Keeping It REAL - by Bettsy Tyler

 It's Anybody's Guess But...  With 10 years having now passed since the Great Recession, the U.S. has been on the longest period of continued economic expansion on record. The housing market has been along for much of the ride and continues to benefit greatly from the overall health of the economy. However, hot economies eventually cool and with that, hot housing markets move more towards balance. Housing market forecasts are essentially informed guesses based on existing patterns, and there are plenty of guesses going around, While the real estate pace of 2021 appears to be reverting to seasonality as we approached 2022, demand is not waning. Increasing interest rates will almost certainly have a greater impact on the national housing market as we move into 2022 than any other factor. Sellers remain in an advantageous position as long as the inventory remains at or near its current level. Housing supply is and will likely remain a challenge for some time as labor and mate...

  Imagine the first place you lived as a young adult. Now imagine trying to fit your life today into that space. Not pretty, right? For most of us, our housing needs are cyclical. 1 A newly independent adult can find freedom and flexibility in even a tiny apartment. That same space, to a growing family, would feel stifling. For empty nesters, a large home with several unused bedrooms can become impractical to heat and clean. It’s no surprise that life transitions often trigger a home purchase. While your home-buying journey may not look like your neighbor’s or friend’s, broad trends can help you understand what to keep in mind as you house hunt. No one wants to regret their home purchase, and taking the time now to think about exactly what you need can save a lot of heartache later. The Newly Married or Partnered Couple The financial and legal commitment of marriage has provided a springboard to homeownership for centuries, though these days more couples are buying hom...

  What's in Store for the Real Estate Market?   While many areas of the economy have contracted, the housing market has been the bright spot and has stayed remarkably strong. When COVID-related shutdowns began in March, real estate brokers and clients scrambled to respond to the shift. Record-low interest rates caused some lenders to call a halt to new underwriting, and homeowners debated whether or not to put their houses on the market. However, those first days of uncertainty ushered in a period of unprecedented demand in the U.S. real estate market, which ended the year with increasing average home prices (up 13.4% from the previous year) and shrinking days on market (13 fewer than in 2019). 1 As the spring market approaches, you may be wondering if you’re a homeowner, should you take advantage of this opportunity? If you’re a buyer, should you jump in and risk paying too much? Below are some insights. How is today’s market different from the one that caused the 2...