How Should You Begin Your Home Buying Search?

The Weekly Recap

Good morning and happy Friday! Consumer confidence is at its highest level in four years, tariffs were on again, off again…and then on again one more time this week, more economists are starting to believe that housing prices will fall between now and the end of the year nationally. In the Hamptons, demand for new construction AWAY from oceanfront lots are picking up steam and if its been your dream to live in the heart of Times Square one of the most recognized office buildings will get 1,250 apartments.

Hope everyone got to enjoy the short week this week!

How Should You Begin Your Home Buying Search?

Embarking on the journey to homeownership is one of the most exciting and rewarding decisions you can make, but it’s also one that requires careful planning, strategic thinking, and the right support team. Whether you’re a first-time buyer or returning to the market after years, the first and most crucial step is clarity. Understanding your financial position, defining your goals, and visualizing not just the home, but the lifestyle you want are all important to a successful start to the journey.

Where buyers agents really play an integral role in the beginning phases of the search is not just in educating you on the marketplace, but with their relationships with lenders, attorneys, inspectors, general contractors etc. It takes an entire team for a successful real estate transaction to take place and your agent is at the center of it.

If you’re financing you are going to want to get pre-approved, not just pre-qualified. A pre-approval gives you a firm understanding of what you can afford and positions you as a serious buyer in the eyes of sellers. A pre-qualification isn’t worth the paper its printed on. Any offer that is submitted with financing requires a pre-approval so the sooner you obtain it, the more likely you are to effectively compete against other buyers for the same home who are less prepared than you are.

From there, the market education process begins. Exploring different areas, attending open houses with your agent, and working to understand not just where you identify value but what is a need for a home versus a want is incredibly important as you expand your depth of insight into a dynamic and evolving marketplace.

Buying a home isn’t just about square footage, it’s about how the space supports your daily life and future aspirations. Surround yourself with experts who listen, educate, and advocate for your best interests at every turn. With the right guidance and preparation, your path to ownership becomes less stressful and more empowering.

If you’re curious on how you can achieve your real estate goals, do not hesitate to reach out to discuss further!

Market Performance

Here are how some other indexes and asset classes have performed as of this Mornings opening bell.

NYC Market Update

Here is a view of NYC market activity over the past month.

Mortgage Rate Update

Mortgage rates inched up this week but continue to be lower YoY. New listings to market are up 6% YoY while prices have remained flat, giving buyers more opportunity to pursue their homeownership goals. In a marketplace with stabilizing rates, it is always good to shop for the lowest rate possible between lenders.

News You Can Use

• US New Home Sales Jump to Highest Since 2022 as Prices Fall Bloomberg

• What a Fannie and Freddie IPO Would Mean for Homebuyers Bloomberg

• More Economists Think Home Prices Will Fall This Year Yahoo Finance

• Investors Snap Up Five-Year Treasuries in Show of Solid Demand Bloomberg

• Demand for New Construction Hamptons Homes Spike NY Post

• US Consumer Confidence Jumps Most in Four Years on Trade Truce Bloomberg

• Hamptons Buyers Are Skipping the Oceanfront and Wanting Serenity Further North NY Post

• Trump’s Global Tariffs Blocked by Trade Court Bloomberg

• Ambitious Gen Z Lead the Return to Office Movement CNBC

• Blackstone Buys $5 Billion in Private Equity Stakes from New York Pensions Bloomberg

• NYC Pension’s Private Equity Sale Might Be Largest Ever of Its Kind Axios

• NYC Transit Upgrade Hinges on $17 Billion of Uncertain Funds Bloomberg

• One of the Most Recognized Office Buildings in Times Square Will Soon House 1,250 Apartments NY Post

The Deep Insight

Contact Me

Feel free to reach out to discuss more in-depth about your real estate goals, share your thoughts about my newsletter, or to share what you're experiencing in this market. Looking forward to hearing from you!