Considering buying or selling a home amidst today’s challenging affordability landscape? It’s true that mortgage rates have risen, and home prices are soaring. Take a look at our breakdown to understand the current affordability situation compared to recent years.

The National Association of Realtors (NAR) simplifies the data: a value of 100 means a family with a median income can qualify for a mortgage on a median-priced home. The orange bar on the graph indicates higher mortgage rates and home prices, posing a challenge to affordability.

Market Activity Amidst Challenges

Despite tighter affordability, the housing market remains active. NAR predicts nearly 4 million homes will sell this year. Breaking it down, over 10,000 homes sell each day, emphasizing that movement persists even in challenging times.

Your Move, By the Numbers

Wondering how this impacts you? With around 8 homes selling every minute, there are still opportunities for both buyers and sellers. Whether adjusting your search parameters or considering alternative housing types, possibilities exist with strategic planning.

Leveraging Expert Guidance

In the face of today’s challenges, working with a trusted local real estate agent is a game-changer. These professionals offer tailored advice based on your needs, budget, and preferences. Their insights, drawn from current market dynamics, can guide you to successful outcomes.

Proactive Approach 

Contrary to assumptions, the housing market is not at a standstill. Despite increased costs, people are still making their real estate goals a reality. The key lies in tapping into the expertise of skilled local real estate agents who navigate challenges and provide valuable assistance.

Connect with a Professional 

Ready to make your move? Connect with a trusted mortgage specialist. Whether you’re buying or selling, expert guidance can turn your goals into reality even in a market with affordability challenges.