housing prices: Do Elections Impact the Housing Market? - 06/20/24 03:15 PM
The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market.
It’s a great question because buying or selling a home is a major decision, and it’s natural to wonder how such a major event might impact your plans.
Historically, Presidential elections have only had a small, temporary impact on the housing market. Here’s the latest on exactly what’s happened to home sales, prices, and mortgage rates throughout those time periods.
Home SalesDuring the month of November, in years when the Presidential … (3 comments)

housing prices: Myths About the 2024 Housing Market - 04/19/24 06:55 AM
Some Highlights When it comes to the current housing market, there are some myths circling around right now. Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale and down payments.  Let’s connect so you have an expert to help separate fact from fiction in today’s housing market.  
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142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The … (1 comments)

housing prices: Does It Make Sense To Buy a Home Right Now? - 03/20/24 07:52 AM
Thinking about buying a home? If so, you're probably wondering: should I buy now or wait? Nobody can make that decision for you, but here's some information that can help you decide.
What’s Next for Home Prices?Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices.
In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph below):
Here’s what all the green on this chart … (3 comments)

housing prices: Expert Home Price Forecasts for 2024 Revised Up - 02/22/24 08:13 AM
Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall.
So, let’s see exactly how experts’ thinking has shifted – and what’s caused the change.
2024 Home Price Forecasts: Then and NowThe chart below shows what seven expert organizations think will happen to home prices in 2024. It compares their first 2024 home price forecasts (made at the end of 2023) with their newest projections:
The middle column shows that, at first, these experts thought home prices would only go up a … (1 comments)

housing prices: Don’t Let the Latest Home Price Headlines Confuse You - 02/15/24 07:22 AM
Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture.
If you look at the national data for 2023, home prices actually showed positive growth for the year. While this varies by market, and while there were some months with slight declines nationally, those were the exception, not the rule.
The overarching story is that prices went up last year, not down. Let’s dive into the data to set the record straight. 
2023 Was the Return to More Normal Home Price GrowthIf anything, last year … (2 comments)

housing prices: Don’t Wait Until Spring To Sell Your House - 02/01/24 01:40 PM
As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here's why.
1. Take Advantage of Lower Mortgage Rates Last October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving more affordable now than it was just … (2 comments)

housing prices: Experts Project Home Prices Will Increase in 2024 - 01/23/24 01:02 PM
Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too.
To help ease that concern, here's what experts forecast will happen with prices this year.
Experts Project a Modest IncreaseCheck out the latest home price forecasts from eight different sources (see graph below):
The blue bar on the left means, on average, experts … (1 comments)

housing prices: Sell Smarter: Why Working with a Real Estate Agent May Beat Going Solo - 12/21/23 07:35 AM
If you're thinking about selling your house on your own, called “For Sale by Owner” or FSBO, there are some important things to consider. Going this route means taking on a lot of responsibilities by yourself – and that can be a bit of a headache.
A recent report from the National Association of Realtors (NAR) found two of the most difficult tasks for people who sell their house on their own are getting the price right and understanding and performing paperwork.
Here are just a few of the ways an agent helps with those difficult tasks.
Getting the Price Right … (2 comments)

housing prices: Experts Project Home Prices Will Rise over the Next 5 Years - 12/04/23 07:28 AM
Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them.
To help ease that concern, here’s what the experts say will happen with home prices not just next year, but over the next five years.
Experts Project Ongoing … (3 comments)

housing prices: Home Prices Still Growing – Just at a More Normal Pace - 11/22/23 08:53 AM
If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise. Some people are still saying prices are falling, even though data proves otherwise. Part of that misconception is because people are getting their information from unreliable sources. But it’s also coming from some media coverage misrepresenting what the data really shows.
So, to keep things simple, here’s what you really need to know using real data you can trust.
Normal Home Price Seasonality ExplainedIn the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the … (0 comments)

housing prices: These Top Cities Show Home Prices Are Still Climbing - 11/14/23 06:55 AM
If you’re considering buying a home or selling your current one to find something that better suits your needs, you may have questions about what’s happening with home prices today. Here’s what you need to know.
There’s still a lot of confusion and misinformation out there. So, no matter what you may have heard, the national data shows they've actually been climbing again (see graphs below):
As you can see, in the first half of 2022, home prices went way up. Those increases were dramatic and unsustainable. So, in the second half of 2022, prices adjusted. Those dips were small and didn't last … (1 comments)

housing prices: Invest in Yourself by Owning a Home - 10/25/23 06:08 PM
Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner.
Home Values Appreciate over TimeThere’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make … (2 comments)

housing prices: Why Home Prices Keep Going Up - 10/23/23 06:55 AM
If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up. It's a tale of financial goals, doubts, and a dash of anxiety that many have been through.
But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it's just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below):
Here’s what this graph shows. In the first half of 2022, home prices … (0 comments)

housing prices: Home Price Growth Is Returning to Normal - 10/20/23 08:30 AM
Some Highlights If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.   Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on. Home prices aren’t falling. They’re just rising slower and going back to normal seasonal trends. That’s a good thing. If you're curious about prices in our area, let’s connect.  
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
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The … (1 comments)

housing prices: Explaining Today’s Low Housing Supply - 09/29/23 07:35 AM
Some Highlights Wondering 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. Let’s connect so you have an expert on your side to help you successfully navigate the market and find your next home.   
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
Let’s Connect:
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Linkedin
Twitter
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The … (2 comments)

housing prices: The Return of Normal Seasonality for Home Price Appreciation - 09/26/23 06:39 AM
If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend.
In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months approach. … (1 comments)

housing prices: Expert Home Price Forecasts Revised Up for 2023 - 09/05/23 07:24 AM
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 … (1 comments)

housing prices: Home Prices Are Back on the Rise. - 08/11/23 06:30 AM
Some Highlights Looking at monthly home price data from six expert sources shows the worst home price declines are behind us, and they’re rising again nationally. If you’ve put your plans to move on pause because you were worried about home prices crashing, this rebound is good news. Let’s connect so you know what’s happening with prices in our area.  
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
Let’s Connect:
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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or … (3 comments)

housing prices: Pricing Your House Right Still Matters Today - 07/31/23 06:24 AM
While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.
To set yourself up to see advantages like these, you need to rely on an agent. Only an agent has the expertise needed to find the right asking price for your house. Here’s what’s at stake if that price … (4 comments)

housing prices: Key Housing Market Trends - 07/28/23 08:13 AM
Some Highlights If you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market. Housing inventory is still very low, prices are climbing back up, and homes are selling fast when priced right. If you want more information about our local area and what the trends mean for your plans to buy or sell, let’s connect.  
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
Let’s Connect:
Facebook
Linkedin
Twitter
Instagram
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the … (1 comments)