Falling Head Over Heels for Homeownership: The Simple Reason Why It's So Easy - 2 Manny Homes for sale Team Orlando Florida
No matter how the housing market changes, there are some things about owning a home that never change—like the personal benefits it can provide. When you own your home, you likely feel a sense of attachment because of the comfort it gives and also because it’s a space that’s truly yours. Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them. As a result, the emotional benefits our homes provide have become even more important to us. As the most recent State of the American Homeowner from Unison puts it: “. . . one thing has stayed the same: the home continues to be of the utmost importance and a place of security and comfort.” The same study from Unison notes: 91% of homeowners say they feel secure, stable, or successful owning a home 64% of American homeowners say living through a pandemic has made their home more important to them than ever It’s no surprise this study also reveals that homeowners now love their homes even more as our attachments to them have grown: The National Association of Realtors (NAR) also explains: “In addition to tangible financial benefits, homeownership brings substantial social benefits for [households], communities, and the country as a whole.” In other words, not only does owning a home build your net worth over time, but it also gives you and your loved ones a place to thrive. And by living near people with shared experiences, homeownership helps you connect with your community and contribute meaningfully. Bottom Line If you are considering purchasing your initial residence, upgrading to your ideal home, or downsizing to suit your evolving lifestyle, I can be the solution to discovering a dwelling that captures your heart.
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Are you curious about the current state of home prices?- 2MannyHomes for sale Team
The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices. Local price trends still vary by market. But looking at national data, Nataliya Polkovnichenko, Ph.D., Supervisory Economist at the Federal Housing Finance Agency (FHFA), explains: “U.S. house prices were largely unchanged in the last four months and remained near the peak levels reached over the summer of 2022. While higher mortgage rates have suppressed demand, low inventories of homes for sale have helped maintain relatively flat house prices.” Month-over-month home price changes can be seen in the chart below. The data also shows that price depreciation peaked around August. Since then, any depreciation has been even milder. In other words, today’s home prices aren’t in a freefall. What Does This Mean for You? If you currently own your house, you may be concerned about even the smallest decline in prices. But keep in mind how much home values grew over the last few years. Compared to that growth, any declines we’re seeing nationally are likely to be minimal. Selma Hepp, Chief Economist at CoreLogic, shares: “. . . while prices continued to fall from November, the rate of decline was lower than that seen in the summer and still adds up to only a 3% cumulative drop in prices since last spring’s peak.” It’s also important to remember that every local market is different. That’s why it’s essential to lean on an expert for the latest information on home prices in your area if you’re planning to make a move this spring. Bottom Line Want to know more about the current situation of home prices in our market? Let's chat today and see how it can affect your plans. Can't wait to hear from you!
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The Inventory of Homes for Sale Increases Compared to Last Year, but Remains Below Pre-Pandemic Levels. - 2 Manny Homes for Sale Team
The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your house, this is a great time to do so. Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic. According to the latest Monthly Housing Market Trends Report from realtor.com: “There were 65.5% more homes for sale in January compared to the same time in 2022. This means that there were 248,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.” The graph below shows how today’s inventory of homes for sale compares to recent years: What Does This Mean for You? Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process—they just need to find homes to buy. This is a welcome activity for the spring market, especially if you’re thinking of selling your house. With a renewed interest in buying a home for many, the New York Times (NYT) reports: “Home buyers are edging back into the market after being sidelined last year . . .” So, if you want to take advantage of a sweet spot in the market, this spring could be your shot. Bottom Line To cater to the high demand of modern home buyers, the real estate industry must offer more homes for sale. If you're considering selling your property, it's the ideal time to connect with us and prepare to make your move this spring. 2 Manny Homes for Sale Team
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