This market isn’t one-size-fits-all.
If you're wondering who has the upper hand where we live, let's talk. I'll show you exactly what the numbers look like in our market – and what strategy gives you the best shot at getting what you want.
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Inflation is still above where the Fed wants it, and that means mortgage rates are likely to stay elevated for a while. But for people who need to move, strategy matters far more than trying to perfectly time the market.
Wondering what this means for your specific situation? Reach out today. Let's cut through the noise together and make a plan that actually works for you.
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There’s a lot of uncertainty right now and that’s leading to some dramatic headlines. And if you’re thinking about buying a home, that can make you feel a little less sure about your decision. Online posts are going to make things sound worse than they are. If you want a true, data-bound look at what’s really happening in today’s market, lean on a real estate agent.
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For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them.
But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this fall.
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In a market where conditions vary this much from place to place, success starts with understanding every aspect of your local area. Let’s connect so you’ve got an expert in your corner who knows exactly how to guide you through your market, wherever you are.
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If you’ve been on the fence about your plans, now’s the time to get clarity. The market isn’t heading for a crash. It’s on track for steady, slow, long-term growth overall, with some regional ups and downs along the way.
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Maybe your current house fit your life five years ago. But that “for now” house you bought in 2020? It just can’t deliver on what you need in 2025. And that’s not just okay, it’s normal.
Mortgage rates are part of the equation, for sure. But the bigger question is:
What kind of home do you need to support the life you’re living now?
Let’s talk about what’s changed, and what kind of move would actually take your life forward.
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The market has changed, but your opportunity to sell hasn’t. You just need the right pricing plan. Let’s walk through what’s happening with prices in our area and determine what price would help your house sell quickly and for top dollar.
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So, a recession means rates could decline. And while that would help with your buying power, don’t expect the return of a 3% rate.
Bottom Line
The answer to the recession question is still unknown, but the odds have gone up. However, that doesn’t mean you have to worry about what it means for the housing market – or the value of your home. Historical data tells us what usually happens.
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Before you toss a for sale sign in your yard and expect to bring in the number you saw for your house online, you need to understand why these tools generally aren’t spot-on and why working with an expert real estate agent is the best way to get an accurate picture of what your house is really worth.
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The Fed meets again this week to decide the next step with the Federal Funds Rate. That's how much it costs banks to borrow from each other. Now, that’s not the same thing as setting mortgage rates, but mortgage rates can be influenced through this process. And if you’re thinking about buying or selling a home, you may be wondering about the downstream impact and when mortgage rates will come down.
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If you’re looking for ways to make your move happen as quickly as possible, partnering with a great local agent is the key. So, while homes might be on the market a little longer than before, they’re still selling faster than the norm. If you have the right agent and the right strategy in place, your house may even sell faster than you’d expect.
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Maybe you’re seeing this and wondering if you should ride the wave and see how low they’ll go. If that’s the case, here’s some important perspective. Remember, the record-low rates from the pandemic are a thing of the past. If you’re holding out hope to see a 3% mortgage rate again, you’re waiting for something experts agree won’t happen. As Greg McBride, Chief Financial Analyst at Bankrate, says:
“The hopes for lower interest rates need the reality check that 'lower' doesn't mean we're going back to 3% mortgage rates. . . the best we may be able to hope for over the next year is 5.5 to 6%.”
And with the decrease in recent weeks, you’ve got a big opportunity in front of you right now. It may be enough for you to want to jump back in.
The Relationship Between Rates and Demand
If you wait for mortgage rates to drop further, you might find yourself dealing with more competition as other buyers re-ignite their home searches too.
In the housing market, there’s generally a relationship between mortgage rates and buyer demand. Typically, the higher rates are, the lower buyer demand is. But when rates start to come down, things change. Buyers who were on the fence over higher rates will resume their searches. Here’s what that means for you. As a recent article from Bankrate says:
“If you’re ready to buy, now might be the time to strike. Home prices have been rising primarily because of a longstanding shortage of homes for sale. That’s unlikely to change, and if mortgage rates do fall below 6%, it’s possible buyers would enter the market en masse, further pushing up prices and resurrecting bidding wars.”
Bottom Line
If you’ve been waiting to make your move, the recent downward trend in mortgage rates may be enough to get you off the sidelines. Rates have hit their lowest point in months, and that gives you the opportunity to jump back in before all the other buyers do too.
If you’re ready and able to start the process, reach out and let’s get started.
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“There's never a one-size-fits-all answer to whether now is the right time to buy a home. . . . There's also no way to predict precisely what the market will do in the near future . . . Perfectly timing the market shouldn't be the goal. This decision should be determined by your personal needs, financial means and the time you have to find the right home.”
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Whether you're a first-time seller or you’ve been through this before, a great listing agent is the key to your success.
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