The HousingCoach℠ - Matt McGrath

Paused Your Moving Plans? Here’s Why It’s Time To Hit Play Again

by The HousingCoach℠ - Matt McGrath | Apr 28, 2025

It’s not really a surprise that 70% of buyers paused their home search last year. Maybe you were one of them. And if so, no judgment. Conditions just weren’t great.

Inventory was too low, prices were too high, and mortgage rates were bouncing all over. That made it really hard to find a home you loved – and could afford. And why sell if you’re not sure where you’re going to go?

But here’s the thing: the market’s shifting. And it might be time to hit play again.

The Inventory Sweet Spot

More homeowners are jumping back into their search to make a move this year. Builders are finishing more homes. And together, that’s creating more options for you when you move – maybe even the home you’ve been waiting for.

More homes = more possibilities.

But there’s more to it than that. When you sell, you don’t want to feel like it’s impossible to find your next home. At the same time, you also don’t want inventory to be so high, it takes ages for your house to sell. Right now, you’ll get the best of both worlds.

This data will help paint the picture for you. According to Realtor.com, inventory has jumped 28.5% since this time last year, but it’s still below pre-pandemic levels in most markets – and here’s why this is such a sweet spot (see graph below):

Basically, there are more homes to choose from when you make your move, but not so many that you’ll struggle to sell your current house. Your home should sell quickly if you work with an agent to make sure it’s priced right and prepped to impress.

More options. Less chaos. Solid demand: That’s the real sweet spot.

But here’s something else to consider. Data from Realtor.com also shows inventory has been on the rise for 17 straight months. And experts agree it’s likely to continue climbing throughout the year. As Lance Lambert, Co-Founder of ResiClub explains:

“The fact that inventory is rising year-over-year . . . strongly suggests that national active housing inventory for sale is likely to end the year higher.”

So, this may actually be the best time to sell. Your house may stand out more now than it would as the year goes on and inventory grows even more. Wait too long, and you may be one of many trying to stand out later this year.

Bottom Line

If you’ve been waiting for the housing market to give you a sign – it just did. Whether you’re looking to move up, scale down, or relocate completely, this might be the best balance we’ve seen in a while.

What’s holding you back from taking advantage of this sweet spot? Connect with an agent to talk through it and see what’s possible.

You Finally Have More Options for Your Move

by The HousingCoach℠ - Matt McGrath | Apr 25, 2025

Some Highlights

If you put your home search on hold because you couldn’t find anything you liked in your budget, it’s time to try again.
There’s a much wider selection of homes for sale, with more fresh listings hitting the market each month.
With more options come more possibilities. Connect with an agent if you want to see what’s available in your area.

Should I Buy a Home Now or Wait?

by The HousingCoach℠ - Matt McGrath | Apr 24, 2025

At some point, you’ve probably heard the saying: “Yesterday was the best time to buy a home, but the next best time is today.”

That’s because homeownership is about the long game – and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works.

Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you. And you deserve to understand why.

Forecasts Say Prices Will Keep Climbing

Each quarter, over 100 housing market experts weigh in for the Home Price Expectations Survey from Fannie Mae, and they consistently agree on one thing: nationally, home prices are expected to rise through at least 2029.

Yes, the sharp price increases are behind us, but experts project a steady, healthy, and sustainable increase of 3-4% per year going forward. And while this will vary by local market from year to year, the good news is, this is a much more normal pace – a welcome sign for the housing market and hopeful buyers (see graph below):

And even in markets experiencing more modest price growth or slight short-term declines, the long game of homeownership wins over time.

So, here’s what to keep in mind:

Next year’s home prices will be higher than this year’s. The longer you wait, the more the purchase price will go up.
Waiting for the perfect mortgage rate or a price drop may backfire. Even if rates dip slightly, projected home price growth could still make waiting more expensive overall.
Buying now means building equity sooner. When you play the long game of homeownership, your equity rewards you over time.

What You’ll Miss Out On

Let’s put real numbers into this equation, because it adds up quickly. Based on those expert projections, if you bought a typical $400,000 home in 2025, it could gain nearly $80,000 in value by 2030 (see graph below):

That’s a serious boost to your future wealth – and why your friends and family who already bought a home are so glad they did. Time in the market matters.

So, the question isn’t: should I wait? It’s really: can I afford to buy now? Because if you can stretch a little or you’re willing to buy something a bit smaller just to get your foot in the door, this is why it’ll be worth it.

Yes, today’s housing market has challenges, but there are ways to make it work, like exploring different neighborhoods, asking your lender about alternative financing, or tapping into down payment assistance programs.

The key is making a move when it makes sense for you, rather than waiting for a perfect scenario that may never arrive.

Bottom Line

Time in the Market Beats Timing the Market.

If you’re debating whether to buy now or wait, remember this: real estate rewards those who get in the market, not those who try to time it perfectly.

Want to take a look at what’s happening with prices in your local area? Whether you’re ready to buy now or just exploring your options, having a plan in place can set you up for long-term success.

What’s Your House Worth Now? The Answer May Surprise You

by The HousingCoach℠ - Matt McGrath | Apr 23, 2025

Let’s talk about something you might not check nearly as often as your bank account – and that’s how much your home is worth. But when it comes to your financial situation, it’s an important thing to remember. When’s the last time you had a professional show you the value of your home?

Think about it. For most people, your house is probably the biggest asset you have. And if you’ve owned your home for a few years (or longer), chances are it’s been quietly building wealth for you in the background. And honestly? You might be surprised by just how much.

What Is Home Equity?

This wealth you may not even realize you have comes in the form of home equity. Home equity is the difference between what your house is worth and what you still owe on your mortgage. It grows over time as home values rise and as you pay down your mortgage each month. Here’s an example to help you really understand how this works.

Let’s say your house is now worth $500,000, and you have $200,000 left to pay off on your loan. That means you have $300,000 in equity. And most homeowners are sitting on some pretty significant equity right now.

According to Cotality (formerly CoreLogic), the average homeowner with a mortgage has about $311,000 in equity.

Why You Probably Have More Than You Think

Here are the two main reasons homeowners like you have record amounts of equity right now:

1. Significant Home Price Growth. According to the Federal Housing Finance Agency (FHFA), home prices have jumped by more than 57% nationwide over the last five years (see map below):

And if you purchased your home a few years ago (or more), this means your house is likely worth much more now than when you first bought it, thanks to how much prices have climbed lately.

2. People Are Living in Their Homes Longer. Data from the National Association of Realtors (NAR), shows the average homeowner stays in their home for about 10 years now (see graph below):

That’s longer than it used to be. And over that decade? You’ve built equity just by making your mortgage payments and riding the wave of rising home values.

So, if you’re one of those people who’s been in their home for that long, here’s how much the behind-the-scenes price growth has helped you out. According to NAR:

“Over the past decade, the typical homeowner has accumulated $201,600 in wealth solely from price appreciation.”

What Could You Actually Do with That Equity?

Remember, your house might be your biggest financial asset – and, if you’re smart about how you leverage your equity, it could open up some exciting opportunities for your future.

Use it to help buy your next home. Your equity could help you cover the down payment on your next home. In some cases, it might even mean you can buy your next house in all cash.
Renovate your current house to better suit your life now. And, if you’re strategic about your projects, they could add even more value to your home if you do sell later on.
Start the business you’ve always dreamed of. Your equity could be exactly what you need for startup costs, equipment, or marketing. And that could help increase your earning potential, so you’re getting yet another financial boost.

Bottom Line

Chances are, your house is worth a lot more than you realize. Whether you’re thinking about selling, upgrading, or simply want to understand your options, your equity isn’t just a number. It’s a tool.

If you sold your house and had significant equity to work with, what would you do with it? Connect with an agent to figure out how to turn your home’s value into your next big move.

What You Can Do When Mortgage Rates Are a Moving Target

by The HousingCoach℠ - Matt McGrath | Apr 22, 2025

Have you seen where mortgage rates have been lately? One day they go down a little. The next day, they go back up again. It can feel confusing and even frustrating if you’re trying to decide whether now’s a good time to buy a home.

Take a look at the graph below. It uses data from Mortgage News Daily to show that after a relatively stable month of March, mortgage rates have been on a bit of a roller coaster ride in April:

This kind of up-and-down volatility is expected when economic changes are happening.

And that’s one of the reasons why trying to time the market isn’t your best move. You can’t control what happens with mortgage rates. But you’re not powerless. Even with all the economic uncertainty right now, there are things you can do.

You can control your credit score, loan type, and loan term. That way, you can get the best rate possible in today’s market.

Your Credit Score

Your credit score can really affect the mortgage rate you qualify for. Even a small change in your score can make a big difference in your monthly payment. Like Bankrate says:

“Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

Keeping your credit score up is key when it comes to qualifying for a home loan. If you’re not sure where your score stands or how to improve it, talk to a loan officer you trust.

Your Loan Type

There are also different types of loans out there, and each one comes with unique requirements for qualified buyers. The Consumer Financial Protection Bureau (CFPB) explains:

“There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose. Talking to multiple lenders can help you better understand all of the options available to you.”

Always work with a mortgage professional to figure out which loan makes the most sense for you and your financial situation.

Your Loan Term

Just like there are different loan types, there are also different loan terms. Freddie Mac puts it like this:

“When choosing the right home loan for you, it’s important to consider the loan term, which is the length of time it will take you to repay your loan before you fully own your home. Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.”

Most lenders typically offer 15, 20, or 30-year conventional loans. Be sure to ask your loan officer what’s best for you.

Bottom Line

You can’t control what’s happening with the economy or mortgage rates, but you can take steps that’ll help you get the best rate possible.

Connect with a local real estate agent and a lender to talk about what you can do today to put yourself in a strong spot for when you’re ready to buy a home.