1. Homes available for sale are likely to grow.
BUYERS: You’ll have more options, just be ready to act fast and put in your best offer upfront. Houses are staying on the market longer but desirable homes are still going quick with low inventory.
2. Mortgage rates will continue to respond to inflation.
BUYERS: Find a trusted agent and reputable lender, so you’ll know exactly how rising rates will impact your purchasing power. Stay in contact with your lender and if interest rates rise before you lock in a property, it might be a good idea to get an update pre-approval.
3. Home prices are no longer soaring!
BUYERS: Good news! In some markets, home prices are beginning to stabilize or moderately grow compared to earlier this year. Competition is decreasing, especially as some leave the market due to interest rate rise.
If you’re diving into the market this summer or fall, We would love to help!