From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer (see graph below):
Additionally, if you’ve been in your house for more than a few years, you’ve likely built-up significant equity that can fuel your next move. That’s because the longer you’ve been in your house, the more likely it’s grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below):
Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024.
As you think about the year ahead, one of your big goals may be moving.
If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates.
If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you.
If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market.
If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in you…
If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in y…
When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed).
Nationally, demand is still high compared to the last normal years in the housing market and plenty of buyers are making moves right now.
The Snyder | Bradshaw Group is led by two real estate veterans who partnered to create an unmatched real estate experience for their clients. Their extensive real estate knowledge and unique approach have forged an elevated level of customer service that benefits their selling clients and buyers alike.