Darryl Morris

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5 Reasons Today's Housing Market Is Anything but Normal

There are many headlines out there that claim we’re reverting to a more normal real estate market. Here’s the definition of normal from the Merriam-Webster Dictionary: “conforming to a type, standard, or regular pattern: characterized by that which is considered usual, typical, or routine.” Using this definition, here are five housing industry metrics that prove we’re nowhere near normal.

>>Mortgage Rates
Today, the average mortgage rate stands at 2.87%, which is very close to the historic low.
Currently, mortgage rates are anything but usual, typical, or routine.

>>Home Price Appreciation
According to Black Knight, the average annual appreciation on residential real estate prices since 1995 has been 4.14%. According to the latest forecast from NAR, home price appreciation will hit 14.1...


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5 Reasons Today's Housing Market Is Anything but Normal There are many headlines out there that claim we’re reverting to a more normal real estate market. That would indicate the housing market is returning to the pre-pandemic numbers we saw from 2015-2019. But that’s not happening. The market is still extremely vibrant as demand is still strong even...

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What You Can Do Right Now To Prepare for Homeownership

Rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re ready to learn more about how to escape rising rents.

>>Start Saving – Even Small Amounts – Now
As Cindy Zuniga-Sanchez, Founder of Zero-Based Budget Coaching LLC, says. “I recommend saving for a home in a ‘sinking fund’ . . . . This is a savings account separate from your emergency fund that you use to save for a short or mid-term expense.” Zuniga-Sanchez adds saving in smaller increments can help make a large goal – such as saving for a down payment –achievable.

>>Assess Your Finances and Work on Your Credit
Another tip experts recommend: take a...


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What You Can Do Right Now To Prepare for Homeownership As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com: