HOUSING UPDATE
You may be wondering if home prices are going to crash And believe it or not, some people might even be hoping this happens so they can finally purchase a more affordable home But experts agree that’s not what’s in thecards–andhere’swhy
There are more people who want to buy a home than there are homes availabletopurchase.That’swhatdrivespricesup.
Let’s break that down and explore why, nationally, home prices aren’t going tobecomingdownanytimesoon.
PricesDependonSupplyandDemand
The housing market works like any other market – when demand is high and supplyislow,pricesrise.
According to the latest estimates, the US is facing a housing shortfall of several million homes That means there are far more people looking to buy (demand) than there are homes for sale (supply) That mismatch is the key reason why prices won’t fall at the national level As David Childers, PresidentofKeepingCurrentMatters(KCM),putsit:
“Themaindrivingforceonpricingisthelimitedamountofinventoryinmost markets across the country That issue is not going to be solved overnight orinthenexttwelvemonths.”
HowDidWeGetHere?
For over 15 years, homebuilders haven’t been building enough homes to keep up with buyer demand After the 2008 housing crisis, homebuilding slowed significantly,andit’sonlyrecentlystartedtorecover(seegraphbelow):
If you’re wondering what it’ll take for prices to come down, it all goes back to supply and demand With inventory still limited in most markets, prices are likely to remain steady or rise
Even with new construction on the rise over the past few years, builders are playing catch-up And according to AmericanProgressorg, they’re still not even keeping up with today’s demand, let alone making up for yearsofunderbuilding
And as long as there’s a housing shortage, home prices will remain steadyorincreaseinmostareas
YourLoanType
Themajorityofexpertsagreepriceswillkeeprisingnextyear,butata muchslower,healthierpace(seegraphbelow):
But it’s important to note home prices vary by market What happens nationally might not reflect exactly what’s happening in your area If your local market has more inventory available, prices could grow more slowly or even decline slightly. But in areas where inventory remains tight, prices will keep climbing – and that’s what’s happening throughout most of the country That’s why it’s crucial to work with a local real estate expert who understands your market and can explain what’sgoingonwhereyoulive
CONTACT YOUR REALTOR OR CLICK HERE!
Carpet Trends that Prove This F Material Is Better Than Ever
The appeal of carpet warm and soft underfoot is undeniable How couple of decades, the plush covering has lost popularity to hardwo and other innovative floor coverings. As comfort tends to outshine tren again a popular choice in key areas of the home. However, if you're r carpet back into your home, expect the options to look a little different.
1. Stunning Stair Runners
With options as varied as sophisticated tweeds, playful polka hues, and natural fibers, stair runners have won the hearts of h wowed the internet through Instagram tags and TikTok DIYs. because staircases are prime spots to add a little personality exciting design aesthetic, stair and hall runners add an extra la those slippery hardwoods," says Matt Lovetere of The Carpet W people are spending more time at home than ever before, safet have become integral parts of a designer's approach."
2. Cozy Living Spaces
Carpet is definitely back in lounge areas, according to Heather Goerzen of Havenly This includes family rooms, bedrooms, and any space where coziness and comfort is the primary goal. "Think playtime and Netflix nights," says Goerzen. "In these spaces, a cushioned touch underfoot feels not only warranted but welcomed " In particular, Goerzen is seeing low-pile carpets with subtle textures This contemporary style is soft without going shag, and the low profile is perfect for layering with an area rug that adds color and pattern to complement the space.
3 Open-Concept Dividers
Carpet tiles are popular for fast and bold visual updates, and now their transformative nature is being applied to open-concept homes "Carpet tile is a great option for delineating different areas within larger spaces," says James Pope of Interface and FLOR "One of the first uses that come to mind is using carpet tiles to create zones designating a work or school area within an open floor plan." Carpet tiles have the flexibility to both visually designate a workspace and ensure it meets the room's needed function, such as providing just enough flooring for a desk chair to roll adequately
4. Pet-Friendly Flooring
Pet owners are often looking for little ways to make their lives easier "We are seeing a noticeable increase in interest and demand for home and decor products that can withstand the wear and tear of our Pets and carpet might seem like an unexpected pairing, but modern flooring materials are built to withstand messes. Case in point: Many retailers offer carpets with pet-proof technology that is stainresistant and durable while still providing softness underfoot And, Gooding notes these "pet-proof" carpets are equally great for families with children or simply hightraffic spaces. pets," says Charlotte Gooding, of The Home Depot.
5 Updated Wall-to-Wall Carpet
Lovetere notes another way carpet is finding a new fit in open-concept spaces "Broadloom carpet has finally caught on by manufacturing oversized materials," he says. "These 15-foot and 16-foot widths allow us to make near room-sized rugs as an alternative to wall-to-wall carpeting." This design is called "cut-to-fit" because the carpet follows the contours of the space curves and all and stops before reaching the wall to reveal the flooring around the perimeter of the room This installation lets both hard and soft flooring materials shine
6.
Inviting Colors
When it comes to carpet color, light and bright neutrals are timeless, but anything goes Stripes, herringbone patterns, animal prints, and soft florals are also finding their place on people's floors as are earthy tones and moody hues The softness of carpet provides a visual and tactile complement to both warm and bold colors that continue to take hold in paint and home accents. With carpet as a base canvas, touches of metallics or wood accents can then be used to provide contrast and enhance the look
TIPS FOR CLEANING AROUND YOUR HOLIDAY DECOR
For many of us, decorating for the holidays is essential for making those core holiday memories Unfortunately, extra items sitting around the home means more surface area for dust to settle What’s more, it’s difficult to keep up with your regular cleaning routine due to decorations taking up space (not to mention less time to clean because of the additional activities celebrating upcoming holidays.!)
1 Clean Your House Before Decorating
“Do a deep clean before you decorate,” Maria Mock, President of Molly Maid, says What’s involved in a deep clean? “A deep clean goes beyond surface cleaning … and should remove grime, bacteria, mold, and dirt from hidden areas, such as the refrigerator or floor,” Mock says Mock also recommends dusting decorations before setting them out (yep, even your artificial Christmas tree) to reduce the collection of dust and grime while your home is decorated for the holidays
2 Dust Frequently Around Ornaments, Wreaths, and Knick-Knacks
“Holiday decorations can gather dust quickly so it’s important to frequently dust decorations with a damp rag or microfiber duster,” Mock says Use a slightly damp microfiber cloth to dust around decorations and wipe down surfaces. For extremely delicate items, such as ornaments or porcelain knick-knacks, a feather duster works well too.
3 Freshen Up Fabric Items in the Dryer
Vanessa Terra Bossart, owner of Green Terra Cleaning, says fabric decor items are often overlooked, but can quickly accumulate dust. “Decorative pillows, fabric garlands, and even tree skirts can collect dust quickly, so giving them a light refresh helps keep holiday decorations looking vibrant and clean,” Bossart says To get rid of the dust in pillows, stockings, and other fabric decor, Daniel Brown, CEO Handy Cleaners,recommends placing items in the dryer on the cool or air fluff setting
4 Spray Greenery With Hairspray
Hairspray has multiple surprising benefits for keeping holiday decor fresh First, Brown recommends using hairspray to keep dust at bay on artificial greenery, such as garlands and wreaths. “For artificial greenery, spray lightly with hairspray before setting up,” Brown says. “The hairspray will repel dust from settling on the leaves ” You can also use hairspray on real greenery items, like wreaths, to help them last longer The hairspray acts like glue to hold the needles on the wreath and seals in the wreath’s moisture This will prevent needles from falling off the wreath and keep it greener and fresher longer.
5 Vacuum Tree Skirts and Pine Needle
Hotspots
While there is nothing quite like the smell and look of a real Christmas tree, it’s a messy holiday decoration. Mock recommends vacuuming the areas where pine needles may fall at least weekly. “Tree skirts can often get messy with fallen pine needles, pet hair, and dust so make sure to vacuum your tree skirt,” Mock says “Holiday rugs and doormats can also gather dirt quickly so make sure to give them a vacuum weekly ”
6 Don’t Forget Candles
Candles are a popular decoration and are often seen throughout homes during the holiday season, but these items can also collect dust quickly “Candles can gather dust and lose their shine,” Mock says. “Wipe them down with a damp rag.” Clean your candles as part of your weekly cleaning and dusting schedule.
BENJAMIN MOORE
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