With Rising Rates, THIS is the Time to Sell!!
If you are a home owner considering selling....Get off the fence!
This is the time to list your home❌….the housing market is going to change… This week interest rates finally hit 5% which is the first time this has happened since 2011. We still have 5 more hikes expected in 2022!
According to industry experts, there are 2 things that are going to change the seller/buyer equilibrium back toward buyers this year.
✅Rising Interest Rates
✅Soaring Home Values
What do these conditions have in common?
They both reduce home affordability. A decrease in the home affordability means:
⬇️Reduced Demand for Homes
⬇️Price in Homes
The Mortgage Bankers Association predicts that conventional mortgage rates will continue to rise incrementally through the end of 2022. In addition, industry experts believe prices will continue to rise in 2022. Though opinions differ on the rate of increase, they all agree on one thing: 2023 will spell the END of this crazy market that sellers have been enjoying for 2+ years.
Experts only expect “this market” to continue through the spring market into summer.