main priority is to get your house sold. A great agent never loses sight of that goal and will help you prioritize your needs above all else. If they identify any necessary steps you need to take, they’ll be open with you about it. Their commitment to your success means they'll work with you to address any potential roadblocks and find creative solutions to anything that pops up along the way.BankRate explains it like this: “Just as important as the knowledge and experience agents bring is their ability to guide you smoothly through the process. Above all, go with an agent you trust and will feel comfortable with. . .”Bottom LineWhether you're a first-time seller or you’ve been through selling a house before, a great listing agent is the key to success. Connect with a real estate professional so you have a skilled local expert by your side to guide you through every step of the process.

Some HighlightsIf you’re thinking about buying a home this year, be sure to consider the long-term financial advantages of homeownership, like home equity.On average, people who bought homes 32 years ago have seen their home’s value nearly triple over that time. If you’re wondering if buying a home is a good idea, remember rising home values could grow your net worth with time. When you’re ready to start your homebuying journey, talk with a local real estate professional.

During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023. The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. All of this negative news coverage made a lot of people have doubts about the strength of the residential real estate market.If it made you question if you should delay your own plans to move, here’s what you really need to know.Home Prices Never CrashedDisregard what you saw in the headlines. The actual data shows home prices were remarkably resilient and performed far better than the media would have you believe (see graph below):This graph uses reports from three trusted sources to clearly illustrate prices have already rebounded after experiencing only slight declines nationally. That’s a far cry from the crash so many articles called for.The declines that did happen (shown in red), weren’t drastic but were short-lived. As Nicole Friedman, a reporter at the Wall Street Journal (WSJ), says:“Home prices aren’t falling anymore. . . The surprisingly quick recovery suggests that the residential real-estate downturn is turning out to be shorter and shallower than many housing economists expected . . .”Even though some media coverage made a big deal about home prices pulling back, the slight correction that happened is already in the rearview mirror. Basically, this data shows you home prices aren’t falling anymore – they’re actually going back up.What’s Next for Home Prices?The consensus from experts is that home price growth will continue in the years ahead and is returning to normal levels for the market. That means we’ll still see home prices appreciating, just at a slower pace than the last few years – and that’s a good thing.Some news sources will see home price growth slowing and put out stories that make you think prices are falling again. The return of misleading headlines like those is already having an impact on how homebuyers are feeling again. You can see how this affects general opinion in the Consumer Confidence Survey from Fannie Mae (see graph below):  While the percentage of Americans who think prices will fall has been slowly declining this year, the latest Consumer Confidence data indicates that’s ticked back up recently (shown in red). This change is surprising especially since the home price data shows prices are going up, not down. It tells you the impact the media still has on public opinion.Don’t fall for the negative headlines and become part of this statistic. Remember, data from a number of sources shows home prices aren’t falling anymore.Bottom LineEven though the media may make things sound doom and gloom, the data shows home prices aren’t falling anymore. So, don’t let the headlines scare you or delay your plans. Lean on a real estate professional so you have a trusted resource to cut through the noise and tell you what’s really happening in your area.

Some HighlightsWondering why the supply of homes for sale is limited today? There are a few factors at play.Lack of building over time, the mortgage rate lock-in effect, and people staying in their houses longer are three of the main reasons why supply is low.But real estate agents know exactly where to look and what to do to make your dream a reality. Connect with an agent so you have an expert on your side to help you successfully navigate the market and find your next home. 

If your listing expired and your house didn’t sell, you’re likely feeling a little frustrated. Not to mention, you're also probably wondering what went wrong. Here are three questions to think about as you figure out what to do next.Did You Limit Access to Your House?One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is important when you're selling your house, even though it might feel a bit stressful to drop everything and leave when buyers want to see it. After all, minimal access means minimal exposure to buyers. ShowingTime advises:“. . . do your best to be as flexible as possible when granting access to your house for showings.”Sometimes, the most determined buyers might come from far away. Since they're traveling to see your house, they may not be able to change their plans easily if you only offer limited times for showings. So, try to make your house available as much as you can to accommodate them. It’s simple. If no one’s able to look at it, how’s it going to sell?Did You Make Your House Stand Out?When selling your house, the old saying matters: you never get a second chance to make a first impression. Putting in the work to make the exterior of your home look nice is just as important as how you stage it inside. Freshen up your landscaping to improve your home’s curb appeal so you can make an impact upfront. As an article from U.S. News says:“After all, if people drive by, but aren’t interested enough to walk through the front door, you’ll never sell your house.”But don’t let that impact stop at the front door. By removing personal items and reducing clutter inside, you give buyers more freedom to picture themselves in the home. Additionally, a new coat of paint or cleaning the floors can go a long way to freshening up a room.Did You Price Your House Compellingly?Setting the right price is extremely important when you're selling your house. Even though it might feel tempting to push the price higher to maximize your profit, overpricing can scare away buyers and make it hard to sell quickly. Business Insider notes:“. . . the biggest mistake sellers make is overpricing their home.”If your house is priced higher than others like it, it could make buyers lose interest. Pay attention to the feedback people give your agent during open houses and showings. If lots of people are saying the same thing, it might be a good idea to think about lowering the price.For all these insights and more, rely on a trusted real estate agent. A great agent will offer expert advice on relisting your house with effective strategies to get it sold.Bottom LineIt’s natural to feel disappointed when your listing has expired and your house didn’t sell. Talk to a trusted real estate agent to figure out what happened and what to reconsider or change if you want to get your house back on the market.

Real estate agents provide an array of services that help clients buy or sell properties. Their roles include conducting market research and analysis to determine the right price for the property. They also help promote the property and secure a favorable sale or purchase agreement. However, not all work real estate agents do results in payment. Some of the services they offer are ‘no pay’ tasks but are critical for ensuring transactions progress smoothly. Real Estate agents ONLY get paid after a property closes. In this blog, we explore some of the work that real estate agents do but do not get paid for.    Showing Homes & Writing offers Believe it or not, most real estate agents do not get paid for showing homes. The average buyer visits 8-12 homes over a 10-week period before they find "the one". That number can vary quite a bit. I've had a buyer purchase the first home they looked at, while I've spent months looking at over 40 homes with other home buyers. Eventually, we find the (almost) perfect home and write up an offer. In a Seller's Market like the one we are currently in (2023), an agent may write up several offers for a buyer client before they get one that is accepted. What about the buyer who puts in several offers that all get rejected and then decides that they want to give up and stop their home search? No pay for the agent.Advice on Property RenovationAn essential service real estate agents offer is advising clients on renovation projects. They advise on the best remodeling projects that add value to the property, as well as those that do not. They inform clients of the latest trends in property updating and what buyers in the area are looking for. This service is essential to clients looking to renovate their property before selling it. It helps them net higher returns on investment and improve the chances of finding buyers. No pay for the agent until they get to the closing table.Client Relationship Management (CRM)Client relationship management is an integral part of real estate agents’ work, but it is not a paid-for service. It involves nurturing relationships with clients who may not be ready to buy or sell property yet. This service requires constant communication with clients, keeping them abreast of the latest market trends and property listings. Real estate agents have to be experts in their field, and knowledgeable on the local property market and changing economic trends. They have to provide valuable information that keeps clients engaged. Building lasting relationships is critical because they may drive more business in the future. But there is no pay for the agent until they get to the closing table.Working on Deals that Fall ThroughReal estate agents spend countless hours working on deals that end up falling through. It could be that a buyer cannot secure a mortgage or that a seller had a change of heart about selling their property. Unfortunately, this work does not result in payment, even though it is an essential part of the job. Real estate agents often have to deal with tense situations, including managing client’s expectations, handling difficult negotiation talks, and keeping clients motivated. They sometimes have to work double, trying to secure another deal. But there is no pay for the agent until they get to the closing table.Marketing PropertiesMarketing properties is part of a real estate agent’s job. However, not all promotional activities result in payment. For instance, an agent may create a YouTube video to highlight a property, but it may not lead to an immediate sale. Additionally, some marketing initiatives, such as running open houses, staging homes, custom property websites & signage, hiring a professional photographer, and having photographs edited, require money upfront running into hundreds, if not thousands, of dollars. Therefore, if the client decides not to sell and pulls their home off the market, real estate agents do not get reimbursed for the costs incurred during the listing period.Real estate agents deliver a wide array of essential services to their clients. However, not all their work results in pay. They advise clients on renovation projects, manage relationships with clients, manage deals that fall through, and market properties. These are among the critical services that real estate agents deliver without immediate reimbursement. Nevertheless, they help them develop invaluable experience and knowledge of the market, which often translates to success and repeat business.   Jim Armstrong Broker/CEO Armstrong Field Real Estate

Some HighlightsHolding off on selling your house because you believe there aren’t any buyers out there?Data shows buyers are still active, even with higher mortgage rates. This goes to show, people still want to buy homes, and those who can are moving now.Don’t delay your plan to sell for fear no one is buying. The opposite is true and buyer traffic is still strong today. Connect with a real estate agent to get your house in front of these buyers.

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest consideration boils down to this – will you buy your next home or choose to rent instead?That decision ultimately depends on your current situation and your future plans. Here are two important factors to help you decide what’s right for you.Expect Rents to Keep Going UpThe graph below uses data from the Census to show how rents have been climbing steadily since 1988:Rents have been going up consistently over the long run. If you choose to rent, there’s a risk your rental payment will go up each time you renew your lease. Having a higher rental expense may not be something you want to deal with every year.When you buy a home with a fixed-rate mortgage, it helps stabilize your monthly housing payment. This allows you to lock in your monthly payment for the duration of your home loan. That keeps your payments steady and predictable for the long haul. Freddie Mac sums it up like this:“. . . homeowners with fixed-rate loans will see little to no change to their monthly housing cost over the life of their loan. You can be confident in knowing that your mortgage payments won’t change much in the long term, even when life’s other costs do.”Owning Your Home Comes with Unique BenefitsAccording to AARP, buying your next home is a better long-term strategy than renting:“Though each option has pros and cons, buying provides more pros, with a broader range of benefits.”To help you choose what you’ll do after you sell, here are just a few of the benefits of homeownership that article covers:Owning your home can help you save money for the future. Your home, and the equity you build as a homeowner, can provide generational wealth that could be passed on to loved ones, giving them a better life.You might not have to pay a monthly mortgage payment at all. If you have enough equity to buy your next home outright, you wouldn’t have a monthly mortgage payment. While you might still need to cover property taxes or maintenance fees, not having to worry about a monthly mortgage payment could be a big relief.Aging in place can be simpler. If your needs change, owning your home gives you the freedom to make renovations and updates that can make everyday life easier.Bottom LineIf you're a baby boomer who’s wondering whether you should buy or rent your next home, talk to a reliable real estate agent for advice. With rents going up and homeownership providing so many benefits, it may make sense to consider buying your next home.

Sellers often have one question on their mind when it comes to selling their home: "What is my home really worth?" Determining the true market value of a home can be a complex process that involves analyzing a variety of factors, including the location of the home, the condition of the property, and recent sales data in the area. One of the most important factors to consider when determining the value of a home is the current market conditions. A seller's market (which we are currently in), where there are more buyers than available homes for sale, can drive up the value of a property. On the other hand, a buyer's market, where there are more homes for sale than buyers, can lead to lower values. Another key factor to consider is the condition of the property. A well-maintained home that is move-in ready is likely to be more valuable than a home that is in need of repairs or renovations. Other factors that can impact the value of a home include the size of the property, the age of the home, and the quality of the neighborhood. To determine the true market value of a home, it's important to work with a professional real estate agent who has experience in the local market. An agent can provide a comparative market analysis (CMA) that takes into account recent sales data for similar properties in the area. This information can help sellers understand what buyers are willing to pay for homes in the current market. It's also important to keep in mind that the true market value of a home may not always match up with a seller's expectations. While sellers may have an emotional attachment to their home and believe it is worth more than its true market value, it's important to price the property appropriately in order to attract potential buyers and sell the home quickly. Overall, determining the true market value of a home requires a careful analysis of a variety of factors. By working with a professional real estate agent and taking into account current market conditions and recent sales data, sellers can gain a better understanding of what their home is really worth. Find out what your home is worth instantly- Click HERE. www.armstrongfield.com Jim Armstrong - Broker/Pwner  

If you're planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.Experts Project Ongoing AppreciationPulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts saying home prices will go up every year through 2027 (see graph below):If you’re someone who was worried home prices would fall because of stories you’ve read online, here's the big takeaway. Even though home prices vary by local market, experts project prices will continue to rise across the country for years to come. And these numbers indicate the return to more normal home price appreciation. And while the projected increase in 2024 isn’t as large as 2023, it’s important to recognize home price appreciation is cumulative. In other words, if these experts are correct, after your home’s value rises by 3.32% this year, it’ll appreciate by another 2.17% next year. This is a good example of why owning a home is a choice that wins big over time.What Does This Mean for You?Once you buy a home, price appreciation raises your home’s value, and that grows your household wealth. To see how a typical home's value could change in the next few years using the expert projections from the HPES, check out the graph below:In this example, let’s say you bought a $400,000 home at the beginning of this year. If you factor in the forecast from the HPES, you could potentially accumulate more than $71,000 in household wealth over the next five years.So, if you're thinking about whether buying a home is a good choice, remember how it can be a powerful way to grow your wealth in the long run. Bottom LineAccording to the experts, home prices are expected to grow over the next five years at a more normal pace. If you’re ready to become a homeowner, know that buying today can set you up for long-term success as home values (and your own net worth) grow. Connect with a local real estate agent to start the homebuying process today.

Selling a home and buying a new one can be a daunting task, especially when you want to do both at the same time. There are many things to consider such as timing, financing, and making sure that everything goes smoothly. In this blog post, we will explore some tips on how to sell and buy a home at the same time. If you are a seller who wants to use the equity in your current home to purchase a new one, you have a few options. One option is to sell your current home and use the proceeds to buy your new home. Another option is to use a home equity loan or line of credit to finance your new home. However, keep in mind that if you use a home equity loan or line of credit, you will have two mortgage payments to make and may have to pay higher interest rates. If you decide to sell your current home and use the equity to purchase a new one, there are a few things you should do to make the process smoother. First, you should work with a real estate agent who has experience with selling and buying homes at the same time. Your agent can help you determine the best time to list your home for sale and can also help you find a new home to purchase. Another way to make the process smoother is to use a bridge loan. A bridge loan is a short-term loan that allows you to borrow against the equity in your current home to finance the purchase of a new home. This type of loan can be helpful if you need to purchase a new home before selling your current one. If you decide to use a home equity loan or line of credit, it is important to make sure that you can afford both mortgage payments. You should also be aware that if you use a home equity loan or line of credit, you will be using your home as collateral, which means that if you do not make your payments, you could lose your home. Overall, selling and buying a home at the same time can be a stressful process, but with the help of a real estate agent and careful planning, it can be done successfully. If you are a seller who wants to use the equity in your current home to purchase a new one, make sure to explore all of your options and work with an experienced agent who can help you navigate the process.

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.While there was a slight home price correction after the sky-high price appreciation during the ‘unicorn’ years, nationally, home prices didn’t come crashing down. If anything, prices were a lot more resilient than many people expected.Let's take a look at some of the expert forecasts from late last year stacked against their most recent forecasts to show that even the experts recognize they were overly pessimistic.Expert Home Price Forecasts: Then and NowThis visual shows the 2023 home price forecasts from seven organizations. It provides the original 2023 forecasts (released in late 2022) for what would happen to home prices by the end of this year and their most recently revised 2023 forecasts (see chart below):As the red in the middle column shows, in all instances, their original forecast called for home prices to fall. But, if you look at the right column, you’ll see all experts have updated their projections for the year-end to show they expect prices to either be flat or have positive growth. That’s a significant change from the original negative numbers.There are a number of reasons why home prices are so resilient to falling. As Odeta Kushi, Deputy Chief Economist at First American, says:“One thing is for sure, having long-term, fixed-rate debt in the U.S. protects homeowners from payment shock, acts as an inflation hedge - your primary household expense doesn't change when inflation rises - and is a reason why home prices in the U.S. are downside sticky.”A Look Forward To Get Ahead of the Next HeadlinesFor home prices, you’re going to continue to see misleading media coverage in the months ahead. That’s because there’s seasonality to home price appreciation and they’re going to misunderstand that. Here’s what you need to know to get ahead of the next round of negative headlines.As activity in the housing market slows at the end of this year (as it typically does each year), home price growth will slow too. But, this doesn’t mean prices are falling – it’s just that they’re not increasing as quickly as they were when the market was in the peak homebuying season.Basically, deceleration of appreciation is not the same thing as home prices depreciating.Bottom LineThe headlines have an impact, even if they’re not true. While the media said home prices would fall significantly in their coverage at the end of last year, that didn’t happen. Connect with a real estate agent so you have a trusted resource to help you separate fact from fiction with reliable data.

Even though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller’s market because the supply of homes for sale is so low. But what does that really mean for you? And why are conditions today so good if you want to sell your house?The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Housing inventory is measured by the number of available homes on the market. It’s also measured by months’ supply, meaning the number of months it would take to sell all those available homes based on current demand. In a balanced market, there’s usually about a six-month supply. Today, we have only about 3 months’ supply of homes at the current sales pace (see graph below): As the visual shows, given the current inventory of homes, it’s still a seller's market.Today, we’re nowhere near what’s considered a balanced market. In fact, the current months’ supply is half of what’s typical of a normal market. That means there just aren’t enough homes to go around based on today’s buyer demand.As Lawrence Yun, Chief Economist for NAR, says:“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”How Does Being in a Seller’s Market Benefit You?Sellers, these conditions give you a real edge. Right now, there are buyers who are ready, willing, and able to purchase a home. And, because there's a shortage of homes up for sale, the ones that do hit the market are like magnets for those buyers.If you work with a local real estate agent to list your house right now, in good condition, and at the right price, it could get a lot of attention. You might even end up with multiple offers.Bottom LineToday’s seller’s market sets you up with a big advantage when you sell your house. Because supply is so low, your house will be in the spotlight for motivated buyers who are craving more options. Connect with a local real estate agent so you understand what’s happening in your area as you get ready to enter the market.

Some HighlightsYour equity grows as you pay down your home loan and as home prices increase. With home prices rising again, your equity is getting an extra boost.Almost half of homeowners are equity rich because they have at least 50% equity in their homes. If you’ve been in your home for a while, you might have gained a considerable amount of equity, too.Want to find out how much equity you have? Connect with a trusted real estate agent for a Professional Equity Assessment Report (PEAR).

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of year, it's clear buyers are still active. And, they’re actually a lot more active than the norm.If you’re wondering how this could possibly be true, it’s because buyers are getting used to higher mortgage rates and accepting them as the new reality. As Danielle Hale, Chief Economist, Realtor.com, explains:“Interest rate hikes continue to further cut into buyers' purchasing power, although they appear to have adapted to the higher mortgage rate environment . . .”It’s simple. Buyers will always need to buy, and those who can afford to move at today’s rates are going to do so.The Key Takeaway for YouWhile it’s true things have slowed down from the frenzy of the last couple of years, it doesn’t mean today’s market is at a standstill. The reality is: buyer traffic is still strong today. Even with today’s mortgage rates, plenty of buyers are still making their moves. So why delay your own move when there’s clearly a market for your house?Bottom LineDon’t put off your plans because you’re worried no one will buy your home. The opposite is true, and more buyers are more active than the norm. Connect with a real estate agent to get your house ready to sell, so it makes the best first impression possible on those eager buyers.

Even though you may feel reluctant to sell your house because you don’t want to take on a mortgage rate that’s higher than the one you have now, there’s more to consider. While the financial side of things does matter, your personal needs may actually matter just as much. As an article from Bankrate says:“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”So, ask yourself this: why did I want to move in the first place?Chances are your primary motivation wasn’t just financial in nature. Why you’re really thinking about selling likely has more to do with something changing in your life or a shift in what you need out of your house.Reasons Homeowners Still Need To Sell Today Let’s explore some of the most common reasons sellers are moving today. A recent article from Builder Online helps shed light on this. In this research, they identified the following categories:Marriage – If you just got married, you may find you either need more space than you currently have, or the two of you want to find a new place you picked out together.Divorce – If you’re getting separated or are divorcing your partner, chances are it’ll be difficult to live under the same roof. Selling the place you have, so you can own get your own spot, may be necessary.Births – If your household is growing, you may need more square footage, including more bedrooms. If you’re running out of room for everyone, you may not be able to wait to move. Deaths – If you’ve recently lost a loved one, it can be hard to spend time in that home. You may need to move for financial reasons or because you no longer need all the space.Retirement – If you’re in the process of retiring, or you just did, you may be looking to downsize to cut costs, relocate to be closer to loved ones, or move to a dream location. In this new phase of life, your current home may not be able to deliver what you need. You may find you share one of these top motivators. If any of these resonate with you, it may be time to move so you can find a house better suited to your changing needs. A survey from Realtor.com finds other sellers are in the same boat. It says, 1 in 4 sellers are choosing to move for personal reasons, even with current mortgage rates:“. . . more than half of seller-buyers (56%) who are planning to sell in the next 12 months said they are waiting for rates to come down, while 25% need to sell soon for personal reasons.”If you need to sell now because something in your own life has changed, don’t let rates hold you back from what you want. You have options to help make that move possible. You can use the equity you already have in your current home toward your next purchase. And with how much equity homeowners have right now, you may be able to finance less than you’d expect, or pay all cash to avoid borrowing at all.Bottom LineWhen you're ready to prioritize your changing needs, reach out to a trusted real estate professional. They can help you list your house and find a home that delivers on everything you're looking for.

There’s been talk about a recession for quite a while now. But the economy has been remarkably resilient. Why? One reason is employment and wages have stayed strong. Let’s look at the latest information on each one and why both are good news if you’re thinking about selling your house.More Jobs Are Being CreatedInstead of facing the job losses typical of any recession, the economy has been growing and adding jobs. According to the Bureau of Labor Statistics (BLS), 187,000 jobs were created in July, which is up from the 185,000 created in June. That means more people are finding work. In fact, so many jobs are being added that the unemployment rate is far lower than the long-term average of 5.7% (see graph below):A low unemployment rate means that most people who want to work are finding jobs. When people have jobs, they have steady incomes – and that can help set them up to consider homeownership.People Are Making More MoneyAnd data also shows hourly earnings have been going up pretty steadily over the past few years (see graph below):When wages rise, people have more money that they could save or use toward buying a home. This increase in income helps offset some of the affordability challenges in the housing market today. Affordability depends on three main factors: wages, home prices, and mortgage rates. With higher home prices and mortgage rates right now, Builder Online summarizes how growing wages can help:“The housing market has been a beneficiary of the strong economy and labor market. Many of those employed have saved money over the past few years and used those funds toward a down payment on a home.”If you’re thinking about selling your house, a strong job market, growing wages, and the resulting buyer demand is fantastic news. It means there’s a larger pool of potential buyers out there who are in a position to pursue their dreams of homeownership.Bottom LineWith more jobs and rising wages creating eager buyers, there’s a lot going in your favor. Reach out to a local real estate agent so you have someone who can guide you through the process of selling your house, from setting the right price to getting your home ready to show.

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you through each unique step of the process. The reality is, not all agents operate the same way. To truly make a powerful and confident decision as you buy or sell a home, you need a real estate expert who uses their knowledge of what’s really happening with home prices, housing supply, industry projections, and more to give you the best possible advice. Someone who can provide clarity and trust like that is essential to your success. Jay Thompson, Real Estate Industry Consultant, explains:“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty for consumers. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You can lean on an expert to help you separate fact from fiction and get the answers you need.The right agent can assist you in figuring out what’s going on at the national level and in your local area. They can debunk headlines using data you can trust. Experts have in-depth knowledge of the industry and can provide context, so you know how current trends compare to the normal ebbs and flows in the housing market, historical data, and more.Then, to make sure you have the full picture, an agent can tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you can use all that information to make the best possible decision.After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where a trusted expert comes in.Bottom LineIf you want sound advice and trusted information about the housing market, reach out to a local real estate professional today.