by Chuck Norsch | Jan 15, 2020 | Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing
There’s a current narrative that owning a home today is less affordable than it has been in the past. The reason some are making this claim is because house prices have substantially increased over the last several years. It’s not, however, just the price of a home...
by Chuck Norsch | Jan 2, 2020 | For Buyers, For Sellers, Housing Market Updates, Pricing
This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen in the 2020 U.S. housing market can be challenging. As...
by Chuck Norsch | Dec 23, 2019 | Housing Market Updates, Pricing
Questions continue to rise around where home prices will head in 2020. The latest forecast from CoreLogic shows continued appreciation at 5.4% over the next year:Additionally, ARCH Mortgage Insurance Company in their current Housing and Mortgage Market Review revealed...
by Chuck Norsch | Dec 9, 2019 | First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing
Saving for a down payment is a key step in the homebuying process, and it’s not the only piece you need to include in your budget. Another factor that’s important to plan for is the closing costs required to obtain a mortgage. What Are Closing Costs? According...
by Chuck Norsch | Nov 7, 2019 | Housing Market Updates, Interest Rates, Pricing
Home buying activity (demand) is up, and the number of available listings (supply) is down. When demand outpaces supply, prices appreciate. That’s why firms are beginning to increase their projections for home price appreciation going forward. As an example, CoreLogic...
by Chuck Norsch | Oct 30, 2019 | First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing
The gap between the increase in personal income and residential real estate prices has been used to defend the concept that we are experiencing an affordability crisis in housing today. It is true that home prices and wages are two key elements in any affordability...
