Buying Myths
Life-Changing Events That Move the Housing Market
Life is a journey filled with unexpected twists and turns, like the excitement of welcoming a new addition, retiring and starting a new adventure, or the bittersweet feeling of an empty nest. If something like this is changing in your own life, you may be considering buying or selling a house. That’s because through all these life-altering events, there is one common thread—the need to move.
Reasons People Still Need To Move Today
According to the National Association of Realtors (NAR) there have been a lot of this type of milestone or life change over the last two years (see graph below):
And, these big life changes are going to continue to impact people moving forward, even with the current affordability challenges brought on by higher mortgage rates and rising home prices.
As Claire Trapasso, Executive News Editor at Realtor.com, says:
“Because high mortgage rates, elevated home prices, and stubbornly low inventory make today’s housing market particularly challenging, many of today’s buyers are motivated by life changes, such as growing families, supporting elderly parents or grown children, or accommodating professional needs. . .”
Lean On a Real Estate Professional for Help
Whether you’re beginning your search for a home or preparing to sell your current house, you don’t have to go it alone. With their expertise, a real estate agent is an invaluable partner who can help you smoothly transition through these big moments in your life. Here are just a few examples.
When Buying a Home
If you’re welcoming a new addition and want more space, the need for a new home may be a top priority. While higher home prices and mortgage rates are creating challenges for buyers, you may have to find a way to meet your changing needs, even with today’s mortgage rates.
A skilled real estate agent can help. Their expertise and knowledge of the local housing market can save you a considerable amount of time and stress. An agent will take the time to understand your specific needs, budget, and preferences, allowing them to narrow down your search and present you with suitable options.
When Selling a House
If you’re retiring or going through a separation or divorce, your main focus may be to make the most out of your investment when selling your house, so you can find one that works better for you moving forward.
This is another place where a real estate agent’s expertise truly shines. They can accurately assess your home’s market value, suggest improvements to enhance its appeal, and craft a strategic marketing plan. Their negotiation skills are a big asset when it comes to making sure you get a fair price for your house, allowing you to move on to the next chapter of your life with confidence and peace of mind.
No matter your situation, lean on a trusted professional for help as you buy or sell a home.
Bottom Line
If recent life-changing events have you wanting or needing to move, connect with a local real estate agent.
Some Highlights
- Hiring an agent when buying a home helps you understand the buying process and the local market.
- They’ll also go over contracts and fine print with you, so you understand what you’re agreeing to. Plus, they’re good at negotiating, making sure you get the best deal.
- Expert advice from a trusted real estate professional is priceless. Connect with a local agent today.
One of the biggest hurdles buyers have faced over the past few years has been a lack of homes available for sale. But that’s starting to change.
The graph below uses the latest data from Realtor.com to show there are more homes on the market in 2024 than there have been in any of the past several years (2021-2023):
Does That Mean Finding a Home Is Easier?
The answer is yes, and no. As an article from Realtor.com says:
“There were nearly 15% more homes for sale in February than a year earlier . . . That alone could jolt the housing market a bit if more “For Sale” signs continue to appear. However, the nation is still suffering from a housing shortage even with all of that new inventory.”
Context is important. On the one hand, inventory is up over the past few years. That means you’ll likely have more options to choose from as you search for your next home.
But, at the same time, the graph above also shows there are still significantly fewer homes for sale than there would usually be in a more normal, pre-pandemic market. And that deficit isn’t going to be reversed overnight.
What Does This Mean for You?
You might find a few more choices now than in recent years, but you shouldn’t expect a ton of options.
To help you explore the growing list of choices you have now, team up with a local real estate agent you trust. They can really help you understand the inventory situation where you want to buy. That’s because real estate is local. An experienced agent can share some smart tips they’ve used to help other buyers in your area deal with ongoing low housing supply.
Bottom Line
If you’re thinking about buying a home, team up with a local real estate agent. That way, you’ll be up to date on everything that could affect your move, including how many homes are for sale right now.
In today’s housing market, more and more single women are becoming homeowners. According to data from the National Association of Realtors (NAR), 19% of all homebuyers are single women, while only 10% are single men.
If you’re a single woman trying to buy your first home, this should be encouraging. It means other people are making their dreams a reality – so you can too.
Why Homeownership Matters to So Many Women
For many single women, buying a home isn’t just about having a place to live—it’s also a smart way to invest for the future. Homes usually increase in value over time, so they’re a great way to build equity and overall net worth. Ksenia Potapov, Economist at First American, says:
“. . . single women are increasingly pursuing homeownership and reaping its wealth creation benefits.”
The financial security and independence homeownership provides can be life-changing. And when you factor in the personal motivations behind buying a home, that impact becomes even clearer.
The same report from NAR shares the top reasons single women are buying a home right now, and the reality is, they’re not all financial (see chart below):
If any of these reasons resonate with you, maybe it’s time for you to buy too.
Work with a Trusted Real Estate Agent
If you’re a single woman looking to buy a home, it is possible, even in today’s housing market. You’ll just want to be sure you have a great real estate agent by your side.
Talk about what your goals are and why homeownership is so important to you. That way your agent can keep what’s critical for you up front as they guide you through the buying process. They’ll help you find the right home for your needs and advocate for you during negotiations. Together, you can make your dream of homeownership a reality.
Bottom Line
Homeownership is life-changing no matter who you are. Connect with a local real estate agent to talk about your goals in the housing market.
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