You can buy more house with lower interest rates. According to Lawrence Yun, chief economist for the National Association of Realtors, “Mortgage rates have fallen in the recent past weeks, so I am very hopeful that the worst in home sales is probably coming to an end.”
We all know what the last couple of years have been like for the housing market – pretty much a roller coaster from high buyer demand, skyrocketing home prices, and multiple offers in 2020 and 2021.
Then a market shift in 2022, with a slower market and higher mortgage rates.
But the latest expert forecasts anticipate some improvements in the market for this year. Hi, I am Sherri Echols, Broker Associate with eXp Realty.
National market statistics show home price appreciation slowing, mortgage rates are coming down, and inflation is easing, which all makes home buying more affordable for you.
It’s important for us to know that experts are saying that we are not in a declining market, but a market of deceleration, meaning that homes are appreciating, but at a more normal rate.
All of these improvements are causing overall market activity to pick up. If you have been thinking about making a move this year, these improvements in the housing market could exactly be what you need.
Reach out to my team and I so we can strategize your next move.
I’m your community market leader Sherri Echols, a helping hand for a happy home.
