Existing-Home Sales Increased 1.5% in September, According to NAR Report

Existing-Home Sales Increased 1.5% in September, According to NAR Report: Existing-home sales increased 1.5% in September to a seasonally adjusted annual rate of 3.99 million, according to NAR. Housing inventory rose to 1.60 million units, representing a 4.8-month supply, while the median existing-home price climbed 1.3% year-over-year to $417,500. Sales gains in the South and West were offset by annual declines across all four U.S. regions.

Why There are More Homes for Sale Right Now (and What It Means for You)

 

Why There are More Homes for Sale Right Now (and What It Means for You)

Mortgage rates being back above 7% isn't exactly the news most people wanted. But it’s changing the market in ways that matter whether you’re buying or selling.

The number of homes for sale is growing faster than it was this time last year. And interestingly, the main reason isn’t a flood of new listings. It’s because homes aren’t selling as quickly.

Here’s why – and what that means if you’re thinking about buying or selling.

Inventory Growth Is Picking Up Steam

According to HousingWire Data, after inventory growth slowed down for most of the past year, it’s accelerated again in recent weeks. You can see that in the graph below. Just look at the blue line:

And what's behind this shift might surprise you.

When rates rise, some buyers hit pause. That means fewer homes sell each week. And as those unsold homes stay on the market alongside new listings, the number available starts to grow (see the blue line in the graph below).

Here’s another way to look at it to make it even more obvious. The graph below shows the relationship between rates and inventory. Again, this year is the blue line. Last year? That’s the green.

With rates inching up this year, you can see inventory has grown by about 25k. But when rates went down this time last year, buyers jumped back in, and inventory actually dropped by about 9k.

Logan Mohtashami, Lead Analyst at HousingWire, explains how that's flipped from 2025 to 2026:

"With mortgage rates over 7%, demand tends to soften and inventory rises . . ."

Homes Are Spending More Time on the Market

Here’s another metric that shows the impact rates are having: time on market. Data from Realtor.com shows the typical home spent 61 days on the market this September. Back in September 2021, it was just 41 days (see graph below):

Here’s what that tells us. In 2021, when rates were low, more buyers were active, and homes sold fast. But now that rates are a bit higher, not as many buyers are interested, so it takes a bit longer to close a deal.

How To Make This Market Work for You

So, what does all of this mean for your plans? That depends on which side of the move you’re on:

If you’re buying, more homes for sale means more choices and less pressure to rush. And more room to negotiate too. A house that’s been sitting for a while could have a seller who’s more willing to talk – not just about price, but repairs, closing costs, or even helping buy down your mortgage rate.

That doesn’t mean every seller will play ball. But compared to the frenzy of a few years ago, buyers have more leverage now.

If you're selling, the right strategy can make all the difference. Buyers have more homes to choose from, so making yours stand out is especially important. That starts with pricing it right from day one, making a great first impression, and working with your agent to highlight what makes your house worth choosing. Buyers are still buying and homes are still selling. The key is making sure yours is positioned to attract the right buyer.

The market hasn’t stopped. It’s just moving at a different pace. And whether you’re buying or selling, your strategy needs to move with it.

Bottom Line

In many places right now, inventory is growing and homes are taking a bit longer to sell. And that’s information that should shape the strategy you use going in.

Whether you're buying or selling, let's look at how long homes are taking to sell in your neighborhood, so your offer, or your price, fits today's market.

3 Things You Can Actually Control About Your Mortgage Rate Right Now

 

3 Things You Can Actually Control About Your Mortgage Rate Right Now

If you're trying to buy a home, affordability is probably what keeps you up at night. And as you watch mortgage rates tick up again lately, it’s fair to wonder if you should just hit pause and wait for them to go down.

For now, though, they’re headed the other way. Mortgage News Daily data shows how rates have risen this year (see graph below):

And if you’re wondering why? There are actually a number of reasons. 

Mortgage rates are impacted by the situation overseas, economic data, inflation numbers, oil prices, and even decisions from the Federal Reserve (who recently decided to hike their Fed Funds Rate – which often affects mortgage rates too). As Danielle Hale, Chief Economist at Realtor.com, explains:

“The pressure on mortgage rates was here even before the Fed rate hike, and it doesn’t show signs of relenting. . .”

Now, that’s probably not what you wanted to hear. But, it doesn’t mean there’s nothing you can do. While you can't control where rates go from here, you absolutely can control several things that shape the rate you actually get. 

So where should you focus? Let's walk through it.

Work on Your Credit Score

Your credit score plays a big role in the rate you qualify for, and even a small improvement can make a real difference in your monthly payment. As Freddie Mac puts it:

"Generally, the higher your credit score the more options will be available to you, including better loan terms and a lower interest rate."

So, make sure you do what you can to keep your credit score up. If you're not sure where your score stands right now, or how to improve it, talk to a trusted loan officer.

Explore Your Loan Options

The type and term of your loan both affect your rate. Conventional, FHA, VA, and USDA loans each come with their own requirements and rates, and your term (15, 20, or 30 years) changes both your payment and the total interest you'll pay. The structure matters, too. A fixed-rate loan holds the same rate over time, while an adjustable-rate loan usually starts lower and can move later on. Bankrate explains it this way:

". . . rates on fixed-rate loans are typically higher than introductory rates on adjustable-rate loans because the fixed-rate lender takes on the risk that rates could increase during the loan’s term. Likewise, government-backed FHA, VA and USDA loans sometimes have lower rates because they have a government guarantee or insurance that cuts the lender’s risk."

It’s important to explore your options with a lender to see what makes the most sense for you. Just be sure to balance your goals, your possible rate, and any potential tradeoffs before making any decision. You may even want to talk to multiple lenders to see how the options vary. 

Consider a Newly Built Home

Another path to a lower rate comes down to the kind of home you buy. Many builders are buying down mortgage rates, which lowers your monthly payment. It’s just one way they’re trying to attract buyers and get their homes sold.

According to Realtor.com, buyers of newly built homes landed a lower average rate last quarter than buyers of existing homes (see graph below):

If a lower rate is your goal, it may be worth asking your agent to show you some new build communities that are offering this type of incentive locally.

Bottom Line

You can't control where mortgage rates go, but you can control your credit, your loan, and the kind of home you buy. Working with a trusted lender can help you lock in the best rate you qualify for. And when you’re ready to make a move that fits your budget, let’s connect.

Selling This Fall? You Want To Get These 4 Things Right.

 

Selling This Fall? You Want To Get These 4 Things Right.

Selling your house this fall is absolutely doable. But there’s something you need to know about this time of year. 

Buyer activity typically starts to slow while the number of homes for sale climb – and you need the right strategy to get attention in this type of market.

The good news? There’s a lot you can control.

From how you price and present your house to how you negotiate and respond to feedback. Here are four things you’ll want to get right this fall. 

#1: Price To Get Buyers’ Attention

In the fall, there are typically fewer buyers looking and more homes for them to choose from. So, you want to make the most of every buyer who comes across your house.

And your price is one of the first things that can make them stop and take a closer look – or keep scrolling. 

That’s why this isn’t the time to start high “just to see what happens.”

If buyers think your house is overpriced, they have plenty of other options to move on to. And that could leave you sitting and waiting.

So, if you want to sell before year-end, work with your agent to find the right price for your house and today’s market. That may mean listing at market value – or even slightly below it – to grab buyers’ attention.

Redfin explains how a seemingly small difference can change your buyer pool: 

“Buyers often search in round-number price brackets, so pricing at $499,000 instead of $505,000 can make your home appear in more searches and feel like a better deal.” 

#2: Make a Great First Impression

When buyers had very few homes to choose from, they were often more willing to overlook dated finishes or a house that needed some work. That’s harder to count on now.

With more choices, how your house looks online and in person can determine whether it makes a buyer’s shortlist at all.

That doesn’t mean you need a full renovation before you sell, but you should take care of essential repairs, do what you can to boost curb appeal, and make sure your house photographs well. Maybe that’s some light staging, maybe it’s swapping out faucets or lights, or maybe a fresh coat of paint. Small details can help a lot.

After all, you only get one chance to make that first impression. Make it count.

#3: Stay Open To Negotiating

Some sellers are still expecting the kind of leverage they had a few years ago. But in many markets, buyers have more negotiating power today and there’s a lot more give and take.

The latest data from Redfin shows 46.2% of sellers gave buyers some type of concession. So, consider throwing in a little help with closing costs or covering a repair. Almost half of sellers are.

The takeaway? Playing hard ball may not get you what you want. But being flexible might. The key is not getting so focused on “winning” every individual negotiation that you lose sight of the bigger goal: making your move happen.

Sometimes a small concession is what gets you to the closing table.

#4: Know When It’s Time To Adjust

Sometimes your house tells you when something isn’t working. Maybe you’re getting plenty of online views but very few showings. Or buyers are coming through, but you’re not getting offers. Or maybe buyer feedback has one recurring theme.

Pay attention to those signals. They can help you figure out what needs to change.

Let’s say your price is the most common point of feedback. Talk to your agent about a price drop. It doesn’t have to be a big change to make a big difference. The average price cut right now is 4% according to HousingWire Data. That’s normal.

Now, that doesn’t mean you should panic and slash your price after a week. It means you and your agent should pay attention to what buyers are telling you and adjust if you need to.

Sometimes the smartest move isn’t waiting for the right buyer. It’s making sure you’re giving that buyer a reason to act.

Bottom Line

Selling this fall is absolutely doable. And now you know four of the biggest things to get right.

If you want to sell before the end of the year, let’s make sure you have a winning strategy from day one.

NAR Pending Home Sales Report Shows 0.3% Increase in August

NAR Pending Home Sales Report Shows 0.3% Increase in August: NAR's Pending Home Sales Report shows contract signings increased 0.3% in August 2026, with gains in the South and West offset by declines in the Northeast and Midwest. Compared to a year ago, pending sales were down 4.7% across all regions. Higher mortgage rates continued to weigh on buyer activity despite job growth, rising incomes, and improved purchasing power.

NAR Existing-Home Sales Report Shows 2.0% Decrease in August

NAR Existing-Home Sales Report Shows 2.0% Decrease in August: Existing-home sales declined 2.0% month-over-month and 1.2% year-over-year in August to a seasonally adjusted annual rate of 3.98 million, NAR reported. Inventory rose to 1.62 million units, a 4.9-month supply and the highest in over a decade, giving buyers more room to negotiate.

There’s No Single “Data Center Effect” on Housing Markets, NAR Report Finds

There’s No Single “Data Center Effect” on Housing Markets, NAR Report Finds: A new NAR report finds data centers affect housing markets very differently depending on location. While 92% of U.S. counties have no mapped data centers, high-concentration counties tend to have higher home values, incomes and job growth. But NAR cautions correlation isn't causation, as these were already affluent tech hubs. Energy and water costs top REALTORS®' client concerns.

Home Prices Increased in 80% of Metro Areas in Second Quarter of 2026

Home Prices Increased in 80% of Metro Areas in Second Quarter of 2026: NAR's Q2 2026 report found home prices increased in 80% of metro areas, with the national median existing single-family home price rising 1.5% year over year to $434,900. Sales improved in most regions despite higher mortgage rates, while affordability benefited from income growth. The report also highlights top-performing, most expensive, and most affordable housing markets.

Foreign Buyers Purchased $45.3 Billion Worth of U.S. Homes from April ‘25 to March ‘26

Foreign Buyers Purchased $45.3 Billion Worth of U.S. Homes from April ‘25 to March ‘26: Foreign buyers purchased 67,100 U.S. homes worth $45.3 billion from April 2025 to March 2026, according to NAR's latest report. Purchases fell 14% and dollar volume declined 19.1% from the prior year. Canada led in buyer share, while China generated the highest dollar volume. Florida remained the top destination for international buyers.

Buying a Home? Here's What You Should Know About Home Insurance Costs.

Buying a Home? Here's What You Should Know About Home Insurance Costs.

If buying a home is on your radar, you've probably been keeping an eye on mortgage rates and home prices. But don’t forget about homeowners insurance. 

Homeowners insurance has always been part of owning a home. But over the past few years, it's become a larger expense for many homeowners – something that's especially frustrating when affordability already feels tight.

The good news? While premiums are still rising, the latest data shows those increases are beginning to slow. Here's what buyers should know.

Home Insurance Costs Have Gone Up

You've probably heard stories from friends or family about their premiums going up. And that’s not really a surprise when you consider data from the Pew Research Center shows 71% of homeowners say their insurance costs have gone up over the past few years.

While no one likes rising costs, knowing what to expect can help you plan ahead. Your first insurance payment is typically included in your closing costs, but after that it'll become part of your monthly housing expenses.

Getting an insurance quote early can help you build a more realistic budget and avoid surprises later.

Premiums Are Rising, But Not as Fast as They Were

Most of the headlines focus on how home insurance is getting more expensive. And that's true. But here’s the part that’s easy to miss.

Insurance premiums are still rising.

But they're not rising as fast as they were.

According to the latest report from Rate Insurance, 2025 saw the first slowdown in annual premium increases since 2019 (see graph below):

 

That doesn't mean premiums are getting cheaper. It simply means the rapid increases of the past several years may finally be starting to ease – a small but welcome step in the right direction.

But what you’ll pay in one part of the country can look very different from what someone pays somewhere else.

Where You Buy Can Make a Big Difference

Insurance costs vary because some parts of the country experience more claims than others. That's why it's important to look at what's happening locally.

Your premium will depend on things like where you're buying, the home itself, and the coverage you choose.

Forbes data can give a rough idea of your state’s typical premiums. Check out the map below – the darker the blue, the higher the costs tend to be in that state:

Ways To Lower Your Costs

While you can't control every cost that comes with buying a home, you can control how prepared you are. If you’re crunching the numbers and trying to find ways to save, Insurify and NerdWallet offer these tips that can help you get the best insurance price possible:

• Shop Around – Compare quotes from multiple companies.

• Bundle Policies – Combine home and auto to see if a bundle price is cheaper.

• Ask If There Are Discounts – Don’t miss out on savings you may qualify for.

• Highlight Upgrades – Features like a new roof or storm windows can cut costs.

• Improve Your Credit – A stronger credit score can mean better premiums.

One of the smartest things you can do is get an insurance quote before you make an offer. That way, you'll know what your monthly housing costs are likely to be before you commit.

An insurance professional can walk you through your options and help you find coverage that fits both your needs and your budget.

Bottom Line

Homeowners insurance has become a bigger part of the homebuying conversation. But it doesn't have to become a bigger source of stress.

The key is knowing what to expect before you buy. Get an insurance quote early, factor it into your budget, and lean on trusted local professionals to help you make the most informed decision possible.

The “Take It or Leave It” Attitude Is Fading from the Market – What That Means for You

 

The “Take It or Leave It” Attitude Is Fading from the Market – What That Means for You

Negotiations are back. More buyers are asking for better deals, and more sellers are giving them. Builders are throwing in extras, too. 

That’s why whether you’re buying or selling today, there are two terms you’ll hear a lot: concession and incentive.

• A concession is something a seller agrees to during negotiations to get a deal done.

• An incentive is a perk a builder (or a seller) advertises upfront to attract buyers.

Let’s run through what you need to know about both and how they could play a role in your move.

More Sellers Are Agreeing to Concessions

Almost half (46%) of homeowners who sold recently gave the buyer a concession, according to Redfin. That’s the highest share on record for this time of year. And roughly 1 in 7 (16%) sellers went a step further, cutting their asking price and offering a concession on top (see chart below):

 

So, what kind of concessions are we talking about?

A seller might cover part of your closing costs, take care of a repair, or offer a credit that trims your upfront costs. It’s how they keep a deal on track when buyers have more options to choose from – and homeowners aren’t the only ones compromising.

Builders Are Cutting Prices, Too

Newly built homes are seeing the same push and pull. According to the National Association of Home Builders (NAHB), 62% of builders are offering incentives right now. And about 35% are cutting prices outright (see chart below):

Those incentives often look like:

• Price adjustments

• Mortgage rate buydowns

• Free upgrades, like nicer finishes or appliances

Danielle Hale, Chief Economist at Realtor.com, explains why:

"New construction has been one of the steadiest parts of the housing market over the past few years, but builders are clearly responding to today's affordability pressures and higher levels of existing-home inventory."

Even builders, who many people think rarely negotiate, are competing on price and perks. They have been for over a year now. The same data shows this is the 15th straight month where more than 60% of builders have offered incentives to sweeten the deal. And that’s significant.

What This Means for Your Move

If you're buying, this is a good time to ask. Whether you have your eye on an existing house or a newly built home, there's a chance the seller or builder will meet you partway on price, terms, or both.

If you're selling, expect buyers to ask. Even builders of brand-new homes are making concessions more often than not right now. Holding firm on every term could mean more time on the market, or a lost sale altogether.

Bottom Line

Sellers and builders are both giving buyers more to work with this year. Want to know what’s realistic to expect in concessions and incentives in our market? Let’s connect.

The House That Started It All Could Kickstart What's Next

 

The House That Started It All Could Kickstart What's Next

Remember how exciting it was to buy your first place? It felt like crossing a long-awaited finish line. It gave you a place to build your life. Maybe it’s where you lived when you got married. Or where you welcomed a child or a pet into the family.

But that was just the beginning.

For most people, your first house was never meant to be your forever home. It’s a stepping stone for what comes next.

And if your life looks different today than it did when you got the keys, you’re not stuck. Moving may be more realistic than you think.

Starter Home Inventory Is Still Relatively Low

If you've been wondering whether now is the right time to move up, here's something worth knowing. Starter homes remain one of the hardest types of homes to find. And that's good news if you're thinking about selling your first place.

Historically, we haven’t been building enough homes for first-time buyers. And even though homebuilders have shifted more attention toward smaller, entry-level homes lately, the Census shows there’s a long way to go to re-build supply (see graph below):

That means your current house is in demand – and that’s a dream scenario for sellers. But that’s only half the story. You also need somewhere to go.

There Are More Move-Up Homes on the Market

Here’s where this gets interesting. While the supply of starter homes remains tight (the green line), data from Redfin shows that the number of homes for sale has been climbing overall (the blue line):

As Nadia Evangelou, Principal Economist and Director of Real Estate Research at the National Association of Realtors (NAR), explains:

“Too much of the inventory available today remains concentrated at higher price points, leaving a shortage of options for entry-level and middle-income buyers.”

That means you may have more choices for your move up than you'd expect. Whether you're hoping for another bedroom, a home office, a bigger backyard, or simply more room for this next stage of life, today's market may finally be giving you the chance to find it.

At the same time, your current house may be exactly what someone else has been looking for because homes like yours are still in short supply. That's a unique advantage for move-up buyers. And it could help you sell for a stronger price. As Zillow says:

"Starter home value appreciation has outpaced other types of homes nationally, mostly because they're so in demand."

Your Biggest Advantage May Be Your Equity

Here’s the cherry on top. There's one more thing your first home has been doing behind the scenes, and that’s building equity. Every mortgage payment you've made and every year your home's value has grown has quietly increased your ownership stake in your house.

According to Cotality, the average homeowner with a mortgage has $295k in equity built up. While your number may be different, once you sell, it could become the down payment on your next home or help reduce the amount you need to borrow at today’s rates.

Put it all together and your move up becomes a lot more realistic than you think:

• The house you're selling is in demand.

• The house you're buying may be easier to find.

• And the equity you've built can help bridge the gap between the two.

Your first home did exactly what it was supposed to do. It gave you a place to start.

Now, it may be the thing that helps you take the next step.

Bottom Line

Your first home was never meant to be your forever home. It was meant to help you build a life and build the financial foundation for whatever came next.

If your current home no longer fits the life you're living today, let’s connect. You may be closer to your next chapter than you realize.

More Homes, Better Prices: A Buyer’s Summer

 

More Homes, Better Prices: A Buyer’s Summer

If you’ve thought about buying a home in the past few years, you may have run into two frustrations: asking prices that kept climbing and too few homes to choose from.

In many places, both sticking points are letting up this summer, with lower asking prices and more homes for sale. Let’s look at the trends, and what they mean for your search.

Sellers Are Pricing To Attract Buyers

According to Realtor.com, the national median asking price was $430,000 in June, nearly $11,000 under what it was the year before (see graph below):

That’s the eighth month in a row that the typical asking price has dipped below where they were the previous year, according to the same Realtor.com report.

And while falling prices can sound worrying, this isn’t a sign of an impending crash. We’re talking about asking prices, not sold prices. This is a sign that today’s sellers are meeting the market where it is and pricing to draw buyers. And that’s actually something normal we’d expect from the market. As Danielle Hale, Chief Economist at Realtor.com, puts it:

“Sellers are reading market conditions and are pricing accordingly from the start rather than listing high and cutting later, and buyers are taking note and making bids. This is a welcome sign that we are in a functioning market.”

Asking prices were never going to climb forever – now they're just settling closer to what buyers can actually pay. That signals a healthier market, and sellers re-adjusting their expectations. 

More Homes Are Available Now

If you’ve spent the past few years watching homes disappear before you could even schedule a tour, this is for you.

Supply is starting to catch up. According to Realtor.com, the number of homes listed for sale in June was the highest June number we’ve seen in three years (see graph below):

This means more options for you and less competition for each one.

Now, supply is not back to normal everywhere. As you can see, we’re still down from where we were back in 2017-2019. But in many places, it’s better than it’s been in a while. Here’s how that helps you.

You don’t have to rush an offer just to stay in the running, and you have better odds of finding and landing the right home, not just the one that’s available. Plus, you’ll have more room to negotiate, so you’re searching from a stronger position than buyers had even a year ago.

Why This Is Encouraging if You’re Buying Your First Home

For first-time buyers looking for lower-priced homes, these trends line up especially well. Mischa Fisher, Chief Economist at Zillow, explains:

“The lowest price tiers are exhibiting some softness in terms of price, they also had the most listing-activity growth, the first time since 2022 that’s been the case.”

So, if you’re searching for your first place or your next house, there's a little more to choose from and a little more give on price.

Bottom Line

If a tight budget or a thin selection has kept you from buying a home, now might be the time to restart your search.

Ready to see what’s available here? Let’s connect.

NAR Pending Home Sales Report Shows 5.4% Decrease in June

NAR Pending Home Sales Report Shows 5.4% Decrease in June: Pending home sales fell 5.4% in June 2026 and were down 0.3% from a year ago, as elevated mortgage rates and record-high home prices continued to challenge buyers. Contract signings declined across all four U.S. regions month over month, though the Northeast and Midwest posted modest annual gains.

Student Loans Are Back in the News. Don't Let It Put Your Homeownership Plans on Hold.

 

Student Loans Are Back in the News. Don't Let It Put Your Homeownership Plans on Hold.

Student loans are back in the spotlight. And whether you've been following the headlines closely or just catching bits and pieces here and there, there's a good chance they've been on your mind lately.

And if you’re questioning whether you have to hit pause on your plans to buy a home, here's the thing you have to remember:

Having student loans doesn't automatically mean buying a home has to wait.

The Biggest Myth About Student Loans and Buying a Home

One of the most common misconceptions among first-time buyers is that they have to pay off their student loans before they can qualify for a mortgage. But in most cases, that's just not true. 

As an article from Redfin explains, student loans usually get evaluated the same way other debts do, like credit cards or car payments:

“Yes, you can get a mortgage with student loan debt. Lenders primarily assess your debt-to-income (DTI) ratio, which compares your monthly debt payments, including student loans, to your gross monthly income. Having student debt doesn’t automatically disqualify you if your DTI is within acceptable limits.”

So having that loan on your credit report isn't some special red flag that immediately disqualifies you.

Instead, lenders look at your overall financial situation, including your income, credit history, and more. Student loans are one piece of that puzzle, but they’re not the entire picture.

You're in Better Company Than You Think

Just to really drive this home, here’s a stat from the National Association of Realtors (NAR) that proves you can have student debt and still buy a home. Their research shows 33% of first-time homebuyers still had student loan debt.

That's 1 out of every 3 first-time buyers. The median amount they owed? $30,400.

Let that reassure you that people are buying homes with student debt every day. And carrying student loans doesn't automatically put homeownership out of reach.

Don’t Count Yourself Out Before You Even Try

At the end of the day, here's where a lot of buyers trip themselves up. They assume the worst and never even check what they could actually qualify for. But your situation is more unique than a blanket "no."

If your income is steady and the rest of your finances are in decent shape, buying a home could be more realistic than you think. The only way to know for sure is to actually run the numbers with someone who does this for a living.

You may discover you're closer to buying than you think.

Bottom Line

Student loans don't have to be the thing standing between you and owning a home. If you've been putting off your homebuying plans because of that debt, talk to a lender about your options. It may not be the barrier you think it is.

Think Nobody's Buying Homes Right Now? Think Again.

 

Think Nobody's Buying Homes Right Now? Think Again.

If you've been thinking about selling, you've probably seen plenty of headlines suggesting buyers have just about disappeared. But there's a big difference between a slow market and a stalled one.

Yes, mortgage rates are still higher than most people would like. Homes aren’t selling as fast as they were. And every week seems to bring another headline about buyers sitting on the sidelines. But here's what you haven't heard.

Despite everything going on, buyer demand has been remarkably resilient.

In fact, more sellers are getting to put up the “pending sale” sign now than during the last two years. What's even more surprising is that they're doing it at a time of year when activity usually starts to slow down.

And if you're thinking about selling, that's a trend worth paying attention to.

Buyers Are More Active Than You Think

One of the best ways to measure buyer demand is by looking at pending home sales. Those are homes that have gone under contract but haven't closed yet. Think of them as a real-time pulse check on the market and whether buyers are still buying.

HousingWire Data shows more homes are going under contract than at the same time the past 2 years (see graph below):

While it may come as a surprise, the numbers speak for themselves. It doesn’t mean buyers are everywhere, but it does mean they’re still active right now. And even if this ebbs and flows a bit in the weeks ahead, right now we’re still ahead of where we’ve been lately. That's encouraging news if you're thinking about selling because it tells us something important…

People haven't stopped buying homes. Serious buyers are still making moves.

And a lot of these people are buying because they decided they can't keep waiting. Whether it's a growing family, a new job, retirement, or simply wanting a different home, life keeps moving… even when mortgage rates stay higher than we'd like. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal."

So, if you've been worried no one’s buying, this data should give you some confidence. Today’s buyers aren't just casually browsing open houses on a Sunday afternoon, they've spent months waiting for rates to improve and now they realize they can’t wait anymore.

That means they have a purposeand a timeline. And that's exactly the kind of motivated buyer you want to work with.

What This Means for Your Sale

Does that mean every house will sell instantly? No.

Today's market is more balanced than it was a few years ago.  So, you can’t just price your house however you want or skip preparing it for the market.

Now buyers have choices, and they're willing to wait for the right home at the right price. But sellers who understand today's market (and price and position their homes right) are still finding success. Because the idea that "no one's buying right now" just isn't supported by the data.

The buyers are there.

The opportunity is there.

The key is having the right strategy to capture it.

Bottom Line

This year's housing market may be moving slower than many of us hoped. But, buyer demand is more resilient than the headlines suggest.

If you're wondering whether there are enough buyers for your house, let's connect. I'll show you what's happening in our local market and build a strategy that helps you take advantage of the momentum that's already here.

The “Take It or Leave It” Attitude Is Fading from the Market – What That Means for You

 

The “Take It or Leave It” Attitude Is Fading from the Market – What That Means for You

Negotiations are back. More buyers are asking for better deals, and more sellers are giving them. Builders are throwing in extras, too. 

That’s why whether you’re buying or selling today, there are two terms you’ll hear a lot: concession and incentive.

• A concession is something a seller agrees to during negotiations to get a deal done.

• An incentive is a perk a builder (or a seller) advertises upfront to attract buyers.

Let’s run through what you need to know about both and how they could play a role in your move.

More Sellers Are Agreeing to Concessions

Almost half (46%) of homeowners who sold recently gave the buyer a concession, according to Redfin. That’s the highest share on record for this time of year. And roughly 1 in 7 (16%) sellers went a step further, cutting their asking price and offering a concession on top (see chart below):

 

So, what kind of concessions are we talking about?

A seller might cover part of your closing costs, take care of a repair, or offer a credit that trims your upfront costs. It’s how they keep a deal on track when buyers have more options to choose from – and homeowners aren’t the only ones compromising.

Builders Are Cutting Prices, Too

Newly built homes are seeing the same push and pull. According to the National Association of Home Builders (NAHB), 62% of builders are offering incentives right now. And about 35% are cutting prices outright (see chart below):

Those incentives often look like:

• Price adjustments

• Mortgage rate buydowns

• Free upgrades, like nicer finishes or appliances

Danielle Hale, Chief Economist at Realtor.com, explains why:

"New construction has been one of the steadiest parts of the housing market over the past few years, but builders are clearly responding to today's affordability pressures and higher levels of existing-home inventory."

Even builders, who many people think rarely negotiate, are competing on price and perks. They have been for over a year now. The same data shows this is the 15th straight month where more than 60% of builders have offered incentives to sweeten the deal. And that’s significant.

What This Means for Your Move

If you're buying, this is a good time to ask. Whether you have your eye on an existing house or a newly built home, there's a chance the seller or builder will meet you partway on price, terms, or both.

If you're selling, expect buyers to ask. Even builders of brand-new homes are making concessions more often than not right now. Holding firm on every term could mean more time on the market, or a lost sale altogether.

Bottom Line

Sellers and builders are both giving buyers more to work with this year. Want to know what’s realistic to expect in concessions and incentives in our market? Let’s connect.

ONLY $440,000 - A must see SW Portland Vintage Chamer!

ONLY $440,000 - A must see SW Portland Vintage Chamer!  

NAR Existing-Home Sales Report Shows 2.4% Decrease in June

NAR Existing-Home Sales Report Shows 2.4% Decrease in June: Existing-home sales decreased by 2.4% month-over-month and increased 2.8% year-over-year, according to the National Association of REALTORS® Existing-Home Sales report. Month-over-month sales increased in the Northeast, and declined in the Midwest, South and West. Year-over-year sales rose in the Midwest, South and West and were flat in the Northeast.

Existing-Home Sales Dip as Housing Wealth Remains at All-Time High

Existing-Home Sales Dip as Housing Wealth Remains at All-Time High: Affordability challenges continue to rattle buyers, but the latest data suggests conditions may soon start to improve.

NAR Statement On FHA Decision to Remove Red Tape and Promote Homeownership

NAR Statement On FHA Decision to Remove Red Tape and Promote Homeownership: NAR welcomes HUD and FHA policy changes to modernize the Single Family mortgage insurance program. The updates aim to lower costs, reduce regulatory burdens, and streamline lending for both borrowers and lenders. NAR supports expanding responsible access to credit and improving efficiency to strengthen housing affordability and create more paths to homeownership.

Experienced REALTORS® Anchor the Industry as Housing Affordability Remains Top Hurdle, New NAR Report Finds

Experienced REALTORS® Anchor the Industry as Housing Affordability Remains Top Hurdle, New NAR Report Finds: NAR’s 2026 Member Profile highlights a more experienced REALTOR® base, with 13 median years in the business. Most members plan to stay active, while income and expenses continue to rise. Housing affordability remains the top barrier for clients. The report also shows growth in team-based business and continued reliance on referrals and repeat clients.

NAR Pending Home Sales Report Shows 3.8% Increase in May

NAR Pending Home Sales Report Shows 3.8% Increase in May: Pending home sales in May increased by 3.8% month-over-month and 4.8% year-over-year, MoM and YoY pending home sales rose in the Northeast, Midwest, South and West.

Lower Asking Prices Are a Win for Today’s Buyers

 

Lower Asking Prices Are a Win for Today’s Buyers

If affordability has been the biggest thing standing between you and a home, there's a little good news. 

Asking prices have started to come down.

The typical seller listed their house for a median of $429,500 in May. That’s 2.4% lower than a year ago, according to Realtor.com. On its own, that won't transform what you can afford, but in today’s market every little bit helps and it signals a broader shift taking place.

Buyers Are Finally Catching a Break

Check out this data from Realtor.com and you can see this is the first May in years where buyers have caught any sort of break price-wise.

Each May from 2022-2025, things held pretty steady. But this year? You can see that more noticeable shift in your favor (see graph below):

While the dip from $440,000 to $429,500 isn’t a big one, it gives you more breathing room. And that’s not a small thing when affordability has been this tough.

Now, lower asking prices don’t mean every home is suddenly within your range. But they do show buyers are gaining a little ground.

And in today’s market, a little ground can go a long way. 

What That Means for the Housing Market

And just in case this crossed your mind, this is good news for your move, not bad news for the market as a whole.

The subtle dip from last May to this one shows prices are easing, but they’re not dropping off a cliff. What this is actually a sign of is that the market’s rebalancing now that the number of homes for sale has grown.

Buyers have a bit more power again, and sellers know they can't name just any price and expect their house to sell. They either meet the market where it is, or face a price cut later. And in general, sellers would rather avoid a price cut. As the New York Post explains:

"Rather than swinging for the fences with pandemic-era price tags, sellers are increasingly coming to terms with a new reality. The share of listings featuring price cuts actually fell to 17.5% in May, suggesting homeowners are doing their homework before putting up a “For Sale” sign instead of chasing unrealistic numbers and cutting later."

This signals a broader change in the market.

Seller expectations have been skewed a little high since the pandemic buying frenzy – you've probably felt that firsthand. But now, things are starting to normalize. It could mean less back-and-forth to land on a fair number. And homes should be priced a bit more realistically from the start.

Bottom Line

If affordability has been your top concern, the recent dip in prices is an opening. Want to see what that looks like in our area? Let’s connect.

NAR Existing-Home Sales Report Shows 3.2% Increase in May

NAR Existing-Home Sales Report Shows 3.2% Increase in May: First-time buyers rose to 35% of all buyers — the highest share since June 2020 — driven by modest inventory improvements. Market outlook cooled for both buyers and sellers, with 25% of homes still selling above list price. Inspection contingency waivers dropped to 17%, down from 25% a year ago. Contracts closed in 30 days on average. Buyers continued to favor areas outside city centers at 82%.

New Metric Shows Housing Market Mismatch: More Homes Are for Sale, but Not at Prices Buyers Can Afford

New Metric Shows Housing Market Mismatch: More Homes Are for Sale, but Not at Prices Buyers Can Afford: New Listing-Income Alignment Score reveals households can access one-quarter fewer homes than in a balanced market.

NAR Existing-Home Sales Report Shows 0.2% Increase in April

NAR Existing-Home Sales Report Shows 0.2% Increase in April: Month-over-month sales increased in the Midwest and the South, were unchanged in the Northeast, and declined in the West. On a year-over-year basis, sales rose in the South, were flat in the West, and fell in both the Northeast and Midwest.

Could Co-Buying Be the Answer for Some First-Time Buyers?

 

Could Co-Buying Be the Answer for Some First-Time Buyers?

For a lot of would-be first-time buyers, affordability is the thing that’s standing in the way. But some buyers are getting creative and finding a way to still make the numbers work – and that’s through co-buying.

The Dream Is Still Alive. The Math Just Isn’t Working for Everyone.

Young people haven’t given up on the dream of owning a home – not even close. According to FirstHome IQ, homeownership still ranks among the top life goals for the next generation.

The problem? 73% of Gen Z and millennial buyers cite affordability as the reason for not making homeownership a priority. And it shows. First-time buyers now make up just 21% of all home purchases, the lowest share since the National Association of Realtors (NAR) started tracking the data in 1981.

But still, some buyers are making it happen. And a portion of them are turning to co-buying to get their foot in the door.

So, What’s Co-Buying?

Co-buying means purchasing a home with someone else, like a friend, sibling, or unmarried partner. You combine incomes, split the down payment, and share monthly costs. For some people, it’s a creative way to turn “someday” into a concrete move-in date that’s just around the corner.

And it's catching on fast, just look at where things stand today. According to CoBuy.io, 64 million Americans now co-own a home with someone they’re not married to. In fact, 31.5% of home purchases involve co-buyers (see graph below):

Why It Works

Here are just a few of the top reasons buyers are going this route, according to NerdWallet:

• Quicker path to homeownership: If owning a home is a serious goal for you, buying with someone else can help make that reality on a shorter timeline. Two or more people can save up a down payment a lot faster than one. That’s less time waiting and more time building equity in a place that’s yours.

• More purchasing power: With multiple incomes going toward the home purchase, you might be able to afford a nicer home or live in a more popular neighborhood. Sometimes teaming up means getting the home you actually want, not just the one you can barely afford on your own.

• Easier loan qualification: Added income from more than one buyer can also help with your debt-to-income (DTI) ratio, which the lender will calculate based on all the borrowers.

• Lower housing costs: Splitting up a mortgage payment multiple ways could maybe even make owning less expensive than renting. Plus, sharing costs can make repairs or renovations more manageable, too.

Things To Keep in Mind

If you’re considering going this route, there are some things you’ll want to think over. For starters, co-buying works best with people you trust and share financial goals with. So, before moving forward, make sure everyone agrees on how costs are split, who handles what, and what happens if one person wants to sell down the road.

That’s why a written co-ownership agreement can be a smart move. It keeps everyone on the same page and helps avoid headaches down the line. Think of it less like a legal formality and more like a game plan for your new investment.

Bottom Line

Affordability challenges are real, but they don't have to mean waiting indefinitely. Co-buying is helping some first-time buyers stop waiting and start putting down roots.

If you're curious whether it could work for your situation, let's talk. Reach out today and let's figure out your path to homeownership together.

4 Ways To Give Your Offer an Edge This Spring

 

4 Ways To Give Your Offer an Edge This Spring

Looking to buy a home this season? Here's what you should know. 

Buyers have more leverage today than they’ve had in years. There are more homes to choose from and, in many areas, sellers are more open to negotiation. 

But that doesn’t mean competition is gone completely. These days, it varies a lot depending on where you’re hoping to move. 

If you’re buying in a popular neighborhood, or in a market where there aren’t many homes for sale, you may still find yourself competing with another buyer.

And that’s especially true in the Spring. Here's how to stay one step ahead of any competition this season.

Why Your Best Offer Still Matters This Spring

According to experts at Zillow and Realtor.com, Spring is one of the busiest times of year to buy a home.

That’s because many buyers want to move now so they can settle in before the next school year. And when more buyers enter the market, competition naturally picks up. 

So, depending on where you’re buying, you may still need to move quickly and make a strong offer, even though the market overall has moderated. And that’s especially true if you find a home you really love.

This is what you need to know to make your offer stand out.

1. Lead with a Strong, Realistic Offer

It’s tempting to start low and negotiate up. And in some markets, that strategy can work. But if a home is priced well and getting attention, lowballing could hurt your chances.

Instead, focus on making an offer that reflects your local market. As Bankrate explains:

“There is no magic formula for an optimal home offer. Any offer will be heavily dependent on asking price and local market conditions . . . Your real estate agent will know the local market well and can advise what a competitive — but fair — offer will look like in your area.”

The goal is to make an offer that makes sense for you and stands out to the seller.  

2. Have a Plan for Competing Offers

If you’ve fallen in love with a home, it’s important to have a plan in case there’s competition from another buyer. One strategy your agent may discuss with you is an escalation clause, which Investopedia explains like this:  

“An escalation clause is a way to automatically escalate your bid by a certain dollar amount, up to a certain ceiling, to compete with other bids.”

The key is knowing your budget and sticking to it. You don’t want to lose out over a small difference – and this can help prevent that. But you also don’t want to overpay.

Keep in mind that if the appraisal comes in lower than your offer, you may have to make up the difference out of pocket. Your agent can help you weigh those risks and determine the best approach for your situation.

3. Keep Your Offer Clean

Price matters. But sellers also look closely at your offer’s terms. In some cases, a simpler, cleaner offer can stand out – even if it’s not the highest. As Redfin says:

“Sellers tend to want clean, straightforward offers with minimal strings attached. Keep your requests simple and focus on the essentials.”

Your agent can help you prioritize what matters most, so you’re not giving up things you need, while still making your offer as appealing as possible.

4. Be Flexible Where You Can

Sometimes, what helps your offer the most is understanding what matters to the seller. NerdWallet explains:

“As you prepare an offer, you tend to focus on what the seller has (a house) and what you want (their house). But you’ll gain a competitive edge by viewing the transaction from the seller’s eyes: What does the seller want?”

Does the seller need extra time to move out? Or do they want to move as soon as possible? Your agent can talk with the seller’s agent to find out what matters most. Flexibility here can make a big difference in how your offer is received.

Bottom Line

Today's market may be balancing out, but strong offers still matter – especially during the busy Spring season.

Curious how competitive things are (and what it’ll take to win) in our market? Let’s talk.

Is Late May the Best Time To List Your House?

 

Is Late May the Best Time To List Your House?

You may have heard April 12-18 was the “best week” to list your house. That’s based on a report from Realtor.com. But now that it’s passed, you may be wondering if you missed your moment.

Here's the good news – you didn’t. 

Because the reality is, there isn’t just one perfect week to sell your house this Spring. There’s a window. And right now, you’re still in it.

Your Window To Sell Is Still Wide Open

Here’s why. Different organizations run studies like this every year. And they don’t always land on the exact same week. That’s okay. It’s because they're using different research methods and even different definitions of what “best” means.

But the fact that the results vary points to a larger trend. While there may be sweet spots, the entire Spring season gives sellers an opportunity to get some of the best conditions (and best sales prices) of the year.

And it’s definitely not too late to jump in.

Why Listing in Late May Is the Perfect Play

According to Zillow, the best time to list your house this year is the last 2 weeks of May. And that’s approaching fast.

Based on their analysis, this is the ideal time to do it if you want to make top dollar. Because, in this 2-week window, homes sell for more. Sometimes, quite a bit more.

Depending on where you are and the price point in your area, some homeowners may even net tens of thousands of dollars extra in this sweet spot. As Zillow explains:

“Why late spring? Buyer demand typically peaks before Memorial Day. Families want to move during the summer and settle in before the new school year. More buyers shopping at once can spark competition and lift prices.”

And they’re not the only ones saying listing in May could be the key to selling for more. ATTOM Data analyzed almost 52 million home sales over the past 10 years and found sellers in May are achieving some of the highest returns.

That means the ideal window this year is very much still open.

What This Means for You 

If your goal is to sell for the strongest possible price, this is where timing and strategy come together. And you want to be sure you’re ready to make the most of it.

So, what should you be doing right now?

When prepping for a fast-moving window like this, you don’t want to waste time or money on the wrong prep work. And your agent is your go-to to make sure you’re focusing on the right things.

They’ll be able to tell you if the “best week” is slightly different in your market. And what quick repairs or updates can help you get a higher price, without taking a ton of time or effort.

Here's a quick example of things an agent may recommend based on information from Redfin:

At the end of the day, when your prep time’s short, doing the right things matters more than doing more things.

Bottom Line

Zillow says the best time to list your house is just around the corner. Are you ready to make the most of it?

If you want to take advantage of this Spring sweet spot and get top dollar for your house, let’s talk about what you need to do now to get ready to hit the market.

NAR Existing-Home Sales Report Shows 3.6% Decrease in March

NAR Existing-Home Sales Report Shows 3.6% Decrease in March: Existing-home sales decreased by 3.6% in March 2026. Month over month sales fell in all regions. Year over year sales rose in the South and West and declined in the Northeast and Midwest. Limited inventory continues to drive home prices up.

Before You Fall in Love with a House, Do This First.

 

Before You Fall in Love with a House, Do This First.

Be honest. Have you started looking at homes online yet? If you have, it’s already time to get pre-approved. Because here’s what not enough people know.

If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – you don’t want to wait until later on in the process to tackle this step.

No matter what you’ve heard, pre-approval isn’t about commitment. It’s about clarity.

And here are the two big ways pre-approval sets you up for success. 

You Know Your Numbers Up Front 

During the pre-approval process, a lender will walk through your finances and tell you what you can borrow based on your income, debts, credit score, and more. And once you have that number, your search becomes a lot more focused.

With a mortgage pre-approval, you know what you can borrow, so it’s easier to figure out your ideal price point, and what you can actually afford. And that clarity is key.

Because if you just start browsing online and just guess at your price point, you run the risk of falling for a house that’s outside of your price range – or missing out on ones that aren’t.

You want this number to be clearly defined before your search. Here’s why.

You Can Move Quickly When You Find the One

This is how a lot of home searches go today. You scroll through listings just to see what’s out there, and then it happens. You fall in love with something you’ve seen online.

If you’re already pre-approved? You’re probably in great shape.

But if you’re not…

Instead of being able to jump on that house and quickly make an offer, you have to scramble to get a lender, gather the financial documents, and then submit the necessary pre-approval paperwork first. And while you’re waiting to hear back from your lender, someone else who’s more prepared could beat you to the house. As Bankrate explains:

“The best time to get a mortgage preapproval is before you start looking for a home. If you find a home you love but don’t have a preapproval in hand, you likely won’t have time to get preapproved before you need to make an offer . . .”

And that’s avoidable, with the right prep.

Because while you can’t control when the right home shows up, you can be ready for it. Think of it like showing up to the starting line with your shoes tied and your warm-up done – while everyone else is still looking for parking.

It’s not about rushing your timeline. It’s about removing the delay between finding the right home and being able to move on it.

One Thing You Need To Know About Pre-Approvals

Speaking of timing, pre-approvals do have an expiration date. So, be sure to ask your lender how long it’s good for. The Mortgage Reports explains:

“Mortgage preapproval letters are typically valid for anywhere from 30 to 90 days. However, a preapproval can be updated and extended if the lender re-checks your information.”

Doing the right prep and knowing this information can make the whole process a lot smoother.

You don’t have to be ready to buy to be ready to buy.

Getting pre-approved doesn’t mean you’re committing to buy right now. It just means you’ve taken a step to understand your numbers. And when a home catches your attention, you’re prepped and good to go.

Bottom Line

Ask yourself this: if your perfect home popped up tomorrow, would you be ready to make a move?

If the answer is no and you want to buy, it may be time to get pre-approved. You don’t feel behind before your search even officially kicks off.

Should You Wait for Lower Rates?

 

Should You Wait for Lower Rates?

Mortgage rates have already dropped into the upper 5s twice this year. But after just a few days, they ticked back up into the low 6% range. If you saw that and thought, “Great. I missed it,” you’re not the only one.

A lot of buyers are treating the 5s like some kind of magic number. As if moving from 6.1% to 5.99% suddenly changes everything. And from a mindset perspective, it does feel different.

But here’s the part most people don’t actually run the math on.

The Payment Difference Isn’t What You Think

Let’s say you’re looking at a $500,000 home loan. At 6.1%, generally speaking, your principal and interest payment is roughly $3,030 per month. At 5.9%, it’s about $2,966 per month.

That’s a difference of only $64 a month.

Not $300.

Not $500.

Sixty dollars.

Let that sink in for just a moment.

Yes, over time that $64 a month can add up. But it’s far from the dramatic swing many buyers imagine when they say they’re “waiting for the 5s.”

The psychological impact of seeing a 5 in front of your rate can feel big. The financial impact? It might be something you don’t even notice when it’s all said and done.

Experts Aren’t Predicting a Big Drop

Another important piece to think about: most housing economists aren’t forecasting a long-term return to 5% territory anytime soon.

While rates will move up and down, likely hitting the high 5s here and there, the broader expectation is for mortgage rates to hover in the low 6% range this year, not stay in the 5’s or decline much more.

While it certainly could happen, the reality is, waiting for a deep drop may not deliver the payoff you’re hoping for, if you’re holding out

The Bigger Question to Ask

Instead of asking, “Did I miss the 5s?” A better question is: “Does today’s payment work for me?” 

If the monthly payment fits comfortably in your budget, and you’ve found a home that meets your needs, the difference between 6.1% and 5.9% likely isn’t the deciding factor. It might be one of them, but it shouldn’t be everything. 

And remember, mortgage rates aren’t permanent. If they drop meaningfully later, refinancing is always an option. But you can’t refinance a home you didn’t buy.

Waiting Might Feel Safe, But It Isn’t Always Strategic

It’s natural to want the best possible rate. Everyone does. But sometimes buyers overestimate how much a rate in the high 5s will change things in today’s market.

Don’t miss the fact that rates have already come down. A year ago, they were in the 7s. Now? They’re hovering in the low 6s. And for a lot of people, that percentage point difference that’s already here is the real game changer.

If you paused your plans when rates were higher, now may be the right time to re-run your numbers. Not because rates are “perfect.” But because the monthly payment math might work better than you think, even with rates in the low 6s. 

Before assuming you’ve missed your moment, take another look at the numbers.

You may find it never disappeared.

Bottom Line

If you’ve been sitting on the sidelines waiting for that magic number for rates, that strategy may not pay off as much as you’d expect.

Let's connect so you can double check the math at your price point. You may realize payments are already within your range.

One Key Sign We’re Not Headed for a Wave of Foreclosures

 

One Key Sign We’re Not Headed for a Wave of Foreclosures

Foreclosures are ticking up. And that may make your mind jump straight to thoughts of 2008 – specifically to what happened to the market during the housing crash. So, let’s do exactly what your brain already wants to do, and see if there’s any connection there.

The simple truth is foreclosure filings are rising. But they’re nowhere near crisis levels. And that’s not where they’re headed either. Here’s why.

Take a look at serious delinquencies – loans where the homeowner is more than 90 days late on their mortgage payments.

While those have increased slightly, data from the New York Fed shows they still remain low. And they aren’t anywhere close to levels seen when the market crashed (see graph below):

Right now, about 1% of mortgages are seriously delinquent. That’s only 1 in 100.

In the years around the crash, they were up around 9%. That’s 1 in 11.

That’s a big difference.

And it’s important to remember not all delinquencies even become foreclosure filings. Some homeowners who are falling behind will work out repayment plans with their banks and lenders because banks don’t want to see a wave of foreclosures either.

That’s why foreclosure numbers are even lower than delinquencies. ATTOM shows only 0.3% of all homes are currently going through a foreclosure filing. And those won’t even all go to a full foreclosure. That’s not a wave. That’s a ripple at most.

If People Are Falling Behind on Payments, Why Aren’t There Even More Foreclosures?

And maybe you’re wondering, if people are struggling financially, why aren’t there more foreclosures? Here’s the easiest way to answer that.

When households feel financial pressure, they tend to prioritize their mortgage payment above almost everything else. Because the last thing they want to lose is their home.

Data from the New York Fed shows serious delinquencies have risen more for credit cards and auto loans (the blue and green lines). But mortgage delinquencies and home equity lines of credit (borrowing against the value of your home) aren’t seeing the same big uptick (the yellow and orange lines). They’re a lot more stable overall.

In other words, people may fall behind on other debts, but they fight hard to keep their homes. And, in today’s housing market, they’re also in a strong equity position to do so.

Home Equity Changes Everything

Many people have built significant equity over the past several years. And that creates options. As Daren Blomquist, VP of Market Economics at Auction.com, explains:

“Distressed homeowners… many times they still have equity in their homes. There’s an opportunity for them to sell that home, avoid foreclosure, and walk away with equity.”

That’s a major difference from 2008. Back then, many homeowners owed more than their homes were worth. And selling wasn’t an easy solution. Today, for many people, it is. And even in situations where equity isn’t enough, homeowners are encouraged to contact their loan servicer early to explore alternatives to foreclosure.

Bottom Line

Are foreclosure filings rising slightly? Yes. Are they anywhere near crash territory? No. And homeowners today have far more equity and flexibility than they did during the crash.

If you’re concerned about what you’re seeing in the headlines, the best move isn’t panic, it’s perspective. And the data right now says this isn’t 2008 all over again.

You Can’t Control What’s Happening with Mortgage Rates. But You Can Control This.

 

You Can’t Control What’s Happening with Mortgage Rates. But You Can Control This.

Mortgage rates have been volatile lately. And if you’re thinking about buying a home, that can make it harder to plan. But there are still things you can do to get the best rate possible in today’s market. It starts with having the right information.

So, what’s causing the bumps in rates? And what can you do about it? Let’s break it down.

Mortgage Rate Volatility Is Normal

Data from Freddie Mac shows the recent volatility. After trending down for well over a year, there was a rise this month (see graph below): 

While it’s easy to be distracted by the changes, here’s what you need to remember.

It’s normal for rates to bounce around a bit here and there. For example, if you look back at the graph, you’ll see that even within the past year there have been times like this when rates inched up. We’re in one of those moments right now and you need to be aware of that.

Especially when there’s economic uncertainty or big global events happening, volatility like this is expected. As Investopedia explains:

“Mortgage rates don’t move in isolation. When global events inject uncertainty into financial markets . . . that can ripple through to borrowing . . . mortgage costs can respond quickly to geopolitical developments. As long as uncertainty remains elevated, rate swings may continue.”

And that’s one of the reasons why trying to time the market isn’t a wise move.

You can’t control what happens with mortgage rates. But there are still things you can do to help you get the best rate possible in today’s market. And here’s where to focus your effort.

Your Credit Score

Your credit score plays a big role in the rate you qualify for. Even a small improvement can make a noticeable difference in your monthly payment. As Bankrate puts it:

“Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

So, make sure you do what you can to keep your credit score up. If you’re not sure what your score is or how you can improve it, talk to a trusted loan officer.

Your Loan Type

There are also different types of home loans – and each one can have unique requirements, benefits, and rates for qualified buyers. The Consumer Financial Protection Bureau (CFPB) explains:

“There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose.”

That’s why it’s so important to explore your options with a lender. You may even want to talk to multiple lenders to see how the options vary.

Your Loan Term

The length of your loan matters too. Most lenders typically offer 15, 20, or 30-year loans. Freddie Mac offers this advice:

“When choosing the right home loan for you, it’s important to consider the loan term, which is the length of time it will take you to repay your loan before you fully own your home. Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.”

Again, to figure out what makes the most sense for your budget and long-term goals, have a lender walk you through all your options.

Bottom Line

Thinking about buying right now? The best advice is to accept that you can’t control where rates are going to go from here.

What you can do is work with a trusted lender and take steps that’ll help you get the best rate possible.

So, if you want to move today, let's make it happen. We just need to control the controllables and focus where it counts.