The Number of Homes Available for Sale Is Likely To Grow
There are early signs housing inventory is starting to grow. Experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com:
“The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue, . . . This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”
- As a buyer looking at homes for sale in McCandless PA, having more options is welcome news. Just remember, housing supply is still low. So, be ready to act fast and put in your best offer up front.
- As a seller, your house may soon face more competition when other sellers list their homes. But the good news is, if you’re also buying your next home, having more options to choose from should make that move-up process easier.
Mortgage Rates Will Likely Continue To Respond to Inflationary Pressures
Experts also agree inflation should continue to drive up mortgage rates.
- As a buyer looking at homes for sale in McCandless PA, work with trusted real estate agent. Include your lender so you can learn how rising mortgage rates impact your purchasing power. It may make sense to buy now before it costs more to do so.
- As a seller, rising mortgage rates are motivating some homeowners to make a move up sooner rather than later. If you’re planning to buy your next home, talk to a trusted Realtor to decide how to time your move.
Home Prices Are Projected To Continue To Climb
Home prices are expected to continue to increase. Why? There are still fewer homes for sale than there are buyers in the market.
- As a buyer, continued home price appreciation means it’ll cost you more to buy the longer you wait. But it also gives you peace of mind. Once you do buy a home, it will likely grow in value. That makes it historically a good investment and a strong hedge against inflation.
- As a seller, price appreciation is great news for the value of your home. Contact a member of the Diane McConaghy Team at REMAX Select Realty to strike the right balance of the best conditions possible for both selling your house and buying your next one.
Whether you’re a homebuyer or seller, you need to know what’s happening in the housing market. To make the most informed decision possible, contact a member of the Diane McConaghy Team at REMAX Select Realty. Let’s connect to discuss your goals and what lies ahead, so you can pick your best time to make a move.