Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what’s ahead.

View the Orange County local real estate market reports for July 2024!

Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place.

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.

If you’re looking to buy your first home, you’re likely balancing several factors. Because both mortgage rates and home prices have risen this year, it costs more to buy a home than it did even just a few months ago. But that doesn’t mean you have to put your plans on hold.

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.

The recent pullback in mortgage rates is great news – but if you’re ready to buy now, holding out for 3% is a mistake.

Even with ultra-low demand, the Orange County housing market lines up in favor of sellers due to the persistent lack of supply.

If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market.

Many buyers are looking for a deal or waiting for the housing market to crash before they purchase, but that is not going to happen anytime on the horizon. The insane, instantaneous housing market may be gone, yet with an Expected Market Time of 67 days, Orange County is still a Slight Seller’s Market.

While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still going up. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now?

For homeowners looking to sell in 2022, the window of opportunity is closing as the inventory climbs, demand falls, and market times grow longer.

Many believe that the rapidly slowing housing market will lead to crashing home values, yet the facts do not support this theory.

Are you thinking about selling your current home? If so, the biggest question on your mind may be: if I sell now, where will I go? If this resonates with you, there’s something you should know. The number of homes coming onto the market is increasing and that could make it easier for you to move up this summer.

It’s important to note that Google searches about a housing bubble don’t cause bubbles, nor do they reflect hard or specific economic data. They’re a glimpse into a collective mood.

While the market is slowing, it is gradually evolving from its out of control, insane pace, to a normal seller’s market where pricing will be fundamental in finding success.

Higher 30-year mortgage rates are having a major impact on Orange County demand, now at levels far below typical spring averages. Over the past month, demand dropped by 6% when it normally rises by 4%.

With rates inching their way up to 5%, the housing market is slowly changing and trends are emerging that illustrate a shift in the insanely hot housing market.

Average Homeowner Equity Increases by 55k