CT Home Pro

08/23/2023

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side.

08/21/2023

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.

So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each one. NAR reports on the median home sales price, while some other sources use repeat sales prices.

Bill McBride, Author of the Calculated Risk blog, sums the difference up like this: “Median prices are distorted by the mix and repeat sales indexes like Case-Shiller and FHFA are probably better for measuring prices.”

To drive this point home, here’s a simple explanation of median value. Let’s say you have three coins in your pocket, and you decide to line them up according to their value from low to high. If you have one nickel and two dimes, the median value (the middle one) is 10 cents. If you have two nickels and one dime, the median value is now five cents.

In both cases, a nickel is still worth five cents and a dime is still worth 10 cents. The value of each coin didn’t change.

That’s why using the median home sales price as a gauge of what’s happening with home values may be confusing right now.

For a more in-depth understanding of home price trends and reports, DM me.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow.

08/04/2023

Want to know what experts say will happen in the rest of 2023?

08/02/2023

If you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.

08/01/2023

🏡🎉 Congratulations to our fantastic clients on the purchase of their new home! 🔑🎉 We are thrilled to have been a part of this journey and couldn't be happier for you. Wishing you countless happy memories and a lifetime of joy in your beautiful new abode! 🏠❤️

07/31/2023

🏡🔑 We are thrilled to announce that our dynamic realtor team has successfully SOLD another fantastic home! 🎉🏡 With expert guidance, personalized service, and a passion for real estate, Aaron and Kathleen helped their clients sell their Bristol home quickly and at a great price. 🌟🏠 The journey of selling a house is a special one, and we're honored to be a part of it. From start to finish, our team's commitment remains unwavering. Thank you to our amazing clients for trusting CT Home Pro with their real estate goals. Cheers to new beginnings and endless possibilities! 🥂🔑

07/27/2023

Congrats to our Sellers! From Listing to Under Contract in less than ONE WEEK!

07/27/2023

While home prices did fall a bit this year, the worst is already behind us. Nationally, prices have already rebounded and they’re expected to continue to tick up. That means if you buy a home now, it should grow in value. But if you wait, that same home is going to cost you more later. DM me if you’re ready to take the first step toward buying your next home.

07/26/2023

Persistent low housing inventory has carved out a sweet spot for sellers. This means it’s a great time to sell because houses that are priced right are still seeing multiple offers and selling quickly. If you’re ready to list your house, DM me so you can capitalize on today’s market and find your next dream home.

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 either get what’s happening with home prices wrong or, at the very least, are misleading.

They’re going to mistake the slowing home price growth (deceleration of appreciation) that’s typical of market seasonality in the fall and winter and think prices are falling (depreciation). Don’t let those headlines confuse you or spark fear. Instead, remember it’s normal to see a deceleration of appreciation, slowing home price growth, as the months go by.

If you have questions about what’s happening with home prices in our local area, DM me.

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?

06/30/2023

An agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process. They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed at the contracts and disclosures involved. DM me to ensure you have an expert helping you sell your house successfully.

An agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process.

06/29/2023

Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You're not alone, but there’s some good news that may ease your worries. New home construction is up and is becoming an increasingly significant part of the housing inventory.

That means when you go to put your house on the market this summer, considering newly built homes is crucial for expanding the options you’ll have for your next move.

Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), highlights the importance of newly built homes for those looking to buy in today’s housing market. Dietz states, "With limited available housing inventory, new construction will continue to be a significant part of prospective buyers' search in the quarters ahead."

Don’t overlook this growing market segment and risk missing out on great opportunities to find your ideal home. Since new home construction accounts for roughly 31% of total for sale inventory, you could be cutting nearly one in three options from your search if you don’t consider newly built homes.

Now’s the time to sell your house and take advantage of the momentum that’s building in new home construction. DM me so you have a guide throughout the selling and buying process. Together, we can make your transition to a newly built home a reality.

Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market?