The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically.There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale.The Opportunity This lack of homes for sale is creating a challenge for many buyers who are growing ..read more

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying:“Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR:“From o ..read more

With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon.But as a homebuyer, what do rates above 3% really mean?Today’s Average Mortgage Rate Still Presents Buyers with a Great OpportunityBuyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today ..read more

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically.There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale.The Opportunity This lack of homes for sale is creating a challenge for many buyers who are growing ..read more

Some HighlightsApplying for a mortgage is a big step towards homeownership, but it doesn’t need to be one you fear. Here are some tips to help you prepare.Know your credit score and work to build strong credit. When you’re ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search.Any major life change can be scary, and buying a home is no different. Partner with a trusted real estate professional to take the fear out of the equation ..read more

A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include:The flexibility to make the space your ownThe pride homeownership offersThe sense of stabilityIn the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way homeownership builds wealth over time.And experts agree – the home you own is an important tool for building your net worth. Here’s what many of those experts h ..read more