For the first time in years, existing homes (yes, the older ones that often need updates) are selling for more than brand-new construction. According to the latest numbers, the median price of an existing home is $429,400. For a newly built home? $410,800. That’s an $18,600 difference. So if you’ve been eyeing a resale home thinking it’s the “cheaper” option, you might want to check out all your options. Let’s break down what’s going on, […]
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For decades, buyers have been told to follow one simple rule: Don’t spend more than 30% of your income on housing. That is the gold standard. The budget benchmark. The line in the sand between “affordable” and “overextended.” But in 2025, that line no longer seems attainable. According to a Realtor.com® Affordability Report, the typical U.S. household would need to spend 44.6% of their income to buy a median-priced home today. And in cities like […]
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You’ve probably heard the headlines: mortgage rates are still high, and the market is tough. But here’s what most of those headlines miss: subtle signs of life in the housing market. Mortgage purchase applications are up year over year, and even though rates are still above 6.5%, demand is starting to stir. It’s not a boom. It’s not a frenzy. But it is something to take note of. What Are Mortgage Purchase Applications? Mortgage purchase […]
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