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With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. The good news is, there’s concrete data to show why this is nothing like the last time.

There were too many homes for sale during the housing crisis (many of which were short sales and foreclosures). That caused prices to fall dramatically. Supply has increased since the start of this year, but there’s still a shortage of inventory available, primarily due to almost 15 years of underbuilding homes.

There just isn’t enough inventory on the market for home prices to come crashing down like they did last time.

During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. Back then, lending institutions took on much greater risk in both the person and the mortgage products offered.

Tighter lending standards over the past 14 years have helped prevent a scenario that would lead to a wave of...

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008 With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to...

If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why.

>>What Is Pre-Approval?

To better understand why pre-approval is key, it’s important to know what pre-approval is. As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand your true price range and how much money you can borrow.

That can make it easier when you set out to search for homes because you’ll know your overall numbers. And with mortgage rates rising and impacting affordability, a solid understanding of your numbers is even more important.

>>Pre-Approval Can Signal You’re a Serious Buyer

Another added benefit is that...

Pre-Approval Is a Critical First Step on Your Homebuying Journey If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why.

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point.

This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market.

>>What Does This Inflection Point Mean for Buyers?

If you’re thinking of buying a home, you’ll have less competition and more options than you would have had last year. Enjoy having more homes to choose from in your home search and lean on a trusted real estate professional to understand how the increase in supply has also increased your negotiation power. That professional can talk you through the opportunities and challenges buyers face in today’s shifting market. You may be surprised to find they’re different than they were a year ago.

>>What Does This Inflection Point Mean for Sellers?

If you’re...

The Latest on Supply and Demand in Housing Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point.