Taylor Torkelson

07/27/2023

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.

The ShowingTime Showing Index is a measure of how much buyers are touring homes. It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked in the first half of each year (during the peak homebuying season in the spring) and slowed as each year came to a close.

When the pandemic hit in March of 2020, that trend was disrupted as the market responded to the resulting uncertainty (shown in blue in the middle). From there, we entered the ‘unicorn’ years of housing (shown in pink). This is when mortgage rates were record-low and buyer demand was sky high. Similar seasonal trends still existed ev...

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill.

07/25/2023

If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices? And it’s no surprise you don’t have the clarity you need on that topic. Part of the issue is how headlines are talking about prices.

They’re basing their negative news by comparing current stats to the last few years. But you can’t compare this year to the ‘unicorn’ years (when home prices reached record highs that were unsustainable). And as prices begin to normalize now, they’re talking about it like it’s a bad thing and making people fear what’s next. But the worst home price declines are already behind us. What we’re starting to see now is the return to more normal home price appreciation.

Why This Is So Important to Understand

In the coming months, as the housing market moves further into a more predictable seasonal rhythm, you’re going to see even more headlines that eithe...

If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices?

07/23/2023

According to a recent Gallup poll, real estate has been voted the best long-term investment for 11 years in a row, beating gold, stocks, bonds, and more. Owning real estate means more than just having a home—it’s an investment in your future. That’s because it’s typically a stable and secure asset that tends to increase in value as time goes on. DM me if you’re ready to buy a home and invest in your future.

According to a recent Gallup poll, real estate has been voted the best long-term investment for 11 years in a row, beating gold, stocks, bonds, and more.

07/20/2023

If you’re thinking about buying a home soon, one thing you can do to help you get ready is focus on your credit score. Higher scores can help you get a lower mortgage rate and better loan terms. A loan officer can provide even more strategies to help you improve your credit score. If you're ready to buy now, DM me for other valuable tips on the homebuying process.

07/18/2023

Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.

Rates have been between 6% and 7% pretty consistently for the past nine months.

According to Lawrence Yun, Chief Economist at NAR, mortgage rates play a significant role in buyer demand and, by extension, home sales. Yun highlights the positive impact of stable rates: “Mortgage rates heavily influence the direction of home sales. Relatively steady rates have led to several consecutive months of consistent home sales.”

As a seller, hearing that home sales are consistent right now is good news. It means buyers are out there and actively purchasing homes. Here’s a bit more context on how mortgage rates have impacted demand recently.

When mortgage rates surged dramatically last year, escal...

07/16/2023

Are you a seller worried buyer demand has disappeared because of today’s mortgage rates? Know this: homebuyers are adjusting to the new normal and are still active today. If you’ve been on the fence about selling your home, let’s connect to chat about how your house could still sell quickly in today’s market.

07/13/2023

If you’re working remotely or only going into the office a couple of days, you may not need to limit your homebuying options based on your office’s location. Remote work allows you to broaden your search radius to include more affordable options outside of your traditional commute. DM me today if you’d like to cast a wider net when looking for your next home.

07/11/2023

If you’re in the process of looking for a home today, you know the supply of homes for sale is low because you’re feeling the impact of having a limited pool of options. And, if your biggest hurdle right now is that you’re having trouble finding something you like, don’t forget that a newly built home is a great option.

According to the latest report from the Census, builders are matching the long-term average for completions right now. And residential starts and permits are also gaining momentum. Since both are up, it’s a sign there are even more newly built homes coming soon.

More newly built homes in various stages of the construction process means your pool of options just got bigger. If you’re looking to move right now and timing is important to you, reach out to a local real estate professional to explore the homes that were recently completed in your area. If construction is done on those homes, you shou...

If you’re in the process of looking for a home today, you know the supply of homes for sale is low because you’re feeling the impact of having a limited pool of options.

07/09/2023

Downsizing is a popular choice for homeowners when they retire or when their needs change, but with inflation still high, it’s also a way to reduce costs. Downsizing could help cut down on your expenses and your equity can fuel your move. If you’re thinking about moving to a smaller home, DM me to go over your housing goals and look at your options on our local market.

Downsizing is a popular choice for homeowners when they retire or when their needs change, but with inflation still high, it’s also a way to reduce costs.