How has our market changed and where does it seem to be headed?
I know that you keep hearing about inflation rising and the Federal Reserve planning to raise interest rates to 4.5% by the end of the year. Are we heading into a new market?
“There’s no data to suggest that there’s going to be a market crash.”
The first point to consider is that markets are always shifting. My job is to help my clients know what to expect and execute based on that information. Currently, the market strongly favors sellers. However, it’s not the frenzy that it was last year. Buyers will start to see more opportunities to purchase homes and shouldn’t wait for prices to go down.
People are always asking me about when the market will crash like it’s inevitable. The numbers just don’t support that idea. I can’t predict the future, but there’s no data to suggest that there will be a market crash. Buyers should look at the current interest rates and prices to determine if buying now is affordable for them. The market is strong and will continue to be from what we can tell, so consider buying now if it’s the right time for you.
For sellers, there just isn’t as much frenzy or desperate buying anymore. Buyers will ignore an overpriced home, so we need to price your home correctly. I can make sure your home shows well and that it’s priced right, but I can’t control what an individual buyer might pay for it. I’ll do everything in my power to make sure that you get the best possible price.
If you have any questions, reach out to me by phone or email. I look forward to hearing from you.