Real Estate Blog

If you’ve been searching for a home, you’ve likely asked yourself: Why are houses so expensive? It’s a question buyers across the country are asking as they face rising prices and limited options. The answer? Supply and demand. There simply aren’t enough homes available to meet the growing number of buyers. Let’s break down why the housing shortage exists and what it means for the market. 📉 The U.S. Is Millions of Homes Short Housing experts agree that the U.S. is experiencing a significant housing shortage. According to Freddie Mac , the country is short 3.7 million homes —a gap that continues to push prices higher. Other estimates suggest the shortfall is even greater, but most agree that millions of additional homes are needed to restore balance. So, why aren’t there enough homes? Here are the biggest factors at play. 🏗️ Not Enough Homes Are Being Built One of the biggest reasons for the shortage is a decline in new construction following the 2008 financial crisis. During the e...

It’s been a tough couple of years for the real estate market, with both buyers and sellers feeling stuck. Homes sat on the market as buyers were put off by high prices, and wild mortgage rate fluctuations kept many on the sidelines. But according to housing experts, the market is finally showing signs of change — a “thaw” in the real estate Ice Age is on the horizon. A Shift in the Air Mortgage rates are near their lowest point in two years, which could encourage more sellers to put their homes on the market. At the same time, the inventory of available homes is the highest it’s been since the early days of the COVID-19 pandemic. While home prices are still higher than last year, the increase is modest (around 3-5%), which is more typical of a healthy, balanced market. If this trend continues, the coming spring could bring more activity as buyers and sellers start to feel more confident. It’s Not All Sunshine Yet While things are looking up, the housing market is far from “back to norm...