Prices are up and down. Equity growth is a dream for real estate.
Homeowners’ equity in housing was at a record high of $20.4 trillion in the third quarter of 2020. The steady upward trend since 2012 was spurred by accelerating home-price growth and low mortgage rates, which have helped many households build equity in their homes. The third quarter’s year-over-year increase in home prices was 7.8 percent, the highest since 2006. The most recent monthly data point from the FHFA for November 2020 showed an increase of 11.0 percent, the highest year-over-year growth rate in the series and surpassing the previous high of 10.7 percent in 2005.
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Ask a couple people how the housing market is doing and you’ll probably get a couple different answers. That’s because right now, the market runs on 2 very different tracks, split by price point.
You've been waiting for something to change before you buy. It just might not be the thing you expected…
While everyone’s paying attention to mortgage rates, only the savviest buyers know that the changing season in Lake Arrowhead can start tipping things in their favor.
You're scrolling through listings on your phone and everything looks good until you see the price (or the estimated monthly payment). Then you close the app. Why?
You may have heard the number of homes for sale isn’t growing like it was.
Ask around and almost every homebuyer out there wants to know if there’s a way to get a better deal. And just about every seller wants to know if they'll still get top dollar.
Imagine waiting a year to buy a home, only to find mortgage rates haven't changed much. That may sound frustrating. But it's a real possibility.
