Oct. 25, 2018

Layne and Rachel Harrison

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FALL MARKET UPDATE

 
  • IT IS STILL A SELLER'S MARKET, BUT THE MARKET IS CHANGING

  • SOME PROPERTIES ARE TAKING LONGER TO SELL

  • GENERALLY SPEAKING, PROPERTIES ARE SELLING FOR APPROXIMATELY 2-3% LESS THAN MONTHS AGO

  • THE 30 YEAR MORTGAGE INTEREST RATE HAS HIT AN 8 YEAR HIGH OF 5%

  • EVEN THOUGH INTEREST RATES ARE INCREASING, THEY ARE STILL CONSIDERED RELATIVELY LOW HISTORICALLY

  • HIGHER INTEREST RATES EQUALS LESS AFFORDABILITY FOR BUYERS

  • THE NUMBER OF HOMES FOR SALE IS INCREASING GIVING BUYERS MORE OPTIONS

  • THE GOOD NEWS FOR SELLERS IS THAT PRICES ARE STILL AT RECORD HIGHS

  • NOW MORE THAN EVER WHEN BUYING OR SELLING A HOME, YOU NEED EXPERIENCED REALTORS LIKE US TO REPRESENT YOU