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As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling.
There are plenty of good reasons you might be ready to move. No matter <a href="https://www.simplifyingthemarket.com/2023/01/02/what-are-your-goals-in-the-housing-market-this-year/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">your motivations</a>, before you list your current house, you need to consider where you’ll go next.
Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.
If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the <a href="https://www.simplifyingthemarket.com/2023/01/10/the-truth-about-negative-home-equity-headlines/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">stories</a> in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s <a href="https://www.simplifyingthemarket.com/2023/01/11/todays-housing-market-is-nothing-like-15-years-ago/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">happening today</a>. Here’s a deeper look.
If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the <a href="https://www.simplifyingthemarket.com/2023/01/10/the-truth-about-negative-home-equity-headlines/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">stories</a> in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s <a href="https://www.simplifyingthemarket.com/2023/01/11/todays-housing-market-is-nothing-like-15-years-ago/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">happening today</a>. Here’s a deeper look.
If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to <a href="https://www.simplifyingthemarket.com/2023/01/09/what-experts-are-saying-about-the-2023-housing-market/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">experts</a>, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at <em>CoreLogic</em>, <a href="https://www.corelogic.com/intelligence/u-s-home-price-insights-january-2023/">shares</a>:
Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of <a href="https://www.simplifyingthemarket.com/2023/01/05/3-best-practices-for-selling-your-house-this-year/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">selling</a> your house soon, that means you’ll want to adjust your expectations accordingly. As <em>realtor.com</em> <a href="https://www.realtor.com/advice/sell/home-selling-rules-youve-heard-lately-that-you-might-want-to-break/">explains</a>:
One of the first steps in your <a href="https://www.simplifyingthemarket.com/2023/01/06/tips-to-reach-your-homebuying-goals-in-2023-infographic/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">homebuying journey</a> is getting pre-approved. To understand why it’s such an important step, you need to understand what <a href="https://www.simplifyingthemarket.com/2022/12/26/financial-fundamentals-for-first-time-homebuyers/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">pre-approval</a> is and what it does for you. <em>Business Insider </em><a href="https://www.businessinsider.com/personal-finance/mortgage-preapproval">explains</a>:
In this crazy market, time is money! Don't hesitate to contact Penny, she is ready to go to work for you today!
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