community
Think Twice About Waiting for Lower Home Prices to Happen

As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.

A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent data shows that home prices appear to have bottomed out and are now on the rise again. Selma Hepp, Chief Economist at CoreLogic, reports: “U.S. home prices rose by 0.8% in February . . . indicating that prices in most markets have already bottomed out.”

And the latest data from Black Knight shows the same shift. The graph below compares home price trends in November to those in February:

So, should you keep waiting to buy a home until prices come down? If you factor in what the experts are saying, you probably shouldn’t. The data shows prices are increasing in much of the country, not decreasing. And the latest data from the Home Price Expectation Survey indicates that experts project home prices will rise steadily and return to more normal levels of appreciation after 2023.

The best way to understand what home values are doing in your area is to work with a local real estate professional who can give you the latest insights and expert advice. Contact Brenda Cahoon for all your real estate needs. 

Source: KMC

Here are some other articles you may find useful
1 MIN READ
Agent Snapshot: Brenda Cahoon, Realtor, EXIT Premier Real Estate

https://bostonagentmagazine.com/2019/11/25/agent-snapshot-brenda-cahoon-realtor-exit-premier-real-estate/

SHOW MORE
1 MIN READ
Brenda Cahoon on Channel 5 Chronicle

I was humbled and honored to be asked by the T.V. program Chronicle, aired on Channel 5,  to be interviewed about the Burlington housing market.  If you have any questions about the town of Burlington or are looking to buy or sell in the Bu

SHOW MORE
3 MIN READ
More Homes, Slower Price Growth – What It Means for You as a Buyer

More Homes, Slower Price Growth – What It Means for You as a Buyer There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s look at two

SHOW MORE
1 MIN READ
Agent Snapshot: Brenda Cahoon, Realtor, EXIT Premier Real Estate

https://bostonagentmagazine.com/2019/11/25/agent-snapshot-brenda-cahoon-realtor-exit-premier-real-estate/

SHOW MORE
1 MIN READ
Brenda Cahoon on Channel 5 Chronicle

I was humbled and honored to be asked by the T.V. program Chronicle, aired on Channel 5,  to be interviewed about the Burlington housing market.  If you have any questions about the town of Burlington or are looking to buy or sell in the Bu

SHOW MORE