Sidelined homebuyers see opportunity in a possible recession

As economic concerns grow, a new survey from Realtor.com shows that a significant share of prospective homebuyers may view a potential recession as an opportunity rather than a deterrent.

According to the survey, 63.4% of respondents expect a recession within the next year, reflecting the highest level of concern since 2019.

Despite that, nearly 30% of home shoppers said a downturn would make them more likely to purchase a home — almost double the 15.8% who said it would make them less likely to buy.

“Confidence in the economy has clearly taken a hit amid ongoing headlines around trade, tariffs, and rate uncertainty,” said Danielle Hale, chief economist at Realtor.com. “But while concerns are definitely present, some buyers anticipate that a downturn can bring opportunity. Well-prepared buyers who have been waiting on the sidelines are likely motivated by personal and lifestyle needs like growing families, new jobs, or retirements and these considerations can outweigh short term economic uncertainties.”

Life circumstances outweigh economy

The majority of respondents — 54.4% — said a potential recession would have no impact on their decision to purchase a home. For many, lifestyle drivers such as family growth, job changes or retirement remain the primary motivation to buy.

Of the 29.8% who said a recession would make them more likely to purchase, most cited expectations of lower mortgage rates and reduced competition as motivating factors.

Inventory and budget constraints

While some buyers see promise in a cooling economy, many still face significant hurdles. A lack of suitable housing inventory was cited by 44.3% of respondents as the biggest obstacle. Despite improved listing activity compared to last year, total active inventory remains 16.3% below historic levels.

Budget limitations were identified by 36% of buyers, with potential inflation and high mortgage rates posing additional threats in the coming months.

Financial barriers are also mounting — 13.5% of buyers cited poor credit scores and 8.2% reported difficulty qualifying for a mortgage. Tighter lending standards and changing student loan policies may add further strain.

Signs of a calmer market

The survey also indicates that the intense competition of the past few years is beginning to ease. Just 7.7% of respondents said overbidding was a top concern, down from 10.4% one year ago. This shift coincides with a rise in available listings, longer time on market and more stable pricing.

For buyers who remain financially positioned to act, current conditions may offer greater negotiating power and less pressure than in recent years.

Read more at Housingwire

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Don’t Let Student Loans Hold You Back from Homeownership

Did you know? According to a recent study, 72% of people with student loans think their debt will delay their ability to buy a home. Maybe you’re one of them and you’re wondering:

• Do you have to wait until you’ve paid off those loans before you can buy your first home?

• Or is it possible you could still qualify for a home loan even with that debt?

Having questions like these is normal, especially when you’re thinking about making such a big purchase. But you should know, you may be putting your homeownership goals on the backburner unnecessarily.

Can You Qualify for a Home Loan if You Have Student Loans?

In the simplest sense, what you want to know is can you still buy your first home if you have student debt. Here’s what Yahoo Finance says:

” . . . student loans don’t have to get in your way when it comes to becoming a homeowner. With the right approach and an understanding of how debt impacts your home-buying options, buying a house when you have student loans is possible.“

And the data backs this up. An annual report from the National Association of Realtors (NAR), shows that 32% of first-time buyers had student loan debt.

While everyone’s situation is unique, your goal may be more doable than you realize. Plenty of people with student loans have been able to qualify for and buy a home. Let that reassure you that it is still possible, even as a first-time buyer. And just in case it’s helpful to know, the median student loan debt was $30,000. As an article from Chase says:

“It’s important to note that student loans usually don’t affect your ability to qualify for a mortgage any differently than other types of debt you have on your credit report, such as credit card debt and auto loans.”

If your income is steady and your overall finances are solid, homeownership can still be within reach. So, having student loans doesn’t necessarily mean you have to wait to buy a home.

Bottom Line

Having student loans doesn’t mean buying a home is off the table. Before you count yourself out, talk to a lender to get a clearer picture of what you can afford and how close you are to taking the first step toward homeownership.

Read more at Keeping Current Matters

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Is it finally a buyer's housing market? What to know about home prices, rate 'lock-in'

The housing market has been on a roller coaster for the past several years, but as the ride slows to a crawl, home prices and some other measures are likely to come back to earth.

Here’s what to know about some of the most important aspects of the market:

Home price gains will slow considerably

Prices surged during the pandemic – up roughly 50% over the last five years, depending on which gauge you use – as mortgage rates hit rock-bottom and Americans reconsidered where they wanted to live.

Such big gains have had consequences. Homeowners are sitting on record levels of home equity, but it’s increasingly challenging for buyers, especially first-timers, to break into the market.

But now prices are falling back to earth, and may continue to do so. The Mortgage Bankers Association expects prices to rise only 1.3% in 2025, while Fannie Mae economists forecast a 4.1% price gain.

It’s worth noting that many analysts have predicted a similar trend in the past, only to see the sharp imbalance between demand and available supply keep prices elevated.

Is ‘mortgage rate lock-in’ over?

What’s different now is that more homeowners seem to be ready to list their homes for sale. For the past several years, one of the strongest forces acting on the housing market has been the mortgage rate “lock-in” effect, whereby homeowners with rock-bottom rates were reluctant to move and take on much higher borrowing costs.

As of the fourth quarter of 2024, the most recent data available, 72% of all outstanding mortgages had a rate below 6%, and more than half had a rate below 4%. For many people, moving and taking on a new mortgage at the prevailing rates of 6%-7% was hard to contemplate unless it was absolutely necessary.

But now, according to anecdotal evidence, some of that reluctance is easing. Redfin real estate agent David Palmer sees it in Seattle, where he works. “There are so many people that post pandemic are like, OK, rate be damned,” Palmer said.

Selma Hepp, chief economist for real estate data firm Cotality, says the thaw is happening much more quickly than most analysts had anticipated. “Maybe it’s the spring homebuying season,” she said.

Whatever the reason, there are a lot more options for buyers now. Realtor.com data show that in April, there were 959,251 active listings, more than 30% higher than April last year, and nearly as high as 2019 levels. While some of that was due to homes staying on the market longer, listings were up 9.2% in April compared to March, and up 10.2% in March versus February.

That means buyers may finally get a break after several years of frenzied sellers’ markets, Palmer told USA TODAY. “I do think this can be a good opportunity for people looking to buy. First-timers can actually negotiate something,” he said. It’s also a positive for people looking to trade up, he said, since a slower-paced market makes it easier to weigh the options.

Is it a buyer’s market yet?

It’s too soon to call this a buyer’s market – and experts like Hepp caution that the national housing market is, in fact, increasingly local, with some areas experiencing outsize demand while others weaken.

Still, Realtor.com data show that more sellers are making price cuts. In April, 18% of home listings had price reductions, the highest April share in Realtor.com data going back to at least 2016.

“This trend suggests that sellers are adjusting their expectations in the face of affordability challenges and weaker buyer demand in some markets,” Realtor.com economists wrote in an April analysis.

Palmer, the Seattle agent, says he’s accustomed to having conversations with homeowners disappointed that they may have missed the peak of the market a few years ago. But many understand the reality, he said. “You do have both sides more willing to realize the reality of how things are more expensive,” he said. “It is a different world now.”

Read more at USAToday

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Should You Buy a New Home Before Selling Your Old One?

If you’re in the market for a new home, but, like most homeowners, you need to sell your old one, what’s the best way to handle the logistics? Should you sell first and then look for a new place? Or is it better to find your next home first and then put your existing home on the market?

“It depends,” says Sammy Lyon, an associate broker with Dow Capital, a boutique brokerage in Los Angeles. “While it’s possible to buy before you sell, risks are involved. You have to work with your agent and be prudent so you’re not just flying blind.”

In July 2022, Lyon represented the buyers of a three-bedroom, bungalow-style home in Burbank, California, that was listed for $1.25 million and went under contract in eight days, closing shortly thereafter for $1.3 million. It was only after his clients purchased that home that they listed their two-bedroom condo in Burbank – which itself went under contract two weeks later and sold for more than the asking price.

“The houses they were interested in were going over ask very quickly,” Lyon says. The couple also had a 2-year-old child and wanted to avoid the disruption that comes with selling a house as well as the risk that they might have to move into temporary housing if their house sold before they found a new one. Lyon says his buyers were able to close on the new house because they received a gift from a family member to cover the down payment.

The Pros and Cons of Buying First

In a competitive market, where there are few homes for sale and available homes often receive multiple bids and sell for more than the asking price, buying before you sell may be the only way to lock down a new place. The worst-case scenario in a strong sellers’ market is selling your home quickly before you’ve found a new one – and then having nowhere to go.

Buyers with kids and pets may find it easier to purchase first as well. It’s challenging to maintain a home in show-ready condition, and it’s disruptive when strangers traipse through your home during showings. Plus, many agents prefer to market empty homes.

“I prefer selling vacant houses because most people don’t have furniture that looks like it’s straight from HGTV,” says Rachel Kilmer, an agent with ReeceNichols Real Estate in Lee’s Summit, Missouri, who serves the greater Kansas City area. “Many times, a vacant home shows better because you can get it really clean. Plus, buyers can visualize their stuff in the home more easily – and it appears bigger in photos.”

Of course, if you purchase first and can’t sell your home quickly, you risk being on the hook for not only two mortgage payments but also the carrying costs of both homes, and that can get expensive fast. To avoid a financial crisis, do your homework – know how much you will net from the sale of your present home and how long it should take to sell under current market conditions. That way, you can take a calculated risk after reviewing all the details with your agent.

Structuring a Purchase When You Haven’t Sold Your Home

There are a number of ways to structure the purchase and sale transactions when you plan to buy first.

• Pay cash. This is the simplest way to purchase a new home before you sell your existing one. Many homeowners have equity in their homes, according to data provider Intercontinental Exchange, which reported in March 2025 that U.S. mortgage holders were sitting on $17 trillion in equity entering 2025, including $11 trillion in tappable equity that could be borrowed against while still maintaining a 20% equity stake in their homes. These homeowners can tap that equity via a home equity line of credit (HELOC) or a bridge loan, which, according to Jeremy Bordner, a regional vice president at LoanDepot, “is gap financing, a short-term loan that helps you bridge the gap between buying your new home and selling your old home.” Bridge loans typically have a 12-month term and are not renewable, he says.

• Mortgage the new home. If you can qualify for two mortgages based on your income, assets and credit, you can move ahead with the purchase and finance it with a mortgage. Kilmer says this is what most of her clients do. They put a minimum down payment on the new house, close on the purchase and then, once they’ve sold their existing home, they recast the mortgage to pay down the principal balance and lower their monthly payments.

• Collateralize other assets. If you own investment real estate, a stock portfolio or other assets, you can borrow against them to close on the new home.

• Borrow from your 401(k). While distributions from a 401(k) may trigger taxes and a penalty, borrowing does not, according to Mari Adam, a certified financial planner in Boca Raton, Florida. “If your plan permits, you can do a 401(k) loan and pay it back with interest,” she says. “Otherwise, it may count as a taxable distribution.” Your plan will determine the amount you can borrow and under what terms. Of course, since this money is set aside for your retirement, it’s essential to pay it back to keep your retirement savings on track.

• Consider an iBuyer. An iBuyer is a company that will buy your house quickly for cash. “Being able to buy a home before you sell your current one is, for most, a luxury,” says Nick Boniakowski, head of agent partnerships for Opendoor, a San Francisco-based iBuyer that operates in 50 markets nationwide. “We help address that by providing sellers with the certainty of a cash offer and the flexibility to close on their schedule.” Boniakowski says that sellers can typically close as soon as 15 days after receiving a cash offer, or up to 60 days later, and the closing date can be rescheduled if necessary. Sellers pay a service fee of 5% of the offer price.

If you’re planning to purchase a new home before selling your existing one, be sure to do your due diligence. Ask your agent for a “seller net sheet,” a document that will itemize all the costs involved with the sale and include an estimate of the amount you should net from the deal. That way, you’ll have a better idea of what you can afford on the buy side.

“Plan for the worst, but act with confidence,” says LoanDepot’s Bordner. “Know exactly how long you could carry two homes, have backup financing in place and be realistic about your current home’s marketability and pricing. Many people think their home is worth more than it really is.”

Read more at U.S News

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Yes, You Should Spring Clean Your Houseplants—Here's How in 3 Easy Steps

With the arrival of spring sunshine, houseplants begin to wake up from their winter dormancy, which is the perfect time to give them a refresh.

Dusty leaves and spent foliage can hinder their new growth, so a good cleaning now sets them up for a vibrant year ahead. Think of it as a spa day for your plants. Use this guide to spring clean all your houseplants properly.

1. Take Stock

After the winter months of low light and slower growth, your houseplants may look a bit disheveled. A little “bed head” is completely normal. Start by assessing each plant as you would in the outdoor garden.

Look for signs of stress, pests, and disease (wilting, weak or dead foliage, holes in the leaves, visible pests, or mottled foliage). If something looks off, isolate the affected plant and try to determine the cause. In some cases, a simple shower or removal of the problem leaves is all it takes to remedy the situation.

2. Prune Off Dead or Unhealthy Parts

When pruning, use a clean bypass-blade pruner or snipper (the blades cross each other like scissors) that is safer for delicate growing foliage. If disease is present, disinfect the pruners between cuts and plants with a diluted bleach solution.

Trimming away unhealthy foliage helps plants conserve and redirect energy to fresh, healthy growth. Clean away fallen debris, old flowers, and leaves to let the soil breathe and help prevent mold or fungus gnats. Remove any plants or stalks that are dried out, brown, and crunchy. If some of the stalk is green, cut above a green leaf node or leaf.

If your plant has been overwatered (an easy mistake in winter when plants aren’t actively growing), it may present with yellowing leaves or mushy, blackening stalks, which are classic signs of rot. Often, the leaves will yellow first, finally turning black. Cut back affected areas, cutting above the highest green node or leaf. Don’t be afraid to prune heavily because many types of houseplants usually bounce back from pruning with renewed vigor.

3. Rinse and Repeat

For outdoor plants, cleansing rain showers help wash away dirt and pests. You can help your indoor plants with a sponge bath or a gentle shower. Whichever method you use, remember to wash both sides of the leaves—pests like to hide and lay their eggs under leaves and in the joints where they meet the stalk.

Move small plants to the sink, or larger ones to the shower. If you have access to a deck, you can hose your plant outside or let it sit in the rain (assuming temperatures are above 60°F). Make sure to use a soft spray, not a jet setting, which can injure delicate leaves.

For plants too heavy to move, like an 8-foot-tall fiddle-leaf fig, consider putting it in a large tub and giving it a bath with a wet cloth or sponge. Go slowly, supporting the back of the leaf in your palm to keep from tearing it. For plants with tender or fine-textured foliage like ferns or polka-dot plants, it’s easier to dunk them in a bucket of water a few times to rinse them off.

There are some special exceptions: some plants, notably African violets, orchids, and succulents, dislike having moisture sit on their leaves. A soft-bristle toothbrush, paintbrush, or makeup brush can clean up fuzzy violets, while a smooth cloth is best for orchids and succulents.

Spring Houseplant Care Tips

While zhuzhing up your houseplants in spring, there are a few things to avoid because they can cause more harm than good. Plus, it's a good time to consider other improvements you can make to your houseplant game.

Skip Sprays and Shines

While gleaming leaves look great, synthetic leaf shine sprays are likely to do more harm than good. The goal of washing the leaves is to keep their stomata, which act like our pores, open and free of debris. Clean leaves function better, absorbing light and nutrients, and releasing oxygen more efficiently.

Very diluted sprays with vinegar, lemon juice, or mild dish soap are sometimes recommended to help remove heavy build-up of hard water deposits or dust. Gentle soap and water can help remove a light infestation of spider mites, too. However, to keep the leaves clean and healthy, these should be the last resorts, followed by a good rinsing with plain water.

Pause on Fertilizers

It’s tempting to get your season started with a dose of fertilizer, but at this early stage, fertilizers could be a shock to the plant. It’s best to wait until your plants are in active growth to add a diluted liquid fertilizer or a slow-release granular fertilizer, which incrementally delivers nutrients over time.

However, it never hurts to top-dress your pot with some fresh potting mix or compost, depending on the type of plant. Choose to repot or divide overcrowded plants after fertilizing.

Evaluate Your Setup

Take time to evaluate your plant setup to see if it's efficient and easy to take care of. Would a plant shelf or hanging planters get your plants better light? Protect your furniture with saucers and trays under your plants. Consider adding humidity trays, self-watering planters, or plant-watering aids.

Read more at Better Homes and Gardens

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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