Have you ever heard the saying, "Don’t believe everything you hear"? This advice is especially relevant if you’re considering buying or selling a home in today’s housing market. With so much misinformation floating around, it’s more important than ever to rely on a trusted source for accurate information. As Dee McDonough, owner of S&D Real Estate, emphasizes, "In a market full of noise, having a knowledgeable agent by your side is key to making informed decisions."

Here are some of the most common housing market myths and the facts that debunk them:

Myth 1: I’ll Get a Better Deal Once Prices Crash

Many people believe that home prices are on the verge of crashing, but the reality is quite different. While home prices can vary by local market, the data shows that a crash is not on the horizon. Unlike in 2008, when there was an oversupply of homes leading to a dramatic price drop, today’s market faces an undersupply. This imbalance means that waiting for prices to crash is unlikely to result in the deal you’re hoping for.

Myth 2: I Won’t Be Able To Find Anything To Buy

The fear of not finding the right home to buy is understandable, but it’s also outdated. The inventory of homes for sale has been steadily increasing throughout the year. While the supply isn’t back to pre-pandemic levels, it’s certainly better than it was during the height of the market frenzy. With more options becoming available, finding a home that meets your needs is more achievable than you might think.

Myth 3: I Need a 20% Down Payment to Buy a Home

The idea that you need a 20% down payment to purchase a home is one of the most persistent myths out there. According to Fannie Mae, 90% of consumers overestimate or don’t know the minimum down payment required for a typical mortgage. In reality, first-time homebuyers are typically putting down just 6%. Depending on the type of loan you’re using, you might need as little as 3.5% or even 0% down. So, don’t let this myth keep you from pursuing homeownership.

An Agent’s Role in Fighting Misconceptions

If these myths have caused you to hesitate on your homebuying journey, it’s time to reach out to a trusted real estate agent. A knowledgeable agent, like those at S&D Real Estate, has the data and insights needed to guide you through the market and help you make decisions based on facts, not fear.

In today’s housing market, it’s easy to get caught up in the myths and misconceptions. If you have questions about what you’re hearing or reading, let’s connect. As Dee McDonough says, "You deserve to have someone you can trust to give you the facts and help you navigate the complexities of the market." 

For personalized guidance on the current market, reach out to us at S&D Real Estate, (863) 824-7169 or AgentCare@SandDRealEstate.com.

 If you need financing advice, our preferred lending partner, Kim Krueger (NMLS 22885983) at Prime Meridian Bank (NMLS 393620), is also available to assist you. Contact her at (863) 347-3493 or KKrueger@primemeridianbank.com. 

Whether you're looking to buy your first home, sell a property, or invest in real estate, our experienced team is committed to helping you make informed, strategic decisions. At S&D Real Estate, we understand that real estate transactions are major milestones, and we're here to turn your goals into reality with professionalism and care. 

Contact S&D Real Estate today to get the clarity and support you need to make your next move with confidence.