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Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s true rates have risen dramatically, it’s important to remember they aren’t the only factor in the affordability equation. Here [...]
Some Highlights If you’re questioning whether or not to buy a home this year due to today’s cooling real estate market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide, home prices appreciated by 2% since 1991. Homeownership wins in the long run. If you’re ready [...]
While higher mortgage rates are creating affordability challenges for homebuyers this year, there is some good news for homebuyers. As the market has cooled this year, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too. Here are just a few trends that may benefit you when you go [...]
If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for. What is driving today's buyer demand? While the millennial generation has been dubbed the renter [...]
With all the headlines and talk in the media about the shift in today's housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s [...]
Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly. As the 2022 [...]
Some Highlights If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale. You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home? Contact Northwoods Community [...]
As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely [...]
How does current inflation news impact your real estate plans for the near future? While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession. [...]
Supply and demand in housing is constantly changing. Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. The graph below helps tell the story of [...]
