If you have a 3% mortgage rate, you’re probably pretty hesitant to let that go. And even if you’ve toyed with the idea of moving, this nagging thought may be holding you back: “ why would I give that up?”. But when you ask that question, you may be putting your needs on the back burner without realizing it. Most people don’t move because of their mortgage rate. They move because they want or need to. So, let’s flip the script and ask this instead: What are the chances you’ll still be in your current house 5 years from now? Think about your life for a moment. Picture what the next few years will hold. Are you planning on growing your family? Do you have adult children about to move out? Is retirement on the horizon? Are you already bursting at the seams? If nothing’s going to change, and you love where you are, staying put might make perfect sense. But if there’s even a slight chance a move is coming, even if it’s not immediate, it’s worth thinking about your timeline.  Because even a year or two can make a big difference in what your next home might cost you. What the Experts Say About Home Prices over the Next 5 Years Each quarter, Fannie Mae asks more than 100 housing market experts to weigh in on where they project home prices are headed. And the consensus is clear. Home prices are expected to rise through at least 2029 ( see graph below ):

Especially in areas where inventory is rising, both homebuilders and sellers are sweetening the deal for buyers with things like paid closing costs, mortgage rate buy-downs, and more. In the industry, it’s called a concession or an incentive. What Are Concessions and Incentives? When a seller or builder gives you something extra to help with your purchase, that’s called either a concession or an incentive . A concession is something a seller gives up or agrees to in order to reach a compromise and close a deal. An incentive , on the other hand, is a benefit a builder or seller advertises and offers up front to attract and encourage buyers. Today, some of the most common ones are: Help with closing costs Mortgage rate buy-downs (to temporarily lower your rate) Discounts or price reductions Upgrades or appliances Home warranties Minor repairs For buyers, getting any of these things thrown in can be a big deal – especially if you’re working with a tight budget. As the National Association of Realtors (NAR) says: “. . . they can help reduce the upfront costs associated with purchasing a home.”  Builders Are Making It Easier To Buy It’s not just one builder willing to toss in a few extras. A lot of builders are using this tactic lately. As Zonda says : “Incentives continued to be popular in March, offered by builders on 56% of to-be-built homes and 74% of quick move-in (QMI) homes, which can likely be occupied within 90 days.” That’s because they don’t want to sit on inventory for too long. They want it to sell. And according to the National Association of Home Builders (NAHB), one of the strategies many builders are using to keep that inventory moving (and not just sitting) is a price adjustment ( see graph below ):

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 ):

Some Highlights - At a national level, the housing market has shifted over the past year. - There are more homes for sale, price growth has moderated, and homes are taking a little longer to sell. - Do you want to know how your area compares? Connect with a real estate agent to go over what's happening locally and what this means for you.

For years, sellers have had the upper hand in the housing market. With so few homes for sale and so many people who wanted to purchase them, buyers faced tough competition just to get an offer accepted. But now, inventory is rising, and things are starting to shift in many areas. So, is the market finally balancing out? And does that mean buyers will have it a bit easier now? Here’s what you need to know.  What Makes It a Buyer’s Market or a Seller’s Market? It all comes down to how many homes are for sale in an area compared to how many buyers want to buy there. That’s what ultimately determines who has the most leverage. A Seller’s Market is when there are more buyers than homes available, so sellers hold the power. This leads to rising prices, multiple offers, and homes selling quickly – often above the asking price – because there isn’t enough to go around. A Buyer’s Market is when there are more homes than buyers. In this case, the tables turn. Sellers may have to offer concessions and incentives, or negotiate more to get a deal done. That’s because buyers have more choices and can take their time making decisions. You can see this play out over time using data from the National Association of Realtors (NAR) in the graph below:

Some Highlights - With more homes for sale and buyers being more selective, it’s smart to make strategic updates.​ But how do you decide what’s worth doing? ​You lean on an agent. - An agent will be able to tell you what buyers want, quick wins that’ll have a big impact, and what projects have the best ROI. - What projects are on your to-do list before selling? With only a month left before spring, connect with a local agent so you know what’s worth the time and effort.

This could be the year to sell your house – and here’s why. According to a recent NerdWallet survey, 15% of people are planning to buy a home this year. That’s actually a record high for this survey (see graph below):

There’s one big mistake you need to avoid when you sell your house this year: setting your price too high. It might seem like overpricing gives you room to negotiate or could really boost your profit, but the reality is, it usually backfires. In fact, Realtor.com says almost 20% of sellers — that’s one in five — have to reduce their price to get their house sold. And you don’t want to be one of them. Here’s why starting too high can lead to trouble, and how to avoid it. Overpricing Pushes Buyers Away With mortgage rates and home prices where they are right now, buyers are already stretching their budgets to make a move. So, when they see a house that’s priced too high, they’re not thinking, “I can negotiate.” They’re more likely to think, “next” and skip over your house entirely. An article from the National Association of Realtors (NAR) explains: “Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers . . .” And if they skip over your listing, you’ll miss out on the chance to get them through the door. That’s the last thing you want because fewer showings mean fewer chances to receive an offer. The Longer Your House Sits, the More Skeptical Buyers Will Get Here’s the other issue. An overpriced house tends to sit on the market longer. And the longer a house lingers, the more buyers start to wonder what’s wrong with it. Is there a problem with the house itself? Are you difficult to work with? Even if the only issue is the price, that extra time creates doubt. As U.S. News says: “. . . setting an unrealistically high price with the idea that you can come down later doesn’t work in real estate . . . A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.” At that point, you’ll have no choice but to lower your price to drum up interest. But that price reduction comes with its own downside: buyers may see it as another red flag, that there’s an issue with the house. The Key To Finding the Right Price for Your House So, what’s the secret to avoiding all these headaches? It’s simple. Work with a local real estate agent who knows the market inside and out, and who’s going to be honest with you about how you should price your house. You don’t want to partner with someone who just agrees to whatever number you throw out there. That’s not an expert who’s going to get you the best results. You want an agent who recommends a price based on their expertise. The right agent will use real-time data from your local market to help you land on a price that makes sense — one that grabs attention, attracts buyers, and still helps you walk away with a great return. Someone who has been there and done that – and done it well. That’s the agent you want to work with. Bottom Line Remember, if the price isn’t compelling, it’s not selling. Instead of shooting too high and scaring off buyers, work with a local agent who knows how to price it right. Connect with an agent to make sure your house hits the market with the right price, gets noticed, and gets sold.

Wondering what’s in store for the housing market this year? And more specifically, what it all means for you if you plan to buy or sell a home? The best way to get that information is to lean on the pros. Experts are constantly updating and revising their forecasts, so here’s the latest on two of the biggest factors expected to shape the year ahead: mortgage rates and home prices. Will Mortgage Rates Come Down? Everyone’s keeping an eye on mortgage rates and waiting for them to come down. So, the question is really: how far and how fast? The good news is they’re projected to ease a bit in 2025. But that doesn’t mean you should expect to see a return of 3-4% mortgage rates. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Are we going to go back to 4%? Per my forecast, unfortunately, we will not. It’s more likely that we’ll go back to 6%.” And the other experts agree. They’re forecasting rates could settle in the mid-to-low 6% range by the end of the year (see chart below):