According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know
A lot of that fear is probably coming from what you’re hearing in the media or reading online But here’s the thing to remember Negative news sells That means, you may not be getting the full picture You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains:
“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it ”
Here’s a look at the data to set the record straight.
Case-Shiller releases a report each month on the percent of monthly home price changes If you look at their data from January 2023 through the latest numbers available, here’s what you’d see:
Case-Shiller: Prices
Month-Over-MonthPercentChangeinHomeValues
(SeasonallyAdjusted)
What do you notice when you look at this graph? It depends on what color you’re more drawn to. If you look at the green, you’ll see home prices rose for the majority of the past year
But, if you’re drawn to the red, you may only focus on the two slight declines. This is what a lot of media coverage does. Since negative news sells, drawing attention to these slight dips happens often But that loses sight of the bigger picture
Here’s what this data really says. There’s a lot more green in that graph than red And even for the two red bars, they’re so slight, they’re practically flat If you look at the year as a whole, home prices still rose overall.
It’s perfectly normal in the housing market for home price growth to slow down in the winter. That’s because fewer people move during the holidays and at the start of the year, so there’s not as much upward pressure on home prices during that time That’s why, even the green bars toward the end of the year show smaller price gains
The overarching story is that prices went up last year, notdown.
To sum all that up, the source for that data in the graph above, Case Shiller, explains it like this:
“Month-over-month numbers were relatively flat, However, the annual growth was more significant for both indices, rising 7 4 percent and 6 6 percent, respectively ”
If one of the expert organizations tracking home price trends says the very slight dips are nothing to worry about, why be concerned? Even Case-Shiller is drawing your attention to how those were virtually flat and how home prices actually grew over the year.
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We’re here to help you purchase the home of your dreams. We know that buying a home is one of the most important decisions you will make. Few things give you more pride than owning your own home, and you will probably make no greater single investment in your lifetime We want to help you make that dream come true. There are many different types of loan programs you can choose from, and the best loan program for your neighbor may be different than the one that is right for you. From getting preapproved to finding the perfect home, understanding the home-buying process can help give you peace of mind. So can partnering with a mortgage lender you can trust. Put our expertise to work for you. Whether you ’ re building or buying your home, FBC is here to help you along the way!
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According to industry experts, LED lighting and water-conserving or energy-efficient fixtures are leading sustainable features for kitchen and bath.
Over 70% of industry experts including designers, remodelers, and kitchen and bath specifiers agree that demand for sustainability in kitchen and bath design will increase in the next two years As homeowners and buyers become more aware of sustainable design, 54% believe it will become a “must-have” in the future, according to the 2024 National Kitchen & Bath Association (NKBA) Sustainability Report
In the past two years, demand for sustainability in kitchen and bath design has risen, the report finds. Fifty-two percent of respondents cite the increase in demand for sustainable kitchen design and 47% for sustainable bathroom design Millennials lead the consumer segment for being most interested in sustainable design for both kitchens (63%) and bathrooms (60%)
While experts agree there is room for significant growth for sustainability in the kitchen and bath industry, sustainable features can be found in the majority of new kitchens and baths Experts say LED lighting is one of the most popular sustainable features, with 81% noting this element in kitchens and 75% in bathrooms
Products that are water-conserving (55%), VOC-free or nontoxic paints and stains (43%), insulated windows and doors (42%), and donating old cabinets (35%) are the top noted sustainable elements for bathrooms among homeowners In the kitchen, creating storage for recycling (60%), energyefficient products (59%), insulated windows and doors (46%), and VOC-free or nontoxic paints and stains (46%) are top of mind for homeowners.
The least integrated sustainable products include smart faucets (29% in kitchens and 27% in bathrooms) and recycled content in materials (21% in kitchens and 16% in bathrooms).
In terms of design practices, industry experts say that sourcing nontoxic materials (60%) is most important to homeowners followed by sourcing products that require less energy to run (51%) and sourcing durable products that never need to be replaced (49%) Using domestic products instead of sourcing internationally (48%) was close behind in importance
According to the report, designers are most familiar with retrofitting existing spaces, sourcing domestically, and recycling and repurposing old materials, and are least familiar with reducing or eliminating greenhouse gas emissions, sourcing materials requiring low energy to produce, and sourcing lightweight materials that reduce transportation impact
The report notes demand for sustainable design is led by homeowners and industry associations. Yet, designer education and homeowner buy-in are the top barriers to sustainability integration
Learnhowtoimplementnewhomedecorthatfeelslikeyouamidconstantlychanginghometrends
With a new home decor trend popping up on social media every other day, defining your personal style without falling into the trend trap can be a challenge. One day it's all about calming neutrals, and then hot Barbie-pink is all the rage. New trends can be fun and inspire you to redecorate your home, but they can also be overwhelming and make it hard to figure out what your actual style is.
Invest in quality pieces that stand the test of time, stick to what you genuinely like, and incorporate trends through less permanent items. I think the best way to hone in on your personal style is to evaluate what design elements make you feel good," interior designer, Sarah Tract says While the question, "Does it spark joy?" became synonymous with decluttering your home, it's a good one to ask yourself when narrowing down and ultimately defining your personal style.
“Going through your saved designs on Pinterest and Instagram is a great starting point to know which direction you want to go in for your own space," Tract says. Look through images you've saved and paint swatches or fabric scraps you've collected to see whether you notice a pattern emerging. Perhaps you're drawn to a specific color palette or seem to have repeatedly saved images featuring a certain style of lighting. Write down all noticeable patterns and trends you see, from wall colors to architectural features.
Think about the way you live in your home. Do you love slow weekend mornings reading the paper and enjoying a delicious breakfast? A cozy breakfast nook with a built-in banquette may be just the thing to implement into your kitchen Do you collect a certain type of dishes? Replace upper kitchen cabinets with open shelving to display your collection.
The key to creating a space that feels both fresh and timeless is in the way you incorporate trends.
Instead of taking the trendy route for an expensive kitchen remodel or investing in the new 'it' sofa that doesn't have any lasting power, take Tract's expert advice for a more subtle and affordable way to incorporate trendy pieces. "Lean into trends with less permanent situations such as pillows, throws, and accessories," she says. "It will allow you to keep up with the trends and update them for more current ones in the future."
When it comes to which pieces are worth investing in, Tract suggests splurging on items you'll use for years. "Think of sofas, rugs, tables, and light fixtures as items that should be timeless and everlasting," she says. These big ticket items are the pieces that typically anchor a room and set the tone for other layers such as window treatments, wall decor, and decorative accents They're also the pieces that stay in place throughout the changing seasons and holidays, so going for a timeless aesthetic is key.
Instead of giving into the pressure to keep up with whatever is currently in style, take your time and collect furniture, artwork, and decorative textiles that speak to you. An interior that has been collected over time feels lived-in, warm, inviting, and uniquely personal. If you've moved multiple times, you'll notice the pieces that have followed you to every new home those are the timeless items that have a lasting presence and personal value. They form the perfect base you can layer with more trendy pieces to refresh and recycle the things you've owned for years
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