What Are Experts Saying About the Spring Housing Market? If you’re planning to move soon, you might be wondering if there'll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here's what the professionals are saying about what’s in store for this season. Odeta Kushi, Deputy Chief Economist, First American: “. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.” Lisa Sturtevant, Chief Economist, Bright MLS: “There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.” Danielle Hale, Chief Economist, Realtor.com: “Where we are right now is the best of both worlds. Price increases are slowing, which is good for buyers, and prices are still relatively high, which is good for sellers.” Skylar Olsen, Chief Economist, Zillow: “There are slightly more homes for sale than this time last year, and there is still plenty of competition for well-priced houses. Buyers should prep their credit scores and sellers should prep their properties now, attractive listings are going pending in less than a month, and time on market will shrink in the weeks ahead.” Jiayi Xu, Economist, Realtor.com: “While mortgage rates remain elevated, home shoppers who are looking to buy this spring could find more affordable homes on the market than they saw at the same time last year. Specifically, there were 20.6% more homes available for sale ranging between $200,000 and $350,000 in February 2024 than a year ago, surpassing growth in other price ranges.” If you’re looking to sell, this spring might be your sweet spot because there just aren’t many homes on the market. Sure, inventory is rising, but it’s nowhere near enough to meet today’s buyer demand. That’s why they’re still selling so quickly. If you’re looking to buy, the growing number of homes for sale this spring means you’ll have more choices than this time last year. But be prepared to move quickly since there’ll be plenty of competition with other buyers. Bottom Line No matter what you're planning, let’s team up to confidently navigate the busy spring housing market.

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Does It Make Sense To Buy a Home Right Now? 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 should tell you. They’re not expecting any price declines. Instead, they’re saying we’ll see a 3-4% rise each year. And even though home prices aren’t expected to climb by as much in 2025 as they are 2024, keep in mind these increases can really add up over time. It works like this. If these experts are right and your home's value goes up by 3.78% this year, it's set to grow another 3.36% next year. And another 3.87% the year after that. What Does This Mean for You? Knowing that prices are forecasted to keep going up should make you feel good about buying a home. That’s because it means your home is an asset that’s projected to grow in value in the years ahead. If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using expert projections from the HPES. Check out the graph below:     In this example, imagine you bought a home for $400,000 at the start of this year. Based on these projections, you could end up gaining over $83,000 in household wealth over the next five years as your home grows in value. Of course, you could also wait – but if you do, buying a home is just going to end up costing you more.  Bottom Line If you're thinking it's time to get your own place, and you’re ready and able to do so, buying now might make sense. Your home is expected to keep getting more valuable as prices go up. Let’s team up to start looking for your next home today.

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4 Tips To Make Your Strongest Offer on a Home Are you thinking about buying a home soon? If so, you should know today’s market is competitive in many areas because the number of homes for sale is still low – and that’s leading to multiple-offer scenarios. And moving into the peak homebuying season this spring, this is only expected to ramp up more. Remember these four tips to make your best offer. 1. Partner with a Real Estate Agent Rely on a real estate agent who can support your goals. As PODS notes: “Making an offer on a home without an agent is certainly possible, but having a pro by your side gives you a massive advantage in figuring out what to offer on a house.” Agents are local market experts. They know what’s worked for other buyers in your area and what sellers may be looking for. That advice can be game changing when you’re deciding what offer to bring to the table. 2. Understand Your Budget Knowing your numbers is even more important right now. The best way to understand your budget is to work with a lender so you can get pre-approved for a home loan. Doing so helps you be more financially confident and shows sellers you’re serious. That gives you a competitive edge. As Investopedia says: “. . . sellers have an advantage because of intense buyer demand and a limited number of homes for sale; they may be less likely to consider offers without pre-approval letters.” 3. Make a Strong, but Fair Offer It’s only natural to want the best deal you can get on a home, especially when affordability is tight. However, submitting an offer that’s too low does have some risks. You don’t want to make an offer that’ll be tossed out as soon as it’s received just to see if it sticks. As Realtor.com explains: “. . . an offer price that’s significantly lower than the listing price, is often rejected by sellers who feel insulted . . . Most listing agents try to get their sellers to at least enter negotiations with buyers, to counteroffer with a number a little closer to the list price. However, if a seller is offended by a buyer or isn’t taking the buyer seriously, there’s not much you, or the real estate agent, can do.” The expertise your agent brings to this part of the process will help you stay competitive and find a price that’s fair to you and the seller. 4. Trust Your Agent During Negotiations After you submit your offer, the seller may decide to counter it. When negotiating, it's smart to understand what matters to the seller. Once you do, being as flexible as you can on things like moving dates or the condition of the house can make your offer more attractive. Your real estate agent is your partner in navigating these details. Trust them to lead you through negotiations and help you figure out the best plan. As an article from the National Association of Realtors (NAR) explains: “There are many factors up for discussion in any real estate transaction—from price to repairs to possession date. A real estate professional who’s representing you will look at the transaction from your perspective, helping you negotiate a purchase agreement that meets your needs . . .”  Bottom Line In today's competitive market, let’s work together to find you a home you love and craft a strong offer that stands out. 

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