Found 106 blog entries tagged as Home Prices.

 



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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If you're considering selling your home in Brookings, SD, you're not alone. Whether it’s the idea of downsizing, relocating, or moving closer to loved ones, there are plenty of reasons to make a change. But when it comes to selling a home in today’s housing market, you might be wondering about one critical factor: affordability. Here’s the good news—your home equity could play a significant role in making that decision easier. Let’s explore two key elements that influence how much equity you have and what that could mean for you.

How Long You’ve Lived in Your Home

One of the most important factors when it comes to home equity is how long you’ve lived in your current home. This is referred to as homeowner tenure. Back in the day—between 1985 and…

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Thinking about selling your house but unsure if now’s the right time? It’s a question many homeowners face, and while the financial aspects are always important, there’s another big factor to consider: your lifestyle. Sometimes, life’s changes can be the nudge you need to make a move sooner than expected.

According to the National Association of Realtors (NAR), lifestyle changes often drive the decision to sell. As shown in the annual report, many home sellers were motivated by the desire to be closer to family or friends, outgrowing their current home, or experiencing significant milestones like marriage or the arrival of a new baby. Others made the leap to downsize or relocate for work.


If you’re feeling the need for more space, better …

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It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move.

Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering, so you don’t have to pause your plans in the meantime.

Here’s a look at decades of data that shows exactly what’s happened to home sales, prices,…

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