The market is changing, but there are plenty of opportunities.
Is the market finally starting to slow? Due to recent interest rate hikes, the answer is yes. However, this could be good news for both buyers and sellers.
For buyers, there are a lot of opportunities in today’s market. Homes are spending more time on the market, and there is less competition. If you’re considering buying a home, this is a great time to do it, even with the higher interest rates. You can secure a home now without having to pay significantly over the list price, and you can look at refinancing the loan when the interest rates go down.
“The market slowing down can be a positive for both buyers and sellers”
This is also an excellent time for sellers. Over the last couple of years, we’ve seen an appreciation of 34%, which means more equity in your home. Your property may not sell in a matter of hours anymore, but homes are still selling and getting great offers. Also, keep in mind that while prices are edging lower, we don’t expect this to be a long-term trend. It’s just a small correction in the market. Now is the right time to take advantage of that equity.
While the market is slowing, it’s really just normalizing after the crazy couple of years we’ve had. It is still a great time to either buy or sell a home. If you want to take advantage of the opportunity in the market, call or email us. We’ll talk over your plans and options to see what makes sense for you. We look forward to hearing from you.