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Dear Friends,
What’s next for the real estate market. — Now that interest rates have risen, our financial markets have been on a roller coaster and we have been seeing a couple of years of market frenzy all over the country with increases in every price range for rentals as well as sales ???
Will the robust seller’s market continue ? Will eager buyers suddenly become more skittish and begin to pull back across the board and wait til “things calm down ?”
This graph shows the market progression since 2003 in our county, and below is the link for monthly stats by most towns I cover.
With recently shifting demographics (i.e., milennials upsizing and moving in to our communities, and not as many boomers downsizing and moving out) we are not expecting a downturn, but rather this level of pricing as our “new normal” in a more stable market.
We still don’t have that crystal ball we always talk about, who knows what global events (pandemics, wars, natural disasters…) are in store, but we do know a lot of people out there need/want to buy a home while interest rates are still at historic lows.
What are your thoughts ? Always love to hear !
Best regards,
Joni
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