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Today’s Housing Market Is Nothing Like 15 Years Ago
Today’s housing market is nothing like the real estate market 15 years ago. If you’re a buyer right now, this may be the chance you’ve been waiting for.
There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.
In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle:
Looking at the facts, it’s clear: today is very different than the housing market of 15 years ago.
There’s Opportunity in Real Estate Today
And in today’s market, with inventory rising and less competition from other buyers, there’s opportunity right now. According to David Stevens, former Assistant Secretary of Housing:
“So be advised…this may be the one and only window for the next few years to get into a buyer’s market. And remember…as the Federal Reserve data shows…home prices only go up and always recover from recessions no matter how mild or severe. Long term homeowners should view this market…right now…as a unique buying opportunity.”
VA Loans Can Help Veterans Achieve Their Dream of Homeownership🏡
Homeownership is the American Dream. Our veterans sacrifice so much in service of our nation, and one way we can honor and thank them is to ensure they have the best information about the benefits of VA home loans. We are here to assist and have worked with some amazing VA lenders; give us a call and we can get you started in achieving your “Home Ownership Dream”.
Thank you for your service.
Debbie & Angie #VA #webringuhome #thankyouforyourservice
The Majority of Americans Still View Homeownership as the American Dream
Buying a home is a powerful decision and a key part of the long-term dream for many Americans. And if homeownership is part of your dreams this year, let’s connect to start the process today.
Let’s explore just a few of the reasons why so many Americans continue to value homeownership.
The Financial Benefits of Owning a Home
One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool, and it provides meaningful financial stability over renting by locking in your monthly housing payments for the length of your home loan.
Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down.
The Non-Financial Benefits of Homeownership
While the financial benefits of owning a home are important, becoming a homeowner impacts you on a social and emotional level, too.
Your home provides feelings of achievement, responsibility, and more. A few non-financial advantages include:
- Providing you with more freedom and control over your living space
- Giving you a greater sense of pride
- Helps with community engagement
What Does That Mean for You?
If your definition of the American Dream involves greater freedom and prosperity, then homeownership could play a major role in helping you achieve that dream. While it may feel challenging to buy a home today as mortgage rates and home prices rise, if the time is right for you, know that there are incredible benefits waiting for you at the end of your journey. You’ll have a place you can grow your wealth, call your own, and feel most comfortable.
Call us today and we can get you started on achieving your dream of Home Owner-ship.
Debbie & Angie
