Home Prices Are Back on the Rise [INFOGRAPHIC]

 

Home Prices Are Back on the Rise [INFOGRAPHIC]

Some Highlights

• Looking at monthly home price data from six expert sources shows the worst home price declines are behind us, and they’re rising again nationally.
• If you’ve put your plans to move on pause because you were worried about home prices crashing, this rebound is good news.
• Let’s connect so you know what’s happening with prices in our area.

About 11,000 Houses Will Sell Today

 

About 11,000 Houses Will Sell Today

Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you may believe, buyers are still active and plenty of homes are selling right now.

According to the National Association of Realtors (NAR), based on the pace of sales right now, just over 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:

• 4.16 million homes divided by 365 days in a year = 11,397 houses sell each day
• 11,397 divided by 24 hours in a day = 475 houses sell per hour
• 475 divided by 60 minutes in an hour = about 8 houses sell each minute

So, on average, about 11,000 homes sell each day in this country.

A real estate expert can give you more information about how many houses are being sold in your neighborhood, the amazing advantages that sellers are experiencing right now, and the most important things buyers are searching for in your area. Together you’ll use this knowledge to shape how you market your house based on local trends. 

Bottom Line

If you’ve been waiting to sell because you don’t think there are buyers out there, know today’s market is active. Every day you wait, around 11,000 other homeowners are selling. In the time it took you to read this, eight homes sold. When you’re ready to sell too, let’s connect.

Housing Market Forecast for the Rest of 2023 [INFOGRAPHIC]

 

Housing Market Forecast for the Rest of 2023 [INFOGRAPHIC]

Some Highlights

• Want to know what experts say will happen in the rest of 2023? Home prices are already appreciating again in many areas. The average of the expert forecasts shows positive price growth.
• Where mortgage rates go for the rest of the year will depend on inflation. Based on historical trends, rates are likely to ease as inflation continues to cool.
• Even though low inventory continues to be a challenge, experts project 5 million homes will still sell this year. That pace should pick up if rates come down.