Inventory is starting to rise, and, as a result, I believe that we’re beginning to enter a buyer’s market.
Even so, interest rates have also continued to climb. And as rates go up, affordability will drop. This is nothing to worry about, though. Our real estate market is cyclical. It runs, typically, on a seven-year rhythm. You can follow along in the video above starting at 1:07 to see an illustration of this cycle.
As you will see in that illustration, we have just passed the peak of this cycle. But don’t let this scare you. All this means is that current developments are perfectly normal. It also means that there is still time before we reach the bottom of the cycle.
We’re in a sweet spot right now, meaning buyers and sellers alike currently have the chance to take advantage of current conditions.
Our team would be happy to help you leverage our still-favorable market. Our goal this year is to help 200 people/families in the community either sell or buy a home, so please reach out if you’d like our guidance.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.