Market Update:

 Between April 1971 and April 2024, 30-year fixed-rate mortgages averaged 7.74%. 

As you can see, Mortgage Interest rates are still historically Low at about 7%.

Key Points:

Home Inventory is down, demand is still good = Home prices rise.

Once Home inventory rises, there will be more for Buyers to choose from. Prices, then, usually start to fall.

If inflation causes interest rates to rise, then more buyers will not qualify for a loan.

This will decrease demand and home prices may fall.

When is:

The Best time to Buy a Home:  When you are Ready both Financially and Mentally.                                                                                        

The Best time to Sell a Home:  When you need to Sell or when you want another type of Home.

We would be glad to discuss this with you anytime.