2020 Housing Market Insights

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Before You Buy That Fixer-Upper, Read This!

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  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, why it matters, and what it means if you’re thinking about buying a home. The Numbers Say It All It used to be that brand-new homes were priced way above resales. From 2010 to 2019, the gap between new and existing homes averaged about $66,000. Over the past five years, that gap narrowed to around $25,000 on average. Things first flipped in Q2 and Q3 of 2024, when the median price of existing homes surpassed new homes for the first time. And now in 2025, that trend is holding strong. Not only are resale homes more expensive than new const...
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How Today’s Buyers Are Getting Creative to Afford a Home

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  Overwhelmed by high home prices, interest rates, or the feeling that you’re “just not ready” to be a homeowner yet? You’re not alone. According to the  2025 NextGen Homebuyer Report , nearly 60% of Gen Z and Millennial buyers believe homeownership is attainable, but only 19% think now is a good time to buy. So what are they doing instead? They’re getting creative. Here are the four most popular alternative buying strategies young buyers are using to make homeownership work in 2025, plus how to know if one might be right for you. 1. Buying a Fixer-Upper Used by:  42% of buyers surveyed Good for:  Handy buyers who want more space for less money Not great for:  Those who need move-in-ready or have limited renovation budgets Buying a home that needs a little love can be one of the smartest ways to get into a neighborhood you otherwise couldn’t afford. In many markets, fixer-uppers sell for 10–30% below comparable move-in-ready homes. Pros: Lower upfront cost Oppor...
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Thinking of Downsizing? Read This First

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  If you’ve owned your home for more than a few years, chances are you’re sitting on a significant amount of equity, and possibly wondering if now’s the time to downsize. According to a recent Realtor.com analysis , baby boomers—those born between 1946 and 1964—own an estimated $18 to $19 trillion worth of real estate. That’s nearly half of the housing wealth in the U.S. Whether your kids are out of the house, you're retiring, or just want less maintenance, selling your longtime home can unlock major financial and lifestyle opportunities. But it also comes with questions: Where will you go next? How do you maximize your return? What steps should you take before listing? Here’s a complete guide to help you move forward with clarity, confidence, and a plan that preserves your wealth. Step 1: Understand Your Equity Position You probably already know your home’s value has gone up. But do you know by how much ? Your equity is the difference between your home’s market value and what you...
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