At Home with Connie Sadowski, Real Estate Expert

The housing market is shaping to be a  rosy real estate outlook  economists are predicting for 2025. In the latest sign of improvement,  pending home sales —a gauge of future home sales based on contract signings—rose 2.2% month over month in November, the National Association of REALTORS® reports. Marking the fourth consecutive month of increases, contract signings are up nearly 7% from a year ago and are at their highest level since February 2023. “Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory,” says NAR Chief Economist Lawrence Yun. “Mortgage rates have averaged above 6% for the past 24 months. Buyers are no longer waiting for or expecting mortgage rates to fall substantially. Furthermore, buyers are in a better position to negotiate as the market shifts away from a seller’s market.” Several recent housing indicators have painted a healthier picture of the market: Existing-home sales j...

Home equity is  a key component of homeownership and can be a powerful asset that helps you build wealth over time.  It’s  the difference between the value of your home and the amount you still owe on your mortgage.   Here are some reasons why buying a home can be a good financial decision: Equity : Home equity can help you build wealth as your home's value increases and you pay down your mortgage.   Stability : Homeownership can increase your financial stability.   Tax benefits : Homeownership may reduce your taxes.   Social ties : Homeownership can increase your social ties.   Rental costs : Rental costs may increase more than a mortgage.   You can use your home equity for various expenses, such as: Home equity loans : You can use a home equity loan to access your equity.   Home equity lines of credit (HELOCs) : You can use a HELOC to access your equity.   Reverse mortgage : If you're 62 or ...