Let’s talk about real estate!
The real estate market in 2022 was an unprecedented year. The first half of the year was roaring, maybe the busiest it’s ever been in recorded history. Then the second half happened. That was said to be the 2nd biggest slow down we have ever seen.Int erest rates more than doubled from 2.8% to 7%+. The market essentially froze for a lot of houses. It does look like we are now finding a bottom.
Now that we are well into January the spring market has started to heat up. Inventory is low again and people looking to buy a home are starting to outnumber the people looking to sell a home. This is good news for home sellers once again.
With a new year comes a sense of renewal and a new market. What does this mean for buyers and sellers? For buyers there are a few more homes on the market and interest rates have come down some from their peak last fall. For sellers with an increased number of showings we are seeing multiple offers come back on certain properties. It’s becoming more of a stable market and that’s ok.
If you are considering selling your house. I would do that while the inventory remains relatively low.
Cheers,
Travis & Team.
