“Two dynamics are keeping existing-home inventory historically low – rate locked existing homeowners and the fear of not finding something to buy.” Mark Fleming, Chief Economist at First American.
The housing market is facing some challenges, but there’s no need to be discouraged. The biggest issue right now is the low inventory of homes for sale, which is due to homeowners locking in low interest rates through refinancing and the fear of not finding their next home. However, the good news is that inventory has doubled in the past year, and interest rates are projected to go down.
If you’re thinking of buying a home, now is a great time to start your search. Take advantage of the increased inventory compared to last year, and consider expanding your search to neighborhoods you hadn’t thought of before. Programs for buying down the rate on your loan are also available, which could help you save money in the long run.
And if you’re considering selling your home, let’s work together to create a plan that meets your goals and helps you achieve your highest equity that you will see for the next 5 years. We can strategize on the best time frame for your transition and ensure that you’re moving on to your next destination with one move.
In A Nutshell . . .
the housing market may have its challenges, but there are still plenty of opportunities available for you to find your home in the best location for you now. Don’t miss out on the chance to make a move that will benefit you in the long run. Let’s connect and figure out the best next steps for you without any regrets. Call, text, or reply to make a time to look at the pieces to your puzzle and determine the best next step without regrets.