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Housing Market Updates
One of the Top Reasons to Own a Home
One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and what you owe is called equity. (more…)
Home Prices Increase in Every Price Range
Price appreciation can differ depending on your price range. CoreLogic analyzed four individual home prices tiers and shares the increase in each one. (more…)
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What Is the Probability That Home Values Sink?
With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective. (more…)
Millennial Buying Power Poised to Boost Homeownership
In a recent article by Realtor Magazine, Mark Fleming, Chief Economist of First American Financial Corporation, notes,
“The largest group of millennials by birth year will turn 30 in 2020, which puts them entering their prime homebuying years”.
Home Sales Expected to Continue Increasing In 2020
Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020. (more…)
Everybody Calm Down! This Is NOT 2008
Last week realtor.com released the results of a survey that produced three major revelations:
- 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next.
- 57% believe the next recession will be as bad or worse than 2008.
- 55% said they would cancel plans to move if a recession occurred.