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Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals.
What’s Happening with Home Prices?
Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says:
“Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”
So why are prices climbing so much? It’s because there are more buyers...
If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power.
Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say...
The first annual Miami Grand Prix begins on Friday, May 6, as the culmination of Miami Race Week 2022. The event has already surpassed both the Super Bowl and Art Basel, which was previously heralded as the biggest revenue draw of the year for Miami-Dade County…
From inside the Miami Grand Prix gates to the nightlife, celebrity sightings, private beachfront dinners, nightclub packages and private jets, we have a comprehensive list of things to do while at the inaugural Miami Race Week 2022…
The city has him now. Emerson Fittipaldi, the Brazilian racing driver who was the youngest ever F1 champion in the 1970’s, was spotted touring a $30 Million penthouse on Miami Beach. To celebrate this and the inaugural Crypto.com Miami Grand Prix, an overview of 7 car themed condo developments in the Miami area…
Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the housing market today, how much you need to save, and where to start.
Here are three things that can help give you the information you need to confidently pursue your dream of homeownership.
1. Consider All Options When the Number of Homes for Sale Is Low
Today, there are far more buyers in the market than there are homes available for...
One of the biggest concerns for a homeowner looking to sell is the time they’ll have to put in before listing their house. If that’s the case for you, you should know – your home might be closer to list-ready than you think in today’s housing market. A survey of recent sellers from realtor.com finds that many were able to get their house ready in less than a month. It says:
“With many homeowners expecting a quick sale, and in many cases a lack of contingencies, the preparation process took less than a month for over 50% of home sellers this past year, with 20% completing it in less than...
Canopy Park, the much-anticipated 3-acre public park associated with Five Park Miami Beach at 5th and Alton is officially open! Here is a breakdown of what to expect from Miami Beach’s newest public park…