Well, if you’re a seller of real estate, you’re in an incredible position. Home prices keep climbing due to low inventory and buyer demand. Even though interest rates are higher, Buyers want in on the market and continue to pay over the asking price if they find a home they love.
That being said, buyers are a bit more selective these days due to higher prices and higher interest rates. Although, tight inventory is forcing buyers to either trim down their “want list” or wait it out.
“From what I’ve seen, buyers want in on the real estate market and they are going for it despite prices and interest rates and are planning to refinance. I am also seeing many buyers getting help from family for their purchases which is so wonderful to see family coming together to help in these home purchases,” said Yvonne.
At the end of the day, it’s hard to find a home that you can connect with and love so if you do find it, you go for it most of the time, especially if you’ve been looking for a while. We completely understand this decision making process and know that it can take years to find a match and refinancing is a great plan if you happen to find something in the current market. In positive news for the market, recently on September 20, the federal reserve made the decision not to increase interest rates which was a welcome relief for homebuyers.