RETURNING TO NORMAL THE

In the last few years, the real estate market has been unpredictable. 2020 saw the market flat line, then a slow build-up. 2021 was explosive growth which led into a volatile start to 2022. By the middle of the year, interest rates catapulted, and the market slowed greatly. However, experts are predicting more stability ahead!

The Future Looks Promising For Mortgage Rates

January recorded a four-month low, with the average 30-year fixed rate dropping to 6.15%. Rates are almost a full percentage point lower than the peak last October.

Rates Are Predicted To Fall In The First Quarter

Experts are predicting further mortgage rate decreases, with another potential 0.5% drop by the end of March. This is great news for both sellers and buyers!

House Flipping Is Dwindling

As the cost-to-benefit ratio dries up, house flipping is becoming less common. With the loss in profitability, more buyers have a better chance at their dream home.

Supply Is Still Historically Low

Demand is still outpacing supply, which indicates a healthy market. Buyers are still buying homes at a slightly slower pace.

FUTURE FRIENDS AND NEIGHBORS,

There’s plenty of opportunity to make a great profit in selling your home. If you’ve thought about selling this year, let’s do a comparative analysis to get the best response from the market. Call today to get started!

Real Estate Market Report