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Things to Consider When Buying a Home
- The Return of Normal Seasonality for Home Price Appreciation
- The Impact of Changing Mortgage Rates
- Ways To Overcome Affordability Challenges in Today’s Housing Market
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If you’re keeping up with the news, you might be a bit confused about what’s happening with home prices. Well, know this: despite what you may have heard, they’re not going down. In fact, it’s just the opposite. National data from several sources says home prices have been going up consistently since early 2023.
But it's important to know prices differ depending on where you live. Overall, the limited supply of homes for sale and ongoing buyer demand are going to keep upward pressure on prices. As Freddie Mac states:
“Overall, it appears the reduction in supply has outweighed the decrease in demand, thus house prices have started to increase . . .”
So, with prices going up again, if you find a home that suits your needs, it’s probably not the best idea to wait.
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