With recent political happenings, rising interest rates, and the decrease in buyer activity, many in our market are experiencing a little anxiety as a result of these developments.
Despite the fact that our market is slowing down, it hasn’t come to a halt. It’s still a good time to buy or sell. With that in mind, many are wondering who currently has the advantage.
Actually, though inventory is creeping up slowly, it is still nowhere near the levels we’ve seen in the past; we are still in a seller’s market. However, conditions will vary between price points. The market is still fairly active between the $600,000 and $800,000 price point, for example, while activity has slowed in higher-end markets.
Another major concern among those in our market is the direction of interest rates. With prices and interest rates both on the rise, the key to getting a great deal on your next home is to partner with an experienced, local mortgage professional.
The bottom line is this: If you’re a buyer, it’s always a good time to make a home purchase—and right now is no exception. And if you’re a seller, you can still earn a good price for your listing, even though it may not happen as quickly as in the recent past. People buy and sell real estate 12 months a year.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.