by Keeping Current MattersThe link between financial security and homeownership is especially important today as inflation rises.  But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says:“Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.” Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal.Owning a Home Is a Building Block for Financial SuccessA recent NAR report details several homeownership trends and statistics, including the difference in net worth between homeowners and renters. It finds:“. . . the net worth of a homeowner was about $300,000 while that of a renter’s was $8,000 in 2021.”To put that into . . .

by Keeping Current Matters
If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you.Here’s how it happened. Home values are on the rise thanks to low housing supply and high buyer demand. Basically, there aren’t enough homes available to meet this high buyer interest,  so bidding wars are driving home prices up. When you own a home, the rising prices mean your home is worth more in today’s market. And as home values climb, your equity does too. As Dr. Frank Nothaft, Chief Economist at CoreLogic, explains:“Home prices rose 18% during 2021 in the CoreLogic Home Price Index, the largest annual gain recorded in its . . .

by Keeping Current Matters
If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one.If that’s the case, you should know – you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity.1. The Number of Homes on the Market Is Still LowToday’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes available. That means purchasers are eagerly waiting for your house. Listing your house now makes it the center of attention. And if you work with a real estate professional to price your house correctly, you can expect it to sell quickly and likely get . . .

by Keeping Current Matters
When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today.But even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why.Pricing Your House Right Is Crucial Even in a Sellers’ MarketThe price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. . . .

by Keeping Current Matters
If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home.If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states:“They say the pandemic and the emergence of remote work accelerated millennial home-buying trends already under way. . . . Millennials who already owned homes traded up for more space.”So, if you’re working remotely now or simply have a . . .

by Keeping Current Matters
In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below):If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines.Why Is Real Estate a Great Investment During Times of High Inflation?With inflation reaching its highest level in 40 years, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board. That includes goods, services, housing costs, and more. But when you purchase your . . .

by Keeping Current Matters
Financial benefits are always a key aspect of homeownership, but it’s also important to understand that the nonfinancial and personal benefits are why so many people genuinely fall in love with their homes. When you own your home, you likely feel a sense of emotional attachment because of the comfort it provides, but also because it’s a space that’s truly yours.Over the past two years, we’ve learned to love our homes even more as we’ve stayed home more than ever due to the ongoing pandemic. As a result, the personal and emotional benefits our homes provide have become even more important to us.As the most recent State of the American Homeowner from Unison puts it:“Despite the upheaval and uncertainty of the past year, one thing has stayed the same: the home continues to be of the utmost importance and a place of security and . . .

by Keeping Current Matters
In today’s sellers’ market, many homeowners are weighing their options and trying to decide if they should sell their house. If you’re in that group, you may be balancing things like the ongoing health crisis, rising mortgage rates, and your own changing needs to determine your best time to make a move.However, recent data shows that time may already be here. According to the latest Home Purchase Sentiment Index (HPSI) by Fannie Mae, 76% of consumers believe now is a good time to sell.Looking back over the past few years, its clear consumers are incredibly optimistic today. The graph below shows the percent of survey respondents who say it’s a good time to sell a house, and their positive outlook is on the rise. The big dip near the middle of the chart indicates how consumer sentiment about selling dropped at the beginning of the . . .

by Keeping Current Matters
If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says:“. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion of average local wages than renting.”Other experts in the industry offer additional perspectives on renting today. In the latest Single-Family Rent Index from CoreLogic, single-family rent saw the fastest year-over-year growth in over . . .

by Keeping Current Matters
Many members of Generation Z (Gen Z) are aging into adulthood and deciding whether to rent or buy a home. If you find yourself in this group, it’s important to understand you’re never too young to start thinking about homeownership. The sooner you start planning, the sooner you can move on from renting.As you set off on your journey and plan your next move, here are a few reasons to think about homebuying this year.The Reasons Gen Z Want To Become HomeownersWhile the majority of Gen Z haven’t entered the housing market yet, a large portion plan to according to a realtor.com report. The report found that 72% of Gen Z would rather purchase a home than rent long-term. As George Ratiu, Manager of Economic Research for realtor.com, says:“With nearly three-quarters of those surveyed preferring to buy versus renting long-term, the housing . . .