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Category: Real Estate

Learn more about Memphis real estate.

Why You Should Consider Condos as Part of Your Home Search

October 10, 2022

The historically low inventory over the past few years led to challenges for many buyers trying to find a home that met their needs and their budget. If you’re in the same boat, you should know the recent shift in the housing market may have opened up doors for you to restart your search. The inventory of homes for sale has increased this year, and that’s giving buyers much needed options. As Danielle Hale, Chief Economist at realtor.com, says: “. . . today’s shoppers have more than 5 homes to consider for every 4 they had at this time a year ago.” But perspective is important. Overall, housing supply is still low. If you need even more choices, expanding your search by adding additional housing types, like condominiums, could help. Exploring Condos Could Add Options That Fit Your Budget One thing to consider is condos generally differ from single-family homes in average space and floorplans. But that size difference is one reason why condos can be a more affordable option. According to a recent report from realtor.com, condo buyers paid roughly 7% less for their home than buyers of other housing types last year. With rising mortgage rates and home

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Is the Real Estate Market Slowing Down, or Is This a Housing Bubble?

September 15, 2022

The talk of a housing bubble in the coming year seems to be at a fever pitch as rising mortgage rates continue to slow down an overheated real estate market. Over the past two years, home prices have appreciated at an unsustainable pace causing many to ask: are things just slowing down, or is a crash coming? To answer this question, there are two things we want to understand. The first is the reality of the shift in today’s housing market. And the second is what experts are saying about home prices in the coming year. The Reality of the Shift in Today’s Housing Market The reality is we’re seeing an inflection point in housing supply and demand. According to realtor.com, active listings have increased more than 26% over last year, while showings from the latest ShowingTime Showing Index have decreased almost 17% from last year (see graph below). This is an inflection point for housing because, over the past two years, we’ve seen a massive amount of demand (showings) and not enough homes available for sale for the number of people that wanted to buy. That caused the market frenzy. Today, supply and demand look very different, and the

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Experts Increase 2022 Home Price Projections

September 1, 2022

If you’re wondering if home prices are going to come down due to the cooldown in the housing market or a potential recession, here’s what you need to know. Not only are experts forecasting home prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for home price appreciation from their original 2022 forecasts (shown in green in the chart below): As the chart shows, most sources adjusted up, and now call for more appreciation in 2022 than they originally projected this January. But why are experts so confident the housing market will see ongoing appreciation? It’s because of supply and demand in most markets. As Bankrate says: “After all, supplies of homes for sale remain near record lows. And while a jump in mortgage rates has dampened demand somewhat, demand still outpaces supply, thanks to a combination of little new construction and strong household formation by large numbers of millennials.” Knowing that experts forecast home prices will continue to appreciate in most markets and that they’ve actually increased their original projections for this year should help you answer the question: will home prices fall? According to the latest forecasts, experts are confident

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Homeownership Rate in the U.S. Continues to Rise

August 22, 2022

The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year: That data shows more than half of the U.S. population live in a home they own, and the percentage is growing with time.If you’re thinking about buying a home this year, here are just a few reasons why so many people see the value of homeownership. Why Are More People Becoming Homeowners? There are several benefits to owning your home. A significant one, especially when inflation is high like it is today, is that homeownership can help protect you from rising costs. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains: “In the 1970s, when inflation was running around 10%, home prices were rising at approximately the same rate. Renters actually have a harder time in inflationary periods, because rents tend to rise along with inflation, whereas mortgage payments stay the same for homeowners with fixed-rate mortgages.” When you buy a home with a fixed-rate mortgage, you can lock in what’s likely your biggest monthly expense – your housing payment – for the duration of that loan, often 15-30 years.That

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Real Estate Housing Market Predictions for the Second Half of 2022

August 1, 2022

Due to reduced housing inventory, individuals seeking to buy a home often compete with numerous other potential buyers. However, rising inflation and interest rates have put a damper on the excitement, and people all over the country are wondering what to expect of the real estate housing market for the remainder of the year. Read this article to learn our top five predictions about home prices, interest rates and rumors the housing market might crash.

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Three Mistakes Today’s First-Time Homebuyers are Making

July 10, 2022

Rising interest rates and low housing inventory are making it particularly challenging to be a first-time homebuyer. The buyer market is highly competitive, and home are selling for top dollar. This environment puts a lot of pressure on new buyers, and we are seeing rookie mistakes being made. Here are the three big mistakes today’s first-time homebuyers are making: They are trying to “wait out the market”, they are not getting pre-approved by a reputable lender, and they are hiring the wrong real estate agent. Let’s fix these mistakes and help create better opportunities for new buyers. Mistake #1 – Waiting Out the Market No one wants to purchase a home at the top of the real estate market. For the past few years, potential buyers have been waiting on the sidelines hoping for the market to change. To their dismay, home prices have reached record-highs and interest rates are climbing. What a first-time homebuyer may not realize is that there is often a large cost associated with waiting to buy. While many millennials have taken to social media to complain about home prices and hope for a future market crash, they are leaving money on the table right now.

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This information is deemed reliable but not guaranteed. Please contact Meridian Premier Homes to learn more about what properties are for sale and for current real estate information. Equal Housing Opportunity: Equal Opportunity Employer. It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin.We are committed to making this website compliant with the Americans with Disabilities Act. We wish all of our visitors to be able to easily access our services. Accessibility and usability are not always possible in every area of the website or for those visitors using assistive technologies and devices. If, at any time, you have specific questions or concerns about the accessibility of any particular page, please contact us. Meridian Premier Homes. Privacy Policy | Consent Preferences.

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*Your name, phone number, and email address are required so that we may contact you to schedule an appointment.
By submitting this form with your telephone number you are consenting for Meridian Premier Homes and authorized representatives to contact you even if your name is on the Federal "Do-not-call List."
This field is for validation purposes and should be left unchanged.