Last year, there was a whirlpool of media predictions insisting that 2023 would witness a significant plummet in home prices, brewing anxiety and raising questions of a possible echo of the 2008 housing crash. However, these projections largely missed the mark. Indeed, following the extravagant home

If you've taken a scenic drive through towns like Scarborough or Gorham recently, you might've noticed changes in the real estate landscape. But with the NAR's upcoming EHS report, you could be scratching your head. It's hinting at a dip in home prices, yet you've read elsewhere that home values are

Navigating today's housing scene, two factors are throwing prospective buyers off balance: the steeper mortgage rates compared to the recent past, and escalating home prices due to scarce inventory. Tackling these hurdles, many in places like Portland and Wells are teaming up with agents to discover

You might have felt the ripple of concern sweeping through neighborhoods in Southern Maine, from the shores of Wells to the bustling streets of Portland. Will the home prices drop significantly? It's a question that's been on the minds of many residents. But here's the silver lining: based on month

Key Takeaways: Home Prices on the Rise: As per expert analysis, various regions are already observing a hike in home prices. The general consensus among experts predicts an optimistic rise in property prices as 2023 unfolds. Mortgage Rates Tied to Inflation: The trajectory of mortgage rates for

It might not be the wild and feverish market reminiscent of those 'unicorn' days, but in Southern Maine, particularly places like Portland and Scarborough, homes priced right are flying off the shelves. The limited number of homes up for grabs is a driving factor. Here's an interesting stat: The Nat

  Whether you are planning to buy or sell a property, understanding home prices is likely a top concern. It's not surprising if you are finding it hard to get a clear picture, given the confusing way headlines are addressing the issue. Many media outlets frame their narratives negatively by comparin

  In today's news cycle, you may be feeling a bit of unease about the current state of home prices, questioning if the worst is yet to come. Such anxiety stems from today's headlines often depicting an overly negative narrative. However, when we compare the year-over-year data, it's true that home p

  When it comes to selling your house, you want three things: to sell it for the most money you can, to do it in a certain amount of time, and to do all of that with the fewest hassles. And, while the current housing market is generally favorable to sellers due to today’s limited housing supply, the

If you've been giving buying a home some thought, you've probably been frequently monitoring every piece of news about the housing market you can get your hands on. News outlets, social media, chats with your real estate agent, or even casual supermarket conversations - they're all sources of insigh

  In light of the recent increase in mortgage rates, inflation, and talks of a potential economic downturn, many prospective homebuyers are left wondering: is buying a home this year still a sound decision? Despite the unique challenges that this year brings, it's crucial to keep in mind the endurin

This week, we are anticipating the latest Existing Home Sales (EHS) report from the National Association of Realtors (NAR), a monthly deep dive into the sales volume and price trajectory of pre-owned homes. The forecast suggests a decline in home prices, which may seem perplexing if you've been keep

  You might be seeing news discussing a decrease in homeowner equity. It's crucial to note that equity is closely linked to the value of homes. When home prices increase, so does equity, and vice versa. Let's look at how this dynamic has unfolded recently. During the 'unicorn' years, home prices sur

  Deciphering media narratives surrounding home prices can be a complex task. The main source of confusion stems from the data being used and the aspects they choose to highlight. Home prices, especially in dynamic markets such as those found in Cumberland and York Counties of Southern Maine, are of

Breaking It DownNavigating through housing market statistics from one year to the next can be a bit of a puzzle in a typical market. And the last few years? They've been anything but typical, earning the label of 'unicorn' years. In the coming year, be ready for some startling headlines about the h

  Last year's final quarter was filled with doomsday predictions about a potential crash in home prices. Renowned financial experts and institutions like Jeremy Siegel from the Wharton School of Business, Mark Zandi, Chief Economist at Moody's Analytics, and Goldman Sachs all had ominous forecasts:

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compare

The National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, whi

If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. Contrary to those headlines, home prices aren’t in a freefall. The

  Some Highlights While home prices vary by local area, they’ve already hit their low point nationally, and now they’re starting to rise again. Last July, prices started to decline, but around February, they began climbing back up. If you put your plans to move on hold waiting to see what would ha