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.
For Buyers
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.
If you’re thinking about buying a home, you might be focusing on previously owned ones. But with so few houses for sale today, it makes sense to consider all your options, and that includes a home that’s newly built.
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.
Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for.
![How To Win as a Buyer in Today’s Housing Market [INFOGRAPHIC] Simplifying The Market](https://files.simplifyingthemarket.com/wp-content/uploads/2023/02/09132525/How-To-Win-As-A-Buyer-In-Todays-Housing-Market-KCM-Share.png)
Some Highlights
- In today’s housing market, you can still be the champion if you have the right team and strategy.
- To win as a buyer, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd.
67% of Americans say a housing market crash is imminent in the next three years. With all the talk in the media lately about shifts in the housing market, it makes sense why so many people feel this way. But there’s good news. Current data shows today’s market is nothing like it was before the housing crash in 2008.
As we celebrate Black History Month, we reflect on the past and present experiences of Black Americans. This includes the path toward investing in a home of their own. And while equitable access to housing has come a long way, homeownership can be a steeper climb for households of color. It’s an important experience to talk about, along with how it can make all the difference for diverse homebuyers to work with the right real estate experts.
![You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC] Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2023/02/01165833/You-May-Not-Need-As-Much-As-You-Think-For-Your-Down-Payment-KCM-Share.png)
Some Highlights
- Many people believe you need to put down 20% of the purchase price when you buy a home. But recent homebuyers actually put down far less on their purchase.
- And with programs like FHA loans, VA loans, and USDA loans, some qualified buyers are able to put down as little as 0-3.5%.
The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.
![Homeownership Builds Your Wealth over Time [INFOGRAPHIC] Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2023/01/26131727/Homeownership-Builds-Your-Wealth-In-The-Over-Time-KCM-Share.png)
Some Highlights
- If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.
- On average, nationwide, home prices appreciated by 288.7% over the last 32 years. That means homeowners grow their net worth significantly in the long term.