Balancing Your Wants and Needs as a Homebuyer This Spring

KCM • March 21, 2023

Balancing Your Wants and Needs as a Homebuyer This Spring




Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market Trends Report from realtor.com puts it this way: 


“While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”The current housing shortage has an impact on how you search for a home this spring. With limited options on the market, buyers who consider what’s a necessity versus what’s a nice-to-have will be more successful in their home search.

The first step? Get pre-approved for a mortgage. Pre-approval helps you better understand what you can borrow for your home loan, and that plays an important role in how you’ll put your list together. After all, you don’t want to fall in love with a home that’s out of reach. Once you have a good grasp on your budget, the best way to prioritize all the features you want and need in a home is to put together a list.

Here’s a great way to think about them before you begin:

  • Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle.
  • Nice-To-Haves – These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender.
  • Dream State – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner.

Finally, once you’ve created your list and categorized it in a way that works for you, discuss it with your real estate agent. They’ll be able to help you refine the list further, coach you through the best ways to stick to it and find a home in your area that meets your needs.

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House Hunting Just Got Easier – Here’s Why

By KCM • April 18, 2025
House Hunting Just Got Easier – Here’s Why If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search again. As Daryl Fairweather, Chief Economist at Redfin, explains: “ Now is the best time to buy in the last two years. Mortgage rates are comparable to what they were two years ago, and prices remain high. However, there is significantly more inventory . . . ” The number of homes for sale has grown compared to last year, and even more options are on the way. While this is typical for the busy spring season, here’s why this is so important right now. Homeowners are listing their houses at the highest pace we’ve seen in a while. New Listings Are on the Rise Over the past few months, the number of new listings, or homes that have recently been put on the market for sale, has been steadily rising (see graph below): Basically, more people are putting their homes on the market each month – whether they’re moving up, downsizing, or relocating. And this trend is a positive sign for the housing market. Sellers who may have been on the fence the past few years are starting to jump back in. That’s helping to boost overall inventory and create better opportunities for both buyers and move-up sellers alike. But it’s not just that the number of fresh options is up month-over-month; there’s also been a jump compared to last year. According to Realtor.com, new listings in March were 10.2% higher than last year, making it the biggest March for new listings since 2021 (see graph below): For anyone who’s been waiting for more choices, this is exactly what you’ve been hoping for – because more homes coming onto the market means more options and a better shot at finding one that fits your needs. To make sure you don't miss out on any of the latest listings for your area, lean on a local real estate agent. Bottom Line If you're thinking about making a move this spring, now may be the time to start exploring your options. With more fresh listings hitting the market, you may find a home you love waiting for you. What features or neighborhoods are at the top of your wish list?
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