Buyers, where are you? Are you really thinking interest rates will come back down? They won’t! We have been at all-time historic lows for years. The economy has to raise them to adjust for inflation. Buyers do you think prices will come down? They probably will a little. I don’t think we will see a bubble burst, but we have seen all summer some air releasing from that bubble. Interest rates are having the desired effect in slowing home sales. The ½% increase is better than 5 % home price increases. Under $300,000 we are seeing some price reductions. Above $300,000, we will see some price corrections. Above $500,000 we may see 10% adjustments. Buyers did you notice inventory has increased. New listings and existing listings are up over 2000 homes. In March of this year, we were below 1000 homes. Buyers you have more choices than ever.

Buyers, it’s a great time to buy a home at the end of the summer. Sellers are anxious and you have plenty to pick from. Don’t wait for rates to come down because they won’t. Get in before they go up higher. Please give us a call so we can help you.