Infographics | The HousingCoach

There’s No Foreclosure Wave in Sight [INFOGRAPHIC]

Headlines saying foreclosures are rising might make you feel uneasy. But the truth is, there’s no need to worry.
If you look at the latest numbers, they’re still below pre-pandemic norms and way below what happened during the crash.
If you’re worried about a flood of foreclosures, the data shows a foreclosure crisis is not where the market is today and is not where it’s headed.

Home affordability depends on three factors: mortgage rates, home prices, and wages.
Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual.
That’s good news if you want to buy a home because it means affordability is getting better.

Buying a home is a big deal and can feel especially complicated if you don’t know the terms used during the process.
If you want to become a homeowner this year, it’s a good idea to learn these key housing terms and understand how they relate to the current housing market. That will help you feel confident when you buy a home.
Connect with a local real estate agent so you can get expert help with any questions you have.

If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.
Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years.
If you’re worried about falling home prices, don’t be. Many experts forecast they’ll keep rising for years to come. If you have questions, ask a local real estate agent.

Planning to buy a home in 2024? Here’s what to focus on.
Improve your credit score, plan for your down payment, get pre-approved, and decide what’s most important to you.
Partner with a trusted real estate agent so you have expert advice on how to achieve your homebuying goals this year.

When it comes to selling your house, the expertise of a trusted real estate agent can make a big difference.
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 in the contracts and disclosures involved.
Partner with a trusted real estate professional so you have expert advice throughout the entire process.