{"id":1174,"date":"2023-11-28T16:15:14","date_gmt":"2023-11-28T16:15:14","guid":{"rendered":"https:\/\/johnsonteamrealestate.com\/?p=1174"},"modified":"2023-11-29T16:34:16","modified_gmt":"2023-11-29T16:34:16","slug":"are-the-top-3-housing-market-questions-on-your-mind","status":"publish","type":"post","link":"https:\/\/johnsonteamrealestate.com\/index.php\/2023\/11\/28\/are-the-top-3-housing-market-questions-on-your-mind\/","title":{"rendered":"Are the Top 3 Housing Market Questions on Your Mind?"},"content":{"rendered":"\n
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When it comes to what\u2019s happening in the housing market<\/a>, there\u2019s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you\u2019re thinking about making a move<\/a>, that can leave you with a lot of lingering questions. That\u2019s where a trusted local real estate agent<\/a> comes in.<\/p>\n\n\n\n

Here are the top 3 questions people are asking about today\u2019s housing market, and the data to help answer them.<\/p>\n\n\n\n

1. What\u2019s Next for Mortgage Rates?<\/strong><\/h4>\n\n\n\n

Mortgage rates<\/a> are higher than they\u2019ve been in recent years. And, if you\u2019re looking to buy a home, that impacts how much you can afford<\/a>. That\u2019s why so many buyers<\/a> want to know what\u2019s ahead for mortgage rates. The answer to that question is: no one can say for certain, but here\u2019s what we know based on historical trends.<\/p>\n\n\n\n

There\u2019s a long-standing relationship between mortgage rates and inflation<\/a>. Basically, when inflation is high, mortgage rates<\/a> tend to follow suit. Over the past year, inflation was up, so mortgage rates were as well. But inflation is easing now. And this is why the Federal Reserve has recently paused their federal funds rate hikes, which means many experts believe mortgage rates will begin to come down.<\/p>\n\n\n\n

And in some ways, we\u2019ve started to see hints of slightly lower mortgage rates<\/a> in recent weeks. But it\u2019s certainly been volatile and will likely continue to be that way going into next year. Some ongoing variation is to be expected, but the anticipation is, that in 2024, we\u2019ll see a downward trend. As Aziz Sunderji, Strategist at Home Economics,<\/em> says<\/a>:<\/p>\n\n\n\n

\n

\u201cThe bottom line is that interest rates are likely to be lower-perhaps even lower than many optimists think – in the weeks and months to come.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

2. Where Are Home Prices Headed?<\/strong><\/h4>\n\n\n\n

While there\u2019s been a lot of concern<\/a> prices would come crashing down this year, data shows that didn\u2019t happen. In fact, home prices are rising in most of the nation<\/a>. Experts say that trend will continue<\/a>, just at a slower pace that\u2019s much more normal<\/a> for the housing market \u2013 and that\u2019s a good thing.<\/p>\n\n\n\n

To help show just how confident experts<\/a> are in this continued appreciation, take a look at the Home Price Expectation Survey<\/em><\/a> from Pulsenomics<\/em>. It\u2019s a survey of a national panel of over 100 economists, real estate experts, and investment and market strategists. As the graph below shows, the consensus is, that prices will keep climbing next year, and in the years to come.<\/p>\n\n\n\n

\"\"\/<\/a><\/figure>\n\n\n\n

3. Is a Recession Around the Corner?<\/strong><\/h4>\n\n\n\n

While recession talk has been a common thing over the past few years, there\u2019s good news on that front.<\/p>\n\n\n\n

The Wall Street Journal<\/em><\/a> (WSJ) polls experts on this topic regularly. And last year at this time, most of them thought a recession would have happened by now. But as experts look at all the leading indicators today, they\u2019re changing their minds and saying a recession is getting less and less likely. The latest results show that more experts now think we\u2019re not headed for another recession (see chart below<\/em>):<\/p>\n\n\n\n

\"\"\/<\/a><\/figure>\n\n\n\n

This is big news for the housing market<\/a>. And while the 48% to 52% split may seem close to half and half, the key thing to focus on is that the majority of these experts think we\u2019ve avoided a recession already.<\/p>\n\n\n\n

Bottom Line<\/h3>\n\n\n\n

The big takeaway? The data shows there isn\u2019t cause for concern \u2013 there are actually more signs of hope. Connect with Johnson Team Real Estate to talk more about the housing market questions on your mind as we head into the new year.\u00a0You can reach us by calling 360.303.2734 or emailing Info@JohnsonTeamRealEstate.com. <\/p>\n","protected":false},"excerpt":{"rendered":"

When it comes to what\u2019s happening in the housing market, there\u2019s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you\u2019re thinking about making a move, that […]<\/p>\n","protected":false},"author":1,"featured_media":1176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1174","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized","8":"entry"},"featured_image_src":"https:\/\/johnsonteamrealestate.com\/wp-content\/uploads\/2023\/11\/Johnson-Team-6-600x400.jpg","featured_image_src_square":"https:\/\/johnsonteamrealestate.com\/wp-content\/uploads\/2023\/11\/Johnson-Team-6-600x600.jpg","author_info":{"display_name":"fawn","author_link":"https:\/\/johnsonteamrealestate.com\/index.php\/author\/fawn\/"},"_links":{"self":[{"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=1174"}],"version-history":[{"count":1,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1174\/revisions"}],"predecessor-version":[{"id":1175,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1174\/revisions\/1175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/media\/1176"}],"wp:attachment":[{"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=1174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=1174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=1174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}