{"id":8192,"date":"2023-11-16T11:30:00","date_gmt":"2023-11-16T11:30:00","guid":{"rendered":"https:\/\/thezakariagroup.com\/people-are-still-moving-even-with-todays-affordability-challenges\/"},"modified":"2023-11-16T11:30:00","modified_gmt":"2023-11-16T11:30:00","slug":"people-are-still-moving-even-with-todays-affordability-challenges","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/people-are-still-moving-even-with-todays-affordability-challenges\/","title":{"rendered":"People Are Still Moving, Even with Today\u2019s Affordability Challenges"},"content":{"rendered":"
If you’re thinking about buying<\/a> or selling<\/a> a home, you might have heard that it\u2019s tough right now because mortgage rates<\/a> are higher than they\u2019ve been over the past few years, and home prices<\/a> are rising. That much is true. Take a look at the graph below. It breaks down how the current affordability situation stacks up to recent years.<\/p>\n \u00a0<\/a><\/p>\n <\/p>\n The National Association of Realtors<\/em> (NAR) explains<\/a> how to read the values on the graph:<\/p>\n \u201cTo interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home.\u201d<\/em><\/p><\/blockquote>\n The black dotted line represents that 100 value on the index. Essentially, the higher the bar, the more affordable homes are. As you can see, the orange bar for today shows higher mortgage rates and home prices have created a clear challenge. But, while affordability is definitely tighter right now, that doesn\u2019t mean the housing market is at a standstill.<\/p>\n According<\/a> to NAR, based on the pace of sales right now, just under 4 million homes will sell this year. With some simple math, let\u2019s break down what that really means for you:<\/p>\n So, on average, over 10,000 homes sell each day in this country.<\/strong> Whether you’re a buyer or a seller, this goes to show there are still ways to make your move possible, even at a time when affordability is tight.<\/p>\n You may be wondering how other homebuyers<\/a> and sellers<\/a> are making this happen now. One of the biggest game-changers in today\u2019s market is working with a trusted local real estate agent<\/a>. Great agents are helping other people just like you navigate today\u2019s market<\/a> and the current affordability situation, and their insight is invaluable right now.<\/p>\n True professionals will be able to offer advice tailored to your specific wants, needs, budget, and more. Not to mention, they\u2019ll also be able to draw on their experience of what\u2019s working for other buyers and sellers right now. This could mean broadening your search<\/a>, if needed, to include other housing types like condos, townhouses, or neighborhoods a bit further out to help offset some of the affordability challenges<\/a> today.\u00a0<\/p>\n You might think there aren\u2019t many people buying or selling homes right now since affordability is tighter than it\u2019s been in quite some time, but that\u2019s not the case. It\u2019s true that buying a home has become more expensive over the past couple of years, but people are still moving. <\/span><\/p>\n \u00a0<\/span><\/p>\n If you\u2019re hoping to buy or sell a home today, know that other people are still making their goals a reality \u2013 and that\u2019s happening in large part because of the help and advice of skilled real estate agents. Want to talk to a trusted professional about your own move? Connect with a local real estate agent.\u00a0\u00a0<\/p>\n<\/div>\n\n
An Agent Can Help You Make Your Move a Reality<\/strong><\/h4>\n
Bottom Line<\/h3>\n