Could Moving a Bit Further Out Change Everything About Your Budget?

by Patricia Tabachuk

Could Moving a Bit Further Out Change Everything About Your Budget?

Whether you’re dreaming about buying your first home or wondering if it’s time to move on from the one you’re in, affordability is probably weighing on your mind. Home prices are still high in many markets, and even though things have improved a bit over the past year, making the numbers work can still feel like a stretch.

But the people finding ways to move right now usually have one thing in common. They didn’t wait for affordability to come to them. They went looking for it.

According to PODS, 61% of people across all generations say affordability is the biggest factor when deciding where to move. And it’s led a growing number of people to do one thing – broaden their search to include more affordable areas they hadn’t seriously considered before. As PODS, put it:

“. . . moving is increasingly driven by affordability, connection, and quality of life. As economic pressures persist, Americans are taking a more intentional, values-driven approach to where they choose to live.”

It’s Not Just the Home Price – It’s the Whole Cost of Living

Here’s where it gets really interesting. When people talk about moving for affordability, they’re not just talking about finding a cheaper house. They’re thinking about the full picture. What does it actually cost to live somewhere?

WalletHub looked at exactly this, measuring housing costs as a share of median monthly household income across every state (see map below).

Take a look at where you live on that map. The lighter the blue, the more affordable it generally is to live there. The darker the blue? Just the opposite.

If your state is showing up on the darker blue end of the scale, the cost of living may be putting a real pinch on your wallet, and it may be worth exploring what a lighter-blue area could mean for your finances.

Because if you’re less financially stretched, imagine how that could change things. Less stress. Less worry. More freedom and peace of mind.

You Don’t Have To Move to Another State To Find a Better Deal

But finding more affordable homeownership doesn’t have to mean a cross-country move. It doesn’t even have to mean leaving your state, your family, or your favorite coffee shop behind.

Every market has more affordable pockets that most buyers never think to explore – neighborhoods, towns, and communities where home prices are lower, property taxes are more manageable, and the overall cost of living just works better.

A great local real estate agent knows exactly where those places are.

And if you work remotely, or have any flexibility in where you’re based, your options open up even further. Remote work has already changed the way millions of people think about where to live, and that trend isn’t going away.

When location stops being tied to a daily commute, a more affordable area that’s a bit farther out suddenly becomes a very real option.

Bottom Line

Affordability is a real challenge, but it’s not an unsolvable one. The key is being open to places you might not have considered before. A local real estate agent can help you find them.

Ready to find out which areas have the best affordability right now? Reach out today.

What Rising Inflation Means for Your Move

by Patricia Tabachuk

What Rising Inflation Means for Your Move

Data shows inflation is moving in the wrong direction. But before the headlines send anyone into a panic, here’s what’s actually going on, why it matters for the housing market, and what it means if you’re thinking about buying or selling.

Inflation Went Up – Here’s What That Actually Means

The government tracks inflation in a variety of ways. One is something called PCE – the Personal Consumption Expenditures Price Index. It measures how much more (or less) people are paying for goods and services compared to a year ago. And just based on your own expenses, you can probably guess which way that’s trending.

That’s the one everyone is talking about right now. Check out the yellow line to see how that’s spiked since February (see graph below). A big driver of this jump is the ongoing conflict in the Middle East, which has pushed gas and energy prices significantly higher.

Now, you may have noticed there’s a second line. The blue line shows core PCE. That’s the same measure, but with gas and energy prices stripped out. The Federal Reserve (the Fed) actually watches this number most closely because energy prices swing around a lot and can be misleading.

And here’s the somewhat encouraging part.

Core PCE is rising, but not nearly as fast as the overall number. That suggests a good chunk of the inflation spike we’re seeing right now is tied directly to what’s happening overseas. So, when that situation settles down, inflation may settle a bit, too.

Why This Matters for Mortgage Rates

Here’s the housing connection. When inflation is high, the Fed tends to keep the Federal Funds Rate elevated or even raise it to try to taper spending and cool inflation back down. And while it’s not a one-for-one relationship, that Federal Funds Rate can have an impact on your mortgage rate when you buy.

Right now, based on the information we have, there’s roughly a 50/50 chance the Fed actually raises the Federal Funds Rate before the end of 2026, according to CME FedWatch (see graph below):

While it’s too soon to say where this goes for certain and if we’re headed for a rate hike, it does mean mortgage rates are probably not coming down as soon as most people were hoping.

If you’ve been waiting for rates to drop significantly before making a move, this report is a reminder that “higher for longer” is still very much on the table. It really all depends on where the economy goes from here. According to Bankrate:

“Oil prices and bond yields have dropped a bit . . . but they’re still way up compared to the start of spring. Until there’s a resolution to the war, look for both inflation and mortgage rates to stay high.”

But This Is Not 2008 – Not Even Close

Just remember, a tough economy does not equal a housing crash. The conditions today are very different from what led to the 2008 collapse. Here’s why:

Inventory is still relatively low. There’s no flood of homes hitting the market.
Most homeowners today have strong equity in their homes.
Lending standards are far stricter than they were before 2008.
Today’s challenge is affordability, not a wave of distressed underwater sellers.

Uncomfortable and unhealthy are not the same thing. The market feels hard right now, but “hard” and “crashing” are very different.

You Still Have Options. Here’s What To Do.

High rates don’t mean homeownership is out of reach. It just means the path looks a little different. There are real strategies that can help, depending on your situation:

Ask your lender about different loan options. Adjustable-rate mortgages (ARMs) or rate buydowns may help lower your monthly payment in the short term.
Explore first-time buyer programs, down payment assistance, or seller concessions that could help offset costs.
Stay in close touch with a trusted agent and lender. When rates shift, and they will, you’ll want to be ready to move fast.

The right strategy, tailored to your goals, matters a lot more than waiting for the perfect moment that may never come.

Bottom Line

Inflation is still above where the Fed wants it, and that means mortgage rates are likely to stay elevated for a while. But for people who need to move, strategy matters far more than trying to perfectly time the market.

Wondering what this means for your specific situation? Reach out today. Let’s cut through the noise together and make a plan that actually works for you.

Market Updates • Patrica Tabachuk Real Estate Blog • June 8, 2026

The Mid-Year Housing Market Update: Why Forecasts Changed in 2026

by Patricia Tabachuk

The Mid-Year Housing Market Update: Why Forecasts Changed in 2026

If the housing market feels confusing right now, you’re not alone.

Mortgage rates have risen. Home sales haven’t picked up like expected. And many buyers and sellers are wondering when things are going to feel easier or be more affordable.

The truth is: a lot changed over the first half of this year.

Back at the end of 2025, economists were forecasting a much stronger housing market for 2026. They expected mortgage rates to come down, affordability to improve more dramatically, and home sales to rebound.

But lingering inflation, economic uncertainty, and growing geopolitical tensions overseas pushed mortgage rates higher than expected. And because rates stayed elevated for longer, many buyers continued to hold off.

That’s why experts recently revised their housing forecasts for the rest of the year (see graph below):

So, what does this actually mean for you? Let’s break it down.

Mortgage Rates May Remain Elevated

While just about everyone wants mortgage rates to go back to the uppers 5s or low 6s we saw at the start of the year, as of right now, the experts don’t think that’s likely to happen this year.

Instead, forecasts have been updated from the low 6s they originally projected. Many industry organizations are saying rates will stay in roughly the mid 6s this year. The good news is, that’s still lower than rates were a year ago.

Of course, this is based on what we know today. If the conflict overseas comes to an end or inflation drops, this could change. But if you’re waiting for lower rates, it may not pay off in the way you expect.

Existing Home Sales Revised Lower

Back in late 2025, experts expected we’d sell an average of 4.5 million homes this year. Now? That’s dropped down a bit to 4.2 million.

That tells us something important: buyers are still hesitant because affordability remains challenging.

Higher mortgage rates have made monthly payments harder to manage, especially for first-time buyers. And that’s slowed the pace of the market compared to what was originally expected. But even though the forecast was revised down, we’re still expected to sell more homes than last year.

Once geopolitical tensions resolve and rates begin to settle down, many experts believe that group of buyers will be ready to jump back in. As Lawrence Yun, Chief Economist at NAR, explains:

“There is sizable pent-up demand that could be released into the market.”

There has already been a few glimmers of renewed hope lately. In recent months, pending homes sale have been improving month-over-month despite higher rates.

So, if you’re able to afford a home at today’s rates, it could still make sense to buy now. Because otherwise, if you wait, you’ll have more competition (and potentially fewer homes to choose from) when those others buyers jump back in.

New Home Sales Also Slowed

Builders also expected to have a stronger year. Earlier forecasts projected new home sales would top 700k in 2026. Now, economists expect we’ll be just shy of that number.

Again, mortgage rates are a major reason why.

But the upside for buyers is that builders may be even more motivated to sell. That means builder incentives, negotiation opportunities, and pricing flexibility may continue in many markets. So, if you live somewhere where there’s more new construction, this may actually be a bright spot for you.

Builders could be more ready to negotiate, and that gives you more leverage to get a better deal.

Home Prices Are Still Expected To Rise

This is one of the most important takeaways from the entire forecast. Even though sales activity is slower, on average, experts did not revise their home price forecast downward.

They still expect prices to rise nationally this year.

Why? Because while buyer demand has softened, the number of homes for sale is still relatively limited overall. That imbalance is helping support prices, even in a slower market.

Of course, conditions vary depending on where you live. Some markets are cooling more than others. But nationally, experts are still projecting steady price growth — not a major decline. And that should be a comfort whether you’re buying or selling.

Because sellers don’t want a major drop in prices. And while buyers may think they do, generally you feel better about a big purchase when it doesn’t depreciate right away.

Bottom Line

The housing market hasn’t rebounded as quickly as experts originally hoped. But that doesn’t mean it’s stalled.

Higher inflation and lingering economic uncertainty caused economists to revise their forecasts for this year. But importantly, when those two things settle down, many experts believe the market will regain its momentum.

So don’t see this revision in forecasts as a sign of trouble. See it as a temporary reaction to overall conditions and uncertainty.

If you want to know what’s happening in our local market, and what it could mean for your plans for the rest of this year, let’s connect.

Market Updates • Patrica Tabachuk Real Estate Blog • June 1, 2026

Less House, More Home: Why Smaller Homes Are Paying Off for Today’s Buyers

by Patricia Tabachuk

You started shopping with a specific mental image of your future home in your mind. Then the houses in your budget came in smaller than you pictured.

That’s the reality for a lot of buyers right now. Affordability is tight.

But don’t let that discourage you. Going smaller might actually be a smart play in today’s market – and the upside can be bigger than you’d think. Let’s break down two places to look where smaller won’t necessarily feel like a compromise.

Homebuilders Are Focused on Smaller Options Lately

For starters, smaller is kind of on trend right now. Newly built homes have been shrinking for years. According to the latest data from the Census, the median square footage of new single-family homes has been falling overall since 2014 (see graph below):

Why? Builders focus on the types of homes consumers want the most. After all, they want to build what will actually sell. And for the past decade, buyers seem to agree less is more.

Especially right now, when affordability is a key concern, they’re building homes with smaller square footage than a decade ago. And that’s good because that may be more within budget for many buyers. It’s part of why new home prices recently hit a 5-year low.

So, if you’re not getting excited about any of the existing options at your price point, it may be time to check out what builders are doing in your area.

You may find brand-new options you really love with all the latest and greatest features. And if you’ve got modern appliances and design, maybe slightly less square footage doesn’t feel like that much of a compromise anymore, especially if the house is move-in ready.

Condos Are Opening Up Another Path

Just in case you don’t have a ton of new builds in your area, another avenue worth exploring is condominiums or condos.

For buyers crunching numbers to make the math work, condos can take real pressure off the budget. According to the National Association of Realtors (NAR), the median price for condos is less than the median for single-family homes in every region (see graph below):

Part of that is because condos are typically smaller. And smaller square footage can come with a smaller price tag too. That’s a selling point to affordability-strapped buyers right now – and it’s one of the reasons we’re seeing a bump in condo sales.

The number of condos sold rose 2.7% from just a month ago. It’s also up year over year, according to NAR. Ali Wolf, Chief Economist for New Home Source, explains why more buyers are going this route:

“In addition to favoring smaller floor plans, more consumers are showing a willingness to live in an attached home. This shift is not driven by a preference for shared walls, but by a pursuit of value.”

The Community Does Some of the Heavy Lifting

Here’s why smaller may still work for you. Whether it’s a condo complex or a neighborhood of detached single-family homes, the right community can give you back in amenities what you trade in square footage.

Many developments are designed so the home is just one piece of where you actually spend your time. Master-planned communities often include walking trails, pools, fitness centers, co-working spaces, and outdoor gathering areas – the kind of features that pick up where your floor plan leaves off.

No room for a dedicated office? The co-working space might be just a five-minute walk away. Want a place to work out? It’s already built in with the shared gym. And features like that can make opting for a smaller footprint feel less like a compromise – and more like a big lifestyle upgrade.

Bottom Line

Today’s smaller single-family homes and condos have more going for them than the square footage suggests. They can give your budget some breathing room and put you in a community designed with lifestyle in mind.

Curious about the options in our area? Let’s connect.

Buying • Selling • June 1, 2026

The Real Reason Some People Are Still Moving Right Now

by Patricia Tabachuk

You may be telling yourself you’re going to wait to move – maybe you’re hoping mortgage rates will come down, prices will fall, or the market will feel a little easier.

And honestly? A lot of people feel that way right now. But here’s what some are starting to realize.

Waiting doesn’t usually fix the thing that made you want to move in the first place.

Your family still desperately needs more room. Your empty nest still feels too…empty.

Your parents or grandparents still need you to live closer.

You just got married… or divorced.

Your vision of retirement has you living somewhere else.

Eventually, life can reach a point where waiting feels harder than moving.

That’s why some people are still deciding to buy right now, even in today’s market. Not because conditions are perfect. But because the life changes behind their move never really went away.

And maybe that’s exactly where you are too. If so, you’re certainly not alone.

The Real Reasons People Move

Data from the National Association of Realtors (NAR) shows 1 in 5 buyers last year said they felt like they had to purchase a home at that time, no matter the market.

That’s an important reminder right now. Sure, the dollars and cents of your move have to make sense for you. But big life changes happen whether mortgage rates and home prices are high, low, or somewhere in between.

And those big life events happen more than you may think. NAR says roughly 22.5 million people experience major life changes in a typical two-year span (see graph below):

These are exactly the kinds of things that can change how much space you need, where you want to live, or what kind of lifestyle makes sense now. Chen Zhao, Head of Economics Research at Redfin, explains:

“Life doesn’t stand still—people get new jobs, grow their families, downsize after retirement, or simply want to live in a different neighborhood.”

And that’s what makes waiting so hard. Every month you spend hoping the market changes is another month living in a house that no longer works for your life. It’s stressful to feel stuck. And that feeling usually doesn’t disappear.

There May Be More Opportunity Than You Think

But while affordability is still a challenge, there may still be a way for you to make your move.

The number of homes for sale has been growing for 4 straight years (see graph below). That means more homes to choose from and, in some markets, more room to negotiate than buyers had just a few years ago.

That doesn’t mean moving is suddenly easy. But it does mean some buyers are finding ways to make a move work. So, if you’ve been putting your plans on hold, maybe the question isn’t just:

“What’s the market doing?” or “When will it get better?”

Maybe ask yourself this, too: “Can I still live where I’m at right now and make it work?”

If the answer to that second question is “no,” it may be worth having a conversation about what your options look like today – despite where rates or prices are. You could find your move is still possible after all. With more homes for sale, there’s a better chance to find one that fits your life (and your budget) right now.

Bottom Line

Life changes. Priorities shift. Families grow. Kids move out. Careers evolve. And eventually, the house you’re in may stop fitting the life you’re living.

If that’s been weighing on you lately, let’s talk through what your options could realistically look like today, no matter where rates or prices are.

Life can’t always wait for perfect market conditions. Maybe you don’t have to either.

Buying • Patrica Tabachuk Real Estate Blog • June 1, 2026

The Truth About Affordability Today

by Patricia Tabachuk

Let’s be real with each other for a second about affordability. Because you deserve someone who will be honest and transparent about what’s going on, especially if you’ve got a move on your mind.

Here’s the full picture of what’s happening and why. The good – and the bad. So, you know what it truly means for your move. Because while rates are certainly a big part of affordability, they’re not the only factor at play.

Mortgage Rates Have Been Rising

After a year or more of rates trending down, they’ve started to climb again. And, if you’re looking to buy, that’s not what you want to see. But it has happened. And here’s why.

Uncertainty is the enemy of mortgage rates.

And with lingering global uncertainty, ongoing tensions in the Middle East, and inflation refusing to fully cool off, there’s a lot that’s having an effect on rates. Colin Robertson, Founder of The Truth About Mortgage, put it plainly:

“You can’t have $100 a barrel oil and not expect inflation to rise, which translates to higher bond yields and mortgage rates.”

Take a look at the graph below. It uses data from Mortgage News Daily to show just how much all of those factors have had an impact:

It’s a pretty sharp contrast from where we’ve been, in a relatively short window. And it’s probably making you wonder: Should I just wait this out? Will rates fall when the uncertainty eases?

It’s possible. But it all depends on how the ongoing geopolitical conflict plays out and whether inflation continues to run hot afterwards – and for how long.

Rates probably aren’t heading down until both of those things improve. And even when that does happen, experts agree rates likely won’t be dramatically lower – maybe in the low to mid-6s. That’s the reality, and it’s worth knowing.

So, should you wait for lower rates? The general consensus is, if you can afford to buy and you find a home you like, it’s still worth it. Because no one knows for sure when rates will start to come back down – and how long do you really want to put your life on hold?

Wages Are Outpacing Home Prices

You’ve probably heard that inflation is making everything more expensive, and there’s no shortage of headlines about the cost-of-living outpacing paychecks. It’s a legitimate concern. And maybe you’re feeling the pinch yourself. But here’s what doesn’t make the headlines. It’s not all bad news.

Data from the Federal Reserve Bank of Atlanta and Redfin shows wages have actually been growing faster than home prices.

Recently, wages have been increasing at around 4% year-over-year.
And home price growth is closer to 2% year-over-year.

As a buyer, you want your income to rise faster than prices because that helps make your purchase more manageable financially, and it quietly chips away at the affordability challenge over time. That’s exactly what we’re seeing lately. And every little bit is going to help.

A big reason wages have been gaining ground on home prices? Home prices have actually stayed pretty steady.

Existing Home Prices Have Held Steady

Check out the graph below. It shows home price data from the National Association of Realtors (NAR) over the past 4 years. Notice anything? There’s been no dramatic runup, and no crash either. Just relative stability and slow growth:

Part of what’s keeping prices this stable is that buyers finally have more choices. That means less competition, more negotiating power, and more time to find the home that actually fits your life, not just the one you had to grab before someone else did.

And that gives you a chance to hopefully find something that works for your budget, even with today’s rates. At the same time, you’re not losing ground pricewise while you take time to make a careful decision.

Bottom Line

Yes, rates have been volatile, and global instability is keeping them from settling down anytime soon. There’s no sugar coating that. But the full picture of affordability is more nuanced than the headlines suggest.

Want to run the real numbers for your situation? Let’s talk. Reach out and let’s set up a quick, no-pressure conversation.

Patrica Tabachuk Real Estate Blog • Selling • January 29, 2026

Why So Many Homeowners Are Downsizing Right Now

by Patricia Tabachuk

Why So Many Homeowners Are Downsizing Right Now

For a growing number of homeowners, retirement isn’t some distant idea anymore. It’s starting to feel very real.

According to Realtor.com and the Census, nearly 12,000 people will turn 65 every day for the next two years. And the latest data shows as many as 15% of those older Americans are planning to retire in 2026. And another 23% will do the same in 2027.

If you’re considering retiring soon too, here’s what you should be thinking about.

Why Downsize?

Now’s the perfect time to reflect on what you want your life to look like in retirement. Because even though your finances will be going through a big change, you don’t necessarily want to feel like you’re living with less.

But odds are, what you do want is for life to feel easier.

Easier to enjoy.

Easier to manage.

Easier to maintain day-to-day.

The Top Reasons People Over 60 Move

You can see these benefits show up in the data when you look at why people over 60 are moving. The National Association of Realtors (NAR) finds the top 4 reasons aren’t about timing the market or chasing top dollar. They’re about lifestyle:

Being closer to children, grandchildren, or long-time friends so it’s easier to spend more time with the people who matter most
Wanting a smaller, more functional home with fewer stairs and easier upkeep
Retiring and no longer needing to live near the office, so it’s easier to move wherever you want
Opting for something smaller to reduce monthly expenses tied to utilities, insurance, and maintenance

No matter the reason, the theme is the same: downsizing isn’t about giving something up. It’s about gaining control and choosing simplicity. And it brings peace of mind to know your home fits the years ahead, not the years behind.

And the best part? It’s more financially feasible now than many homeowners would expect.

The #1 Thing Helping So Many Homeowners Downsize

Here’s the part that makes it possible. Thanks to how much home values have grown over the years, many longtime homeowners are realizing they’re in a stronger position than they thought to make that move.

According to Cotality, the average homeowner today has about $299,000 in home equity. And for older Americans, that number is often even higher – simply because they’ve lived in their homes longer.

When you stay in one place for years (or even decades), two things happen at the same time:

Your home value has time to grow.
Your mortgage balance shrinks or disappears altogether.

That combination creates more options than you’d expect, even in today’s market.

So, whether you just retired, or you’re about to, it’s not too soon to start thinking about what comes next. Sure, it can be hard to leave the house you made so many years of memories in, but maybe it’s time to close one chapter to open a new one that’s just as exciting.

Bottom Line

Downsizing is about setting yourself up for what comes next – on your terms.

If retirement is on the horizon and you’ve started wondering what your current house (and your equity) could make possible, the first step isn’t selling. It’s understanding your options.

Let’s talk. A simple, no-pressure conversation can help you see what downsizing might look like – and whether it makes sense for you.

Patrica Tabachuk Real Estate Blog • January 29, 2026

Top 2026 Housing Markets for Buyers and Sellers

by Patricia Tabachuk

Top 2026 Housing Markets for Buyers and Sellers

Who doesn’t love a top 10 list? Well, here are two top 10 lists for the housing market this year. But before you take a look, there’s something you should know.

If a move is on your radar for 2026, here’s the most important thing you need to understand upfront: there isn’t one housing market this year – there are many.

Experts agree 2026 is shaping up to be one of the most geographically split housing markets in years. Some areas are tilting in favor of sellers, while others are opening real doors for buyers. Who has the advantage depends almost entirely on where you are. Selma Hepp, Chief Economist at Cotality, puts it this way:

“Looking ahead to 2026, regional differences will remain pronounced, with demand favoring areas that offer both economic opportunity and relative affordability.”

To show just how divided the landscape is, here’s a look at where sellers are expected to have the upper hand, and where first-time buyers may finally find their opening this year.

Where Sellers Are Poised To Win Big in 2026

Zillow identified the following metros as some of the strongest seller markets for 2026, based on buyer demand, pricing momentum, and how quickly homes are expected to sell:

In markets like these, buyers are going to be competing for limited inventory, which gives sellers more leverage.

Homeowners in seller’s markets this year can expect:

Stronger buyer interest
Shorter time on market
Better odds of selling close to (or above) asking price

That doesn’t mean every listing is guaranteed success. But it does mean sellers who prepare well and lean on an agent’s expertise should be very happy with their results in 2026.

Markets Where There’s More Opportunity for First-Time Buyers

On the flip side, here’s a look at where buyers have the power – in particular, first-time buyers, since they’ve had the hardest time breaking into the market lately. Realtor.com highlights the top metros where first-time buyers are expected to have better opportunities in 2026:

These markets stand out for a mix of:

More affordable home prices
Better housing availability
Strong local amenities and economic health

For first-time buyers, that combination matters. It’s what could finally turn “someday” into “this could actually work.” In buyer’s markets, they should expect:

Less intense competition
More room to negotiate
A clearer path to getting an offer accepted

What Matters More Than Any Top 10 List

Not seeing your city on the list? Don’t stress. This is just a national snapshot, not a judgment on your local market. The goal here is just to show you how different the market really is depending on where you are.

And remember, you can buy or sell no matter how your local market leans. You just need an agent’s help to figure out the right strategy to get it done. For example:

A seller in a more buyer-friendly metro may need to be aggressive on their price and prep.
A buyer in a seller-leaning area may still need to come prepared with their best offer.

To find out where your market falls and what you should expect, you’ll want the help of a local expert.

Bottom Line

The housing market in 2026 isn’t one-size-fits-all. It’s a year where local conditions matter more than ever.

Whether your market leans more buyer-friendly or seller-friendly, the right strategy can put you in a strong position. And that’s where a local expert comes in. Let’s connect.

Market Updates • Patrica Tabachuk Real Estate Blog • January 29, 2026

You May Not Want To Skip Over That House That’s Been Sitting on the Market

by Patricia Tabachuk

You May Not Want To Skip Over That House That’s Been Sitting on the Market

When you see a house that’s been sitting on the market for a while, the reaction is almost automatic. You start thinking:

What’s wrong with it?
Why hasn’t anyone bought it yet?
Am I missing something?

That mindset made sense a few years ago. But in today’s market, you may actually miss out.

More Time on Market Isn’t Automatically a Concern Anymore

A few years ago, homes sold in just a matter of days. Sometimes, hours. Anything that lingered longer than that raised concerns. But that’s no longer the baseline.

Inventory has grown. Buyers have more choices. And homes are taking longer to sell across the board. Those are some of the reasons why the typical time it takes a home to sell has climbed this year:

And it’s not that 73 days is slow. That’s actually pretty normal for this time of year. It just feels slow because you heard so much about houses being snapped up in the buying frenzy a few years ago.

That shift alone explains a lot of what you’re seeing. It’s not necessarily that there’s anything wrong with the house itself. Although, let’s be honest, sometimes that is the case.

Most of the time today, a house that’s taking longer to sell simply means:

There are a lot of homes for sale in that area
The seller priced a little too high at first
The home didn’t photograph as well online
Buyers passed it over for flashier listings nearby
The timing just wasn’t right when it first hit the market

None of those are necessarily deal-breakers.

What Buyers Often Get Wrong About These Listings

Because even though you may assume a house that hasn’t sold must have hidden issues, the reality is, that’s not always the case. And, if the house does have issues, it’ll show up quickly in your inspection.

That’s information you can use to negotiate. Not a reason to walk away automatically. And in many cases, that’s where buyers find the best deals.

The key is knowing which homes that have been sitting for a while are worth a second look – and which ones aren’t. That’s why working with a local agent makes a real difference. They’ll be able to look at disclosures and more to help you uncover hidden gems other buyers may overlook.

Bottom Line

A home sitting on the market isn’t always a warning sign. Sometimes it’s an overlooked opportunity.

If you want help identifying which homes are worth a second look (and which ones to skip), let’s talk.

Buying • Market Updates • Patrica Tabachuk Real Estate Blog • January 29, 2026

Mortgage Rates Recently Hit a 3-Year Low. Here’s Why That’s Still a Big Deal.

by Patricia Tabachuk

Mortgage Rates Recently Hit a 3-Year Low. Here’s Why That’s Still a Big Deal.

If you’re one of the thousands of homebuyers waiting for rates to fall, you should know it’s already happening. And they recently crossed an important milestone. Rates officially dipped their toes into the 5s – something that hasn’t happened in about 3 years.

This moment marked a critical threshold. Now, rates are sitting in the low 6% territory. And expert forecasts project they’ll hover near this range throughout the year.

Here’s why that’s so good for you.

Why Current Rates Are Such a Big Deal

A mortgage rate doesn’t just affect the interest you end up paying on your home loan. It shapes your entire buying experience.

When rates were up around 7% just one year ago, a lot of buyers felt priced out. Payments were higher. Budgets felt tighter. Affordability was a bigger challenge. That’s especially true for first-time homebuyers, who felt the biggest pinch.

But according to industry experts, that’s starting to change now that rates are slowly inching down. Let’s break down why.

Right now, borrowing costs are in their lowest range in almost 3 years. And that can change the type of home you can afford.

At 6% or below, you’ll see:

Lower monthly payments. The payment on a $400k home loan is down over $300 compared to when rates were around 7%.
More buying power, thanks to the extra breathing room in your budget.

In other words, you can now make a stronger offer, purchase in a different location, or buy a home that checks more of your boxes. And that feels like a big shift compared to when rates were at 7%.

This Opens the Door for 550,000 Buyers

To drive home just how much this helps potential homebuyers like you, consider this research from the National Association of Realtors (NAR). It shows that when mortgage rates sit around this level, millions more households can afford a home. When rates are at 6% or below:

5.5 million more households can afford the median-priced home
And roughly 550,000 of those people will likely buy a home within 12 to 18 months

That’s not just speculation. That’s pent-up demand finally getting the green light they’ve been waiting for. You’ve got the chance right now to get ahead and buy before more people notice the game has just changed.

Because whether rates stay in the low 6s or dip back down into the upper 5s, the math is already working in your favor. And the difference from a low 6% to a high 5% isn’t as big as you may think. But the difference from 7% to 6%? That is very much a big deal, and it’s a number that’s already working in your favor.

An Important Call Out

Mortgage rates don’t operate in a vacuum. Home prices, local inventory, property taxes, home insurance, and your personal finances still matter.

And a rate in this territory doesn’t mean every home suddenly works for every buyer. That’s why getting pre-approvedand running your numbers with a trusted lender is key.

Still, this rate environment puts more buyers in play than we’ve seen in years. So, if buying didn’t work for you before, it’s worth taking another look.

Bottom Line

Mortgage rates dropping to a 3-year low isn’t just a headline.

For many buyers, where rates are now could be the difference between watching from the sidelines and finally getting the keys to their next home.

If you’ve been waiting for a sign to re-run your numbers and see what’s possible now, this is it.

Let’s take a look at what today’s rates mean for your budget and your options.