Real Estate Resolutions for the New Year: What Homeowners Are Rethinking
Mortgage rates averaged 6.55% as of the week of July 16, 2026, and the average homeowner with a mortgage now holds close to $295,000 in home equity. Whatever resolution brought you here, refinancing, finally listing, or just reassessing, understanding those two numbers is the fastest way to turn a vague goal into an actual plan for the year ahead.
Not sure if this is the year you move, or the year you finally fix what's bothering you about your current place? Both paths start with knowing what your home is worth right now.
Get a free home value estimate · Talk through your options with the team
January arrives with a quiet promise. It asks us to pause and think about how we live and what we actually want, and often that reflection starts at home.
While many resolutions circle around wellness or career goals, this is also the moment to consider the space that holds your daily routines. Below are seven real estate resolutions worth making this year, along with the numbers behind each one.
Metric | Current Figure |
|---|---|
30-year fixed mortgage rate | 6.55% (week ending July 16, 2026) |
Average homeowner equity (with a mortgage) | Approximately $295,000 |
Total tappable home equity nationwide | Approximately $11 trillion |
Average days on market, Chicago | 47 days |
Chicago metro median home price | Approximately $410,000, up 5.1% year over year |
Real Estate Resolutions Worth Making This Year
1. Get Honest About What Your Home Actually Needs
We often outgrow spaces long before we admit it. Maybe the kitchen no longer works for how you cook, the home office is a cramped corner, or the storage situation is one drawer away from chaos. Naming what genuinely does not work, rather than what you have simply gotten used to, is what makes the next decision, whether that's a renovation or a move, much clearer.
2. Stop Postponing the Repairs That Affect Resale Value
Most homeowners keep a running list of small fixes. Start with whichever change affects your daily life most, but keep in mind that deferred maintenance is also one of the most common reasons a home sits on the market longer than expected. If a sale is even a possibility this year, our guide on why homes fail to sell is worth reading now rather than after you list.
3. Learn Your Mortgage and Equity Options Without Fear
The 30-year fixed mortgage rate averaged 6.55% as of mid-July 2026, down from 6.75% a year earlier, and the average mortgage-holding homeowner nationwide now carries roughly $295,000 in home equity. Nationwide, homeowners are sitting on close to $11 trillion in tappable equity combined, most of it unused. This year, more homeowners are resolving to meet with a lender, explore refinancing, or simply learn their buying power and how their equity could work for them. None of that requires a decision today. It only requires accurate numbers.
4. Ask Whether Your Current Home Still Fits Your Life
Lives shift, routines shift, and preferences shift too. Ask directly whether your space still aligns with who you are now, not who you were when you bought it. If the answer feels uncertain, that uncertainty is itself useful information.
Weighing whether to sell, stay, or renovate? The KlopasStratton Team can walk through the actual numbers for your specific home and neighborhood. Contact the team or read why local expertise matters when the market shifts as often as this one has.
5. Recognize When It's Time to Let Go of a Space
Moving on from a home can feel emotional, but it can also feel like relief. In Chicago, homes are currently selling in about 47 days on average, which means a decision to sell this year does not have to mean a long, uncertain process. There is strength in recognizing when you need something different.
6. Prepare Early Instead of Rushing Later
The start of the year is the ideal moment to get ahead of the process, whether that means gathering mortgage documents, clearing a closet, or making a small repair. Homes that are staged and ready before they hit the market tend to move faster in a Chicago market where the typical listing is already selling in under seven weeks. Our staging guide is a good place to start.
7. Build a Home That Supports Your Well-Being
This resolution requires no moving truck. It simply asks how your current home could help you feel more peaceful, more inspired, more yourself, whether that's rearranging furniture for better flow, upgrading lighting, or finally building the reading corner or dining table you'll actually use.
A New Year, a New Understanding of Home
Whatever resolutions speak to you, home is allowed to evolve as you do. Whether you plan to move, refresh, simplify, or just explore your options, the KlopasStratton Team can help you start the year with grounded guidance rather than guesswork.
Frequently Asked Questions
Is now a good time to refinance or tap home equity?
The 30-year fixed mortgage rate averaged 6.55% as of mid-July 2026, down from 6.75% a year earlier, and homeowners nationwide hold close to $11 trillion in tappable equity combined. Whether refinancing or a home equity loan makes sense depends on your current rate and goals, which a lender can walk through based on your specific numbers.
How long does it take to sell a home once I decide?
Homes in Chicago are currently selling in about 47 days on average, according to recent Redfin data. Homes that are staged and free of deferred maintenance issues tend to sell faster than that average.
What should I do first if I am not sure whether to move?
Start with a current home value estimate and an honest list of what is and is not working in your space. Those two pieces of information turn a vague "maybe someday" into a decision you can actually act on.
About the KlopasStratton Team
Sophia Klopas and Jason Stratton are a brother-sister team with the KlopasStratton Team at Jameson Sotheby's International Realty, and have worked in the Illinois real estate market for more than 20 years. Learn more about the team.
