July National Market Update #2
Have mortgage rates finally hit their peak? Will we see some sort of “normalacy” come back to the market? While no one can say for sure, we can look at what experts are saying about the market! We know the state of the market will play a big role in what you decide to do with your home. The first thing I want to point out is that with interest rates rising, it has many buyers concerned about entering the market.
But the market has also brought in a number of new agents, over 150,000 from 2020 to 2021 according to Homelight. These agents have not worked through markets that have seen higher interest rates. Many homeowners purchased at a time of interest rates over 12% .
We have seen a lot of different kinds of markets, including the 2008 crash. And we are constantly looking at expert advice, analyzing the market, and giving the best expert advice that we can to our clients to help navigate the market. Rates are no where near where they have been, and normal is an ever changing target, but we are always here to help you navigate any market we may face, just give us a call and we can tell you more about our market. We are here to help with your home buying and selling needs.
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