Blog

Author: Michelle Wood

  • Cities With Modern Luxury Homes Under $1M

    Cities With Modern Luxury Homes Under $1M

    One of the things I’ve always enjoyed about working with Biloxi buyers and investors is helping them discover the kind of value our region can offer compared to those big coastal metros. While cities on the coasts are known for luxury homes that are often older, smaller, and come with a hefty price tag, the Sun Belt and Midwest markets tell a different story. In these areas, you’ll often find newer, more spacious homes—many built between 2008 and 2013—falling into the top 10% of local listings, and still priced from $750,000 up to $1 million. As someone who has spent decades guiding families and investors to the right properties here, I see firsthand how the right location can combine modern comfort with smart value. It’s one of the reasons I love what I do in our community: helping you spot those hidden gems that truly feel like home.

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  • US Home Sales Remain Strong Despite Record-High Prices

    US Home Sales Remain Strong Despite Record-High Prices

    It’s no secret that the current real estate market is presenting new challenges for buyers and sellers alike. In July, U.S. existing home sales slipped by 1.7%, bringing the annual rate to 4.06 million. At the same time, the median sale price reached a record $434,100—a 2% increase—while mortgage rates climbed to 6.69%. With inventory still low at just 1.54 million homes, affordability remains a real hurdle for many families and investors.

    Having spent over two decades helping folks in Biloxi navigate their home journeys, I’ve seen firsthand how market shifts can affect every decision—from finding a welcoming front porch to growing an investment portfolio. My approach has always been grounded in genuine care and honest conversations, so if you’re weighing your options in this fast-changing market, know you’re not alone. This is where deep local experience matters most.

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  • Value of Household Real Estate Assets Approaches $50 Trillion

    Value of Household Real Estate Assets Approaches $50 Trillion

    It’s remarkable to see household real estate assets nearing the $50 trillion mark—Q2 numbers show we’ve reached $49.8T, a 2.3% increase from the previous quarter. Mortgages and home equity loans have also climbed to $14T, with owners’ equity now at 71.9%, or $35.8T. What stands out to me: the 50-90% wealth group holds $22.7T, while the top 0.1% owns $1.9T.

    After more than two decades helping Biloxi families and investors navigate these shifts, I know how personal these numbers really are. Whether you’re looking for a home to call your own or growing your investment portfolio, understanding your equity position matters. It’s not just a national headline—it’s the foundation for our local community, and for each of us building a future here.

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  • U.S. Sellers Outnumber Buyers by 57.9%

    This season, we’ve seen sellers truly outnumber buyers—with a 57.9% gap, the widest since 2013. Nationwide, there were 1.53 million sellers but just 972,300 buyers in mid-Q3. Listings jumped 3.9% from the previous month (the largest monthly surge in recent records), while buyer growth was only 0.1%. That means if you’re actively searching right now, you have more leverage than we’ve seen in years: three out of five homes sold below their original list price, and inventory has reached its highest point since 2020.

    But even as some of that mortgage lock-in pressure has eased—bringing more options to the market—affordability is still tight. Thirty-year mortgage rates are holding steady in the high-6% range, and the national median sale price is up 2.2% year over year. With existing-home sales down 2% (a 3.98 million annual pace), it’s a market in transition.

    Helping Biloxi residents and investors navigate moments like these is what I love most. After 23 years and more than 100 local listings, I know every shift brings its own opportunities. Whether you’re thinking about making a move or weighing the timing for an investment, I’m always here to share local insight and genuine care for your next step.

  • 4 Questions Shaping US Housing Affordability

    Housing affordability is on everyone’s mind these days, and it’s a topic I hear about often from families and investors here in Biloxi. Right now, we’re seeing signs of housing disinflation—buyers and sellers aren’t always on the same page, so sellers are offering more concessions than before. That can translate to real savings if you’re navigating the path to homeownership. However, borrowing costs remain the biggest challenge: with benchmark Treasury yields hovering near 5% and the average 30-year mortgage rate now above the low 7% range, monthly payments continue to climb. In the four weeks ending September 13, the median monthly mortgage payment hit about $2,600—a 3% increase over last year. This underscores how financing shapes affordability for many buyers.

    Meanwhile, resale inventory remains tight because so many owners are holding onto their low-rate loans, and sellers often hope for prices reminiscent of the pandemic boom. From my years guiding Biloxi residents through these ups and downs, I see the current market more as a correction toward stability than anything else. With strong equity and sound lending practices in place, there are still real opportunities for both buyers and sellers—especially with the right guidance and a little local know-how.

  • US Mortgage Costs Hit 14-Month High

    Mortgage costs have climbed to a 14-month high, with the typical US buyer now looking at a monthly payment of $2,600 by late Q3. While the national median home-sale price inched up about 2% year-over-year to nearly $399,000, many families are feeling the squeeze—affordability is a real challenge, and pending sales have held steady month over month but are still down from last year. I’m seeing this firsthand here in Biloxi: buyer interest is steady, but careful pricing is more important than ever. About 21% of sellers nationwide have made price cuts to attract attention, and it’s true—thoughtful pricing draws in serious buyers, while overpricing tends to create hesitation. Inventory has grown, too, with active supply up 2% to 1.5 million homes and close to four months of inventory—still a bit shy of a balanced market, but a step in the right direction. It’s a complex landscape, but with the right guidance and a clear strategy, you can still make smart moves whether you’re buying or selling. As someone who’s helped Biloxi families navigate every kind of market, I know that a little local insight can make all the difference.

  • This map shows the median home price by state

    This map shows the median home price by state

    Ever wonder how home prices stack up across the country? The latest numbers put the national median price for single-family homes at $408,475—with the highest prices found in Washington, D.C., and the most affordable in West Virginia at $248,848. These differences aren't just numbers—they reflect how local supply, demand, and millennial buyers are shaping each region. After 23 years helping Biloxi families and investors navigate the market, I've seen firsthand how smart budgeting and a little credit improvement can make a real difference when it comes to costs. Whether you're dreaming of your first home or weighing options for an investment, understanding these trends is the first step to making a move that truly fits your life.

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  • The 18 states back above pre-pandemic 2019 housing inventory levels

    The 18 states back above pre-pandemic 2019 housing inventory levels

    It’s interesting to see how the housing inventory landscape is shifting across the country. Nationally, inventory is up 3.8% from last year, but we're still sitting 7.7% below the levels we saw in 2019. Most states have only seen mild growth (and a few have even dipped), yet the Sun Belt and Mountain West are standing out with inventory that’s now near or just above their pre-pandemic numbers. Prices, for the most part, are holding steady.

    As someone who’s watched the Biloxi market evolve over the past 23 years, I always keep an eye on these national trends to help my clients—whether you’re hoping to invest, settle into your dream home, or navigate a sale. Every shift in inventory brings new considerations for buyers and sellers alike, and my goal is to help you approach each opportunity with confidence and clarity.

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  • Imagine a remodeled three bedroom home just three tenths of a mile from nearby schools near the base with a huge fenced yard ready for you to move in today

    Precious and remodeled 3 bedroom home in Bayou View, .3 of a mile from Bayou View schools. Great location for family's looking to have space and be close to Sea Bee Base. Perfect condition. HUGE fenced in yard. Bring your clothes and furniture and move in ASAP. Must qualify for lease. Call listing office for details.

  • Here are the wealthiest suburbs in America

    Here are the wealthiest suburbs in America

    It’s always fascinating to see how America’s wealthiest suburbs stack up. Eight out of the top ten, by average household income, are found in California, New York, and Texas—with Scarsdale, NY leading the list at an impressive $612,591. What ties these communities together? Waterfront views, top-notch schools, limited housing opportunities, and, of course, high home prices. After 23 years in the Biloxi market, I’m reminded just how much local character and amenities shape our neighborhoods, too. Whether you’re searching for a primary residence, an investment, or something commercial, these trends highlight what makes every community unique—and why the right guidance makes all the difference.

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