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People Are Still Moving, Even with Today’s Affordability Challenges

In today’s real estate landscape, you may have heard that it’s a challenging time for both buyers and sellers. Mortgage rates have risen from their historic lows, and home prices continue to climb. While it’s true that affordability has become a concern, it doesn’t mean that people have stopped moving. In fact, the housing market remains active, driven by a variety of factors, including the assistance of skilled local real estate agents. In this blog, we’ll explore the current affordability situation, why people are still buying and selling homes, and how trusted professionals like The Freund Group can help you achieve your real estate goals in the Houston, League City, Galveston, and surrounding areas.

The Affordability Challenge: It’s undeniable that the cost of homeownership has increased in recent years. Mortgage rates, although still relatively low historically, are higher than they’ve been over the past few years. Home prices have been on the rise as well, making it a more significant financial commitment to enter or move within the housing market. But does this mean that the market has come to a standstill? Not at all.

The National Association of Realtors (NAR) explains how to read the values on the graph:
“To 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.”

The Reality of the Market: Despite the affordability challenges, people are still buying and selling homes. The desire for homeownership remains strong, and many individuals and families are making their real estate goals a reality. But how is this possible in a market with rising costs?

The Role of Skilled Local Real Estate Agents: One of the key reasons people are still moving in the current market is the invaluable assistance and advice provided by skilled local real estate agents. Professionals like The Freund Group have a deep understanding of the local market dynamics, which allows them to help clients navigate the challenges and opportunities effectively.

Whether you’re a buyer or seller, having a real estate agent on your side can make all the difference. They can help you:

  1. Navigate Affordability Challenges: Real estate agents can provide guidance on finding homes within your budget, exploring financing options, and negotiating favorable terms.
  2. Market Knowledge: Local agents have access to up-to-date market data and trends, allowing them to help buyers find reasonably priced homes and sellers set competitive prices.
  3. Negotiation Skills: Skilled agents excel in negotiating on behalf of their clients, ensuring they get the best deal possible.
  4. Streamline the Process: Agents can simplify the complex real estate process, saving you time, stress, and potential costly mistakes.

Bottom Line: While it’s true that buying a home has become more expensive over the past couple of years, people are still making their real estate dreams come true. This is largely due to the expertise and guidance of skilled local real estate agents who understand the market inside and out. If you’re considering a move, whether it’s buying or selling, connecting with a trusted professional like The Freund Group can make all the difference. Affordability challenges may exist, but with the right support, your real estate goals can become a reality in today’s dynamic housing market. Let’s connect and discuss how we can help you achieve your real estate dreams.

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