Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You're not alone, but there’s some good news that may ease your worries. New home construction is up and is becoming an increasingly significant part of the housing inventory.

That means when you go to put your house on the market this summer, considering newly built homes is crucial for expanding the options you’ll have for your next move.

Near-Record Percentage of New Home Inventory

Newly built homes today make up a near-record percentage of the total number of homes available for sale (see graph below):

In fact, as the data shows, newly built homes now make up 31% of the total for-sale inventory. Over…

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Blog Post 4

2611 Sweetgrass Dr, Brookings, SD

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  • Property Video
  • Virtual Walking Tour
  • Description
  • Photos
  • Marketing Your Home
  • Real Estate Reports for Home Owners, Sellers & Buyers!
  • More
$ CLICK FOR CURRENT PRICE 3 BEDROOMS 1.75 BATHROOMS 0.37 acres Lot

Just Like NEW! This ONE OWNER, custom designed, 0-entry, ranch style home featuring 3 bedrooms, 2 bathrooms and a sunroom with a gorgeous view. The 3 stall garage is heated, with epoxy floor, floor drains and Keyless SMART entry pads. There is even a 4th door on the side for even more access. The kitchen features granite counter tops, tiled backsplash, large island and walk-in pantry. Bathroom Suite has dual sinks, tiled…

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You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it. 

Every month, the Mortgage Bankers Association (MBA) releases the Mortgage Credit Availability Index (MCAI). According to their website:

“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”

Basically, the index determines how easy it is to get a mortgage. Take a look at the graph below of the MCAI since they started keeping track of this…

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Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision.

Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth. That may be why, in a recent Fannie Mae survey, 70% of respondents say they believe buying a home is a safe investment.

Here’s a look at how…

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Will home prices crash in 2023? If you thought this, you weren’t alone. But, that doesn’t mean there was a crash. I discuss it more in this video, and if you have any questions, please let us know here at the Brookings Home Team!

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Selling your house is no simple task. While some homeowners opt to sell their homes on their own, known as a FSBO (For Sale by Owner), they often encounter various challenges without the guidance of a real estate agent. If you’re currently considering selling your house on your own, here’s what you should know.

The most recent Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveyed homeowners who’d recently sold their own homes and asked what difficulties they faced. Those sellers say some of the greatest challenges were prepping their home for sale, pricing it right, and properly managing the required paperwork, just to name a few.

When it comes to selling your most valuable asset, consider the…

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Have you built up some equity in your home? Chances are that your home has gone up in value by quite a bit. Hear what we mean in this video and let us know at the Brookings Home Team if we can help you use that equity to find your next home!

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3617 Pleasant View Dr, Brookings, SD

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  • Property Video
  • Virtual Walking Tour
  • Description
  • Photos
  • Marketing Your Home
  • Real Estate Reports for Home Owners, Sellers & Buyers!
  • More
$ CLICK FOR CURRENT PRICE 4 BEDROOMS 2.5 BATHROOMS 0.34 acres Lot

You'll have plenty of space both inside and outside. This 4 bedroom, 2.5 bath ranch home sits on a large lot that is 100 x 150 with a garden area and a 12 x 16 storage shed. Kitchen features a gas stove, island, pantry and ALL the appliances are included! Having main floor laundry with a 1/2 bath is so convenient. The sellers have made numerous improvements over the years, make sure you take a look. There is a heated ''mancave'' inside the large 26…

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Some Highlights

  • Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady.
  • Rents typically increase with inflation. Maybe that’s why, according to a recent survey, 65.1% of landlords say they plan to raise the rent of at least one of their properties within the next 12 months.
  • Especially when inflation is up, having a stable housing payment can be helpful. Let’s connect so you can learn more and start your journey to owning a home today.

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