Get REAL with The Main Street Team

 National headlines say prices are up in half the country and down in the other half. Here’s how the housing market in  Philadelphia  compares, with local stats every buyer and seller should know. If you’ve read the latest housing headlines, you’ve probably seen some conflicting takes. And when you zoom out, it makes sense as to why: A  new Zillow report  found that, in half of the country’s largest metros,  home values  rose over the past year. In the other half, they fell.  So today, we’re breaking down what’s happening nationally, and more importantly, how it compares to what we’re seeing here in   Philadelphia . National Market Trends At the national level, home values have barely moved, rising just 0.2% over the past year.  Home values rose  in 25 major markets, mostly in the Midwest and Northeast. Cleveland (+4.7%) and Hartford (+4.5%) led the pack. Home values   fell  in 25 markets, especially in the South and West....

Searches for “homes for sale” just hit a two-year high, and mortgage rates dipped to a new low for 2025. Discover what this buyer momentum means for your home sale. If you’ve been wondering whether buyers are still out there, here’s your answer: yes.  And they’re looking more online than they have in two years. Even before last week’s big mortgage rate news (ICYMI, rates dipped to 6.55% on August 7), online searches for  “homes for sale”  were climbing fast in July. That means plenty of people were already getting serious about finding their next home. The kicker? After that dip, mortgage applications jumped. And now, rates just dropped again. On August 13, they hit a new low of 2025, decreasing to  6.53%,  according to Mortgage News Daily.  Translation: buyer motivation isn’t just alive… it’s picking up speed. Google Search Trends Google Trends tracks the popularity of specific search phrases over time. And two big ones,  “homes for sale”  and...

In 2025, fixer-uppers may cost more than new construction. Here’s what buyers need to know before choosing an older home that needs work For the first time in years, existing homes (yes, the older ones that often need updates) are selling for  more  than brand-new construction.  According to the  latest numbers , the median price of an existing home is $429,400. For a newly built home ? $410,800. That’s an $18,600 difference. So if you’ve been eyeing a resale home thinking it’s the “cheaper” option, you might want to check out all your options. Let’s break down what’s going on, why it matters, and what it means if you’re thinking about buying a home. The Numbers Say It All It used to be that brand- new homes were priced way above resales. From 2010 to 2019, the gap between new and existing homes averaged about $66,000. Over the past five years, that gap narrowed to around $25,000 on average. Things first flipped in Q2 and Q3 of 2024, when the median price of exis...

If you’re thinking about downsizing, this guide walks you through the emotional, financial, and practical steps to cash in on your equity and sell your home for top dollar. If you’ve owned your home for more than a few years, chances are you’re sitting on a significant amount of equity, and possibly wondering if now’s the time to downsize. According to a recent  Realtor.com   analysis , baby boomers—those born between 1946 and 1964—own an estimated $18 to $19 trillion worth of real estate. That’s nearly half of the housing wealth in the U.S. Whether your kids are out of the house, you're retiring, or just want less maintenance, selling your longtime home can unlock major financial and lifestyle opportunities. But it also comes with questions: Where will you go next? How do you maximize your return? What steps should you take before listing? Here’s a complete guide to help you move forward with clarity, confidence, and a plan that preserves your wealth. Step 1: Understand Your ...