Life Changing Events That Move the Housing Market

Life is a highway, filled with unexpected twists and turns - such as the welcoming of a new child, starting a new adventure in retirement, or the mixed emotions of an empty nest. When life throws us these changes, you may find yourself considering buying or selling a home. That’s because through all these life-altering events, there is one common thread—the need to move.

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Reasons People Still Need To Move Today

According to the National Association of Realtors (NAR) there have been a lot of this type of milestone or life change over the last two years (see graph below):

And, these big life changes are going to continue to impact people moving forward, even with the current affordability challenges brought on by higher mortgage rates and rising home prices.

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As Claire Trapasso, Executive News Editor at Realtor.com, says:

"Because high mortgage rates, elevated home prices, and stubbornly low inventory make today's housing market particularly challenging, many of today's buyers are motivated by life changes, such as growing families, supporting elderly parents or grown children, or accommodating professional needs. . .”

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Lean On a Real Estate Professional for Help

Whether you're beginning your search for a home or preparing to sell your current house, you don't have to go it alone. With their expertise, a real estate agent is an invaluable partner who can help you smoothly transition through these big moments in your life. If you don't have an agent yet, don't sweat! We can provide you with some personalized recommendations on outstanding agents. Here are just a few examples on how your real estate agent can help:

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When Buying a Home

If you're preparing for a new family member and require extra space, finding a new home may become urgent. Current challenges like rising home prices and mortgage rates can complicate the buying process. However, addressing your evolving needs remains crucial, even in the face of today's mortgage landscape.

A proficient real estate agent can be invaluable in this situation. Their deep understanding of the local real estate market can significantly reduce your time and stress. They'll focus on your unique needs, budget, and preferences, efficiently narrowing down your options and presenting homes that align with your checklist.

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When Selling a House

If retirement, separation, or divorce is leading you to sell your house, your primary goal might be to maximize your investment to better suit your future needs.

Here, the skill of a real estate agent becomes crucial. They can expertly determine the market value of your home, recommend enhancements to increase its attractiveness, and develop a targeted marketing strategy. Their negotiation prowess plays a key role in ensuring you receive a fair price for your home, helping you transition into the next phase of your life with confidence.

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No matter your situation, lean on a trusted professional for help as you buy or sell a home.