September 2022 National Market Update pt 1

Some Positive News

You haven’t given up on the housing market and the chance to make your big move, have you? After learning about recent reports, you may change your mind. Let’s take a look at what experts are saying about the market right now. If you’re like most people, Interest rate increases have been on your mind. Don’t panic, some experts think that we might be seeing that come to an end soon.

Expert Analysis of Current Market

Sam Khater, Freddie Mac’s chief economist, says (and I quote) “Although rates continue to fluctuate, recent data suggest that the housing market is stabilizing as it transitions from the surge of activity during [2020-2021] to a more balanced market,” and he quotes “Declines in purchase demand continue to diminish while supply remains fairly tight across most markets. The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.”

Lawrence Yun from the National Association of Realtors gives his insight on what he believes will be happening soon in regards to interest rates, saying that falling inflation in July may suggest mortgage rates are topping out.

So, if you are looking to buy, don’t miss out on the opportunities that are right in front of you. Reach out to my team to get started on the process today!