Summer is here and you’ve really been looking forward to buying or selling a home! But is it a good idea with the shift we are seeing in the market? Let’s see what experts have to say about how the market looks and where it’’s going.
Hi, I’m Sherri Echols, Broker Associate with RE/MAX Bryan – College Station. I want to guide you toward the best decision for your family and what will likely your biggest asset, your home.
Looking at mortgage rates, Sam Khater, Chief Economist with Freddie Mac, says, “Mortgage rates continue to inch downward this week, but are still significantly higher than last year, affecting affordability and purchase demand. Heading into the summer, the potential homebuyer pool has shrunk and supply is on the rise and the housing
market is normalizing.”
After the way the market has looked the last couple of years, this is welcomed relief to lots of people. With less buyers and more sellers, there is hope for the buyers that are staying in the market and able to get a contract on a home more easily.
In addition to this, data from Freddie Mac suggests
that mortgage rates have hit a plateau (Slide 4) in the last 6 weeks, giving even more hope to buyers that fewer people will see themselves being priced out of the current market.
That’s where we are right now, keep coming back as we break down the market even further! I’m your Community Market Leader Sherri Echols, a helping hand for a happy home.
