Friday, January 17, 2025 / by Joyce Dungca
Some Highlights
Wondering what to expect when you buy or sell a home this year? Here’s what the experts say lies ahead.
Mortgage rates are projected to come down slightly. Home prices are forecast to rise in most areas. And, there will be more homes available for sale.
Want to know more about what this could mean for your plans this year? Let’s connect to discuss your 2025 goals. ...
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team raj jaggi, buyers, sellers, housing market, mortgage rates, home prices
Wednesday, January 15, 2025 / by Joyce Dungca
Are you hesitant to sell your house because you’re worried no one’s buying with rates and prices where they are right now? Here’s some perspective that can help.
The market actually isn’t at a standstill. While there weren’t as many sales last year as there’d be in a normal market, roughly 4.15 million homes still sold (not including new construction), according to the National Association of Realtors (NAR). And the expectation is that number will rise in 2025. That means more people will likely move this year, and they need homes to buy. Homes like yours.
But even if we only match last year’s sales pace, here’s what that looks like.
Every Minute Homes Are Selling – Literally
4.15 million homes ÷ 365 days in a year = 11,370 homes sell each day
11,370 homes ÷ 24 hours in a day = 474 homes sell per hour
474 homes ÷ 60 minutes = roughly 8 homes sell every minute
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team raj jaggi, buyers, sellers, housing market, mortgage rates
Friday, January 10, 2025 / by Joyce Dungca
Some Highlights
Experts say rates will come down slightly in the year ahead – but some volatility is expected. So, you shouldn't try to time the market.
Instead, it's better to focus on how even a small change impacts your future mortgage payment. As rates come down, even a little bit, your monthly payment on your next home will too.
Want to see what this looks like at a different price point? Let’s connect. ...
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team raj jaggi, buyers, sellers, mortgage rates
Thursday, December 5, 2024 / by Joyce Dungca
Today’s mortgage rates and home prices may have you second-guessing whether it's still a good idea to buy a home right now. While market factors are definitely important, there’s also a bigger picture to consider: the long-term benefits of homeownership.
Think of it this way. If you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. That’s because over time, home values usually grow – and that means a homeowner’s net worth does too. Here's a look at how that can really add up over the years.
Home Price Growth over Time
The map below uses data from the Federal Housing Finance Agency (FHFA) to show how much prices have grown over the last five years. Since home prices vary by area, the map is broken out regionally to really showcase larger market trends:
You can see that nationally, home prices increased by over 57% in j; ...
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team raj jaggi, buyers, sellers, mortgage rates, home prices, homeownership
Wednesday, December 4, 2024 / by Joyce Dungca
One of the biggest questions on everyone’s minds right now is: when will mortgage rates come down? After several years of rising rates and a lot of bouncing around in 2024, we’re all eager for some relief.
While no one can project where rates will go with complete accuracy or the exact timing, experts offer some insight into what we might see going into next year. Here’s what the latest forecasts show.
Mortgage Rates Are Expected To Ease and Stabilize in 2025
After a lot of volatility and uncertainty, the most updated forecasts suggest rates will start to stabilize over the next year, and should ease a bit compared to where they are right now (see graph below):
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
“While mortgage rates remain elevated, they are expected to stabilize.”
Key Factors That’ll Impact the Future of Mortgage Rates
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team raj jaggi, buyers, sellers, mortgage rates
