Found 109 blog entries tagged as Home Prices.

You’ve probably heard it for the past couple years: “It’s a tough time to buy a house.” High mortgage rates. Low inventory. Homes selling faster than your favorite Pizza Ranch buffet on a Sunday.

But here’s the thing… 2025 is shaping up to be a little different. And if you’ve been sitting on the sidelines, this might be the time to lace up your cleats and get in the game.

At the Brookings Home Team pwrd by Century 21 Krogman & Co, we’re seeing signs that the playing field is starting to level for buyers—and we’re not the only ones saying it.

1. More Homes Are Hitting the Market

While we’re not in “unicorn years” inventory levels yet, more sellers are dipping their toes back into the market. That means more choices for you—and less of…

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Are you looking for better home prices, or even a lower mortgage rate? You might find both in one place: a newly built home. While many buyers are overlooking new construction, it could be your best opportunity in today’s market. Here’s why.

There are more brand-new homes available right now than there were even just a few months ago. According to the most recent data from the Census and the National Association of Realtors (NAR), roughly 1 in 5 homes for sale right now is new construction. So, if you’re not looking at newly built homes, you’re missing out on a big portion of what’s available.

And with more new homes on the market, builders are motivated to sell their current inventory. As a result, many are taking steps to draw in buyers.

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There are plenty of headlines these days calling for a housing market crash. But the truth is, they’re not telling the full story. Here’s what’s actually happening, and what the experts project for home prices over the next 5 years. And spoiler alert – it’s not a crash.

Yes, in some local markets, prices are flattening or even dipping slightly this year as more homes hit the market. That’s normal with rising inventory. But the bigger picture is what really matters, and it’s far less dramatic than what the doom-and-gloom headlines suggest. Here’s why.

Over 100 leading housing market experts were surveyed in the latest Home Price Expectations Survey (HPES) from Fannie Mae. Their collective forecast shows prices are projected to keep rising over…

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Are you trying to buy a home but you feel like you’re up against deep-pocketed Wall Street investors snatching up everything in sight? Many people believe mega investors are driving up prices and buying up all the homes for sale, and that’s making it hard for regular buyers like you to compete.

But here’s the truth. Investor purchases are actually on the decline, and the big players aren’t nearly as active as you might think. Let’s dive into the facts and put this myth to rest.

Most Investors Are Small, Not Mega Investors

A common misconception is that massive institutional investors are dominating the market. In reality, that’s not the case. The Mortgage Reports explains:

“On average, small investors account for around 18% of the…

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If there’s one thing we know about real estate, it’s that the market never stays the same for long. Whether you're buying, selling, or just keeping an eye on home values, knowing what’s coming can help you make smart decisions. At the Brookings Home Team, we keep a close watch on trends so we can help our clients navigate the market with confidence. So, what’s in store for 2025 and beyond? Let’s break it down.

Home Prices: Will They Keep Climbing?

Over the last few years, we’ve seen steady appreciation in home values, and that trend isn’t slowing down just yet. Experts predict modest but continued growth in home prices, particularly in desirable areas like Brookings. Low housing inventory is still a challenge, meaning well-priced homes will…

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It’s no secret that affordability is tough with where mortgage rates and home prices are right now. And that may have you worried about how you’ll be able to buy a home. But, if you don’t need a ton of space, you may find you have more cost-effective options in an unexpected place: new home communities.

Builders Are Building Smaller Homes 

Since smaller homes typically come with smaller price tags, buyers have turned their attention to homes with less square footage — and builders have shifted their focus to capitalize on that demand. As U.S. News notes:

“The combination of higher home prices and mortgage rates has strained a lot of people's budgets. And that's something builders recognize. To this end, they may be leaning toward smaller…

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Buying a home in today’s market can feel like an uphill battle – especially with home prices and mortgage rates putting pressure on your budget. If you’re feeling stuck, co-buying could be one way to help you get your foot in the door. Freddie Mac says:

“If you are an aspiring homeowner, buying a home with your family or friends could be an option.”

But there are some things you'll want to consider first. Let’s explore why co-buying is gaining popularity right now among some buyers and see if it may make sense for you too.

What Is Co-Buying?

Co-buying means buying a home with someone like a friend, sibling, or even a group of people. And, with today’s high home prices and mortgage rates, it’s an option more people are turning to.

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With rising home prices and volatile mortgage rates, it’s important you know about every resource that could help make buying a home possible. And one thing you’ll want to be aware of is just how much the number of down payment assistance (DPA) programs has grown lately.

Take a look at the graph below to see how many new programs have been added in the last year, according to data from Down Payment Resource:

More Programs, More Opportunities for You

So, what does this increase mean for you? With more programs available, there’s a higher likelihood that one of them could help you reach your homeownership goals.

And these programs aren’t small-scale help either – the benefits can go a long way toward covering a chunk of your costs. As…

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If you’ve been renting for a while, you’ve probably wondered when the time will come when buying makes more sense than continuing to rent. Well, good news—recent data suggests that time might be now! According to a recent Zillow study, in 22 of the 50 largest metro areas across the country, monthly mortgage payments are now lower than rent (see chart below for the numbers). While Brookings, South Dakota, isn’t one of these major metro areas, the trends we’re seeing nationwide could mean that buying a home in our area may soon become a more affordable option.

The Current Market: What’s Changing?

As mortgage rates ease from their recent peak and home prices stabilize, the affordability of purchasing a home is improving across the board. In many…

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If you’ve been wondering what’s going on with home prices lately, you’re not alone. With so much information out there, it can be tough to make sense of it all—whether you're looking to buy a home or thinking of selling your home.

As a buyer, you may worry about overpaying, and as a seller, you might be concerned about not getting the price you want. So, let’s clear up some of the confusion by breaking down what’s really happening with home prices.

Home Price Growth Is Slowing, but Prices Aren’t Falling Nationally

Across the U.S., home price appreciation is moderating. What this means is that home prices are still going up, but not as quickly as they were over the last few years. To illustrate this, take a look at the data from Case-Shiller…

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