Recent headlines have been buzzing about a decline in the median asking price of homes compared to last year, leading to confusion among buyers and sellers alike. It’s easy to assume that this signals a drop in prices, but there's more to the story than what those numbers suggest.
The Bigger Picture: Home Values Are Rising
Despite a slight decrease in median prices, national home values are actually on the rise. Let’s break down the situation to help you navigate the market without falling prey to sensational headlines.
Smaller Homes Are Influencing Median Prices
One major factor contributing to the dip in the median price is the size of homes currently on the market. The median price reflects the midpoint of all homes for sale, and changes in the mix of homes available can significantly affect this figure.
To illustrate this concept, consider a simple example of three coins: if you have one nickel and two dimes, the median value is 10 cents. But if the mix changes to . ...

Watching your home sit on the market without interest can be incredibly frustrating, and many sellers are facing this challenge today.
Data from the National Association of Realtors (NAR) shows that the average time homes spend on the market has increased in recent years:
A recent post from Realtor.com highlights a similar trend:
“During the week ending Sept. 14, homes remained on the market eight days longer than last year. With more options available and mortgage rates expected to decrease, buyers are taking their time. This means sellers need to be patient and flexible.”
The increase in inventory gives buyers more choices, while rising mortgage rates have dampened demand over the past two years—factors largely out of your control. However, there’s one critical aspect you can influence: working with the right agent.
With the right strategy and a skilled agent by your side, your home can still sell quickly, even in today’s market.
If time is a prior. ...

If you're considering downsizing, you might be exploring 55+ communities and wondering if they’re the right fit for your lifestyle. Here's some information to help you make an informed decision.

What Is a 55+ Community?

These communities aren’t just for those needing extra support—they can be quite lively and engaging! Many people choose to downsize into these communities to be surrounded by others in a similar stage of life. U.S. News describes them as follows:

“The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities,’ and ‘planned communities’ refer to settings designed for adults over the age of 55 who are independent but looking to downsize and live among peers with similar interests.”

Why You Should Consider This Type of Home

If this appeals to you, it’s worth noting that the number of 55+ community listings has increased by over 50% compared to last year, acc. ...

If you’ve been following the housing market recently, you know sellers have held the upper hand. But with inventory on the rise, is that dynamic starting to change? Here’s what you need to know.
Understanding a Balanced Market
A balanced market typically has a five-to-seven-month supply of homes for sale, where neither buyers nor sellers have a clear advantage. In such a market, prices stabilize, and there’s a healthier selection of homes. After years of a seller’s market, a shift toward balance would be welcome news for buyers. But are we heading there?
At the beginning of the year, the national inventory stood at a three-month supply, and now it has grown to four months. While that doesn’t yet indicate a balanced market, it shows we’re moving closer. However, this rise in inventory isn’t leading to an oversupply or a market crash. The supply is still insufficient for such a scenario.
The chart below, using data from the National Associati. ...

Deciding what to do with your house when you're ready to move can be a significant decision. Should you sell it and use the proceeds for your next adventure, or keep it as a rental to build long-term wealth?
This is a common dilemma for many homeowners, and the answer isn't always simple. Whether you're curious about potential rental income or concerned about the responsibilities of being a landlord, there are many factors to consider.
Let’s explore some key questions to help you determine the best course of action for your situation.
Is Your House Suitable for Renting?
Even if you're interested in becoming a landlord, your current home might not be ideal for renting. Perhaps you're moving far away, making it challenging to manage maintenance, the neighborhood isn't conducive to rentals, or the house requires significant repairs before it can be rented out.
If these issues resonate with you, selling might be the more practical option.
Are You Prepared for the Realities of B. ...