Prices continue to rise due to this spring’s lower-than-usual inventory. The slight silver lining for buyers is that mortgage rates have decreased slightly. The median U.S. home sale price reached a record $387,600 during the four weeks ending May 19, up 4% from a year earlier. Weekly average mortgage rates dipped to 7.02% from a
California properties located near wildfire-prone areas have experienced much slower appreciation compared to other regions. The state is currently facing a significant home insurance crisis, with numerous companies either withdrawing from the market or reducing coverage in areas susceptible to wildfires. In May 2023, major insurers State Farm and Allstate announced they would no longer
The journey to stabilize the U.S. housing market faces hurdles, with a modest recovery in home sales and inventories countered by high mortgage rates impacting affordability. Despite increased listings, pending home sales only rose slightly, around 5% to 7% higher than last year through March 2024. Examining broader housing indicators reveals consistent trends, indicating the
Real estate jargon can be a headache. Buyers and sellers face a mountain of terms. It’s tough to get the hang of it, especially when you’re in a rush to sell your home. It’s time to clear up a couple of these terms. Buyers often ask us about “under contract” and “pending.” These words pop
Ah, California! Land of sunshine, stunning coastlines, and dreams. But when it comes to buying a house here, things can get pretty real, pretty fast. This is one of the most significant investment decisions you’re likely going to make during your lifetime, so you need to prepare well. If you don’t do due diligence, you
