01/08/2023
✨2023 started off rocky but hopeful. Interest rates have nearly doubled since last year, and low inventory has kept it a seller’s market. However, there are indications for a cool down, a “return to normalcy” in the market.
A key difference now compared to the last housing crisis is that many homeowners, and even those struggling to make payments, have had a large boost to their home values in recent years. That means they still have equity in their homes and are not underwater.
As interest rates rise, home prices will decrease, however, it will not be a drastic decrease in pricing. Buyers will have more breathing room when negotiating.
Instead of waiting for much lower prices, look for a home based on your budget and needs. If you find a home you love in an area you love, and it also fits your budget, then it may be the right home for you. However, if you make too many sacrifices just to get a house, you may end up with buyer’s remorse. Strategy is 🔑
💫Want to learn more about the buying or selling process? Let me help you find your dream home! Contact me and let’s get started today!
