The Economy of Real Estate

To say that these past few weeks have been an emotional roller coaster ride would be a huge understatement to say the least. With that said, I have had a front and center seat to what is happening in our local real estate market. First and foremost, the interest rates are extremely volatile right now, although all in all, they are still extremely attractive, although once this past week they did reach 7% only to come down to 6.875% the next day. The price adjustments some people have made are extremely exciting if you are looking to buy. The inventory and choices are incredible and most Sellers want to make a deal work. The market right now favors the Buyers. When was the last time that happened? A long, long time ago. So if you are trying to time this market, I would suggest getting on board soon, before a rise in interest rates eliminates any small savings you may see in pricing.