A recent Bank of America survey revealed what many homebuyers are feeling today: they’re ready to move forward—but affordability remains the biggest concern. When asked what would boost their confidence, buyers pointed to two key factors: home prices and mortgage rates.
Prices Are Moderating
During the housing boom from 2020 to 2021, home prices soared nearly 20% in just one year. That pace was unsustainable, and the good news is that things are stabilizing. Nationally, experts now expect more moderate, single-digit price growth. While this doesn’t mean prices are dropping, the slower rate of increase allows buyers more time and flexibility to plan and save. Keep in mind, local markets can vary widely depending on demand and inventory levels.
Mortgage Rates Are Easing
After reaching multi-year highs, mortgage rates have started to trend downward, improving overall affordability. Even a half-point decrease can make a meaningful difference in monthly payments, potentially saving hundreds of dollars each month. Many analysts anticipate rates will remain in the low- to mid-6% range for the near future, with the potential for further declines if inflation continues to cool and economic conditions stabilize.
Why This Matters
These shifts—slower price growth and easing rates—are restoring balance and creating opportunities for buyers who may have stepped back during the more volatile years. With more predictable pricing and better financing options, confidence in homebuying is gradually returning, even as broader economic uncertainty lingers.
Bottom Line
Affordability remains a challenge, but the housing market is showing meaningful progress. Prices are moderating. Rates are easing. And for buyers looking to make a move, now may be the right time to explore your options before competition rises again.
To connect with me directly, contact me at 917-254-2103. For your FREE Home Evaluation, your Homeowner Resource Guide, or your Home Buying/Down Payment Assistance Guide, visit this link https://pages.wiseagent.com/pages/?id=A1BACF97-B3A1-481B-9652-7302C047A665 or text HomeswithJustin to 85377.
To connect with me directly, contact me at 917-254-2103. For your FREE Home evaluation to learn the value of your home, your Homeowner Resource Guide, or your Home Buying/Down Payment Assistance Guide, use this link: https://bit.ly/45URvuV or text Ho
If you've been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you're thinking about buying or selling a house. But the truth is, even t
To connect with me directly, contact me at 917-254-2103. For your FREE Home evaluation to learn the value of your home, your Homeowner Resource Guide, or your Home Buying/Down Payment Assistance Guide, use this link: https://bit.ly/45URvuV or text Ho
To connect with me directly, contact me at 917-254-2103. For your FREE Home evaluation to learn the value of your home, your Homeowner Resource Guide, or your Home Buying/Down Payment Assistance Guide, use this link: https://bit.ly/45URvuV or text Ho
If you've been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you're thinking about buying or selling a house. But the truth is, even t