Is Now Still a Good Time to Sell?

Interest rates are on the rise and the market is shifting quickly! Buyers are leaving the market and sellers are coming into it. What does this mean about the value of your home?

The biggest thing I want everyone to hear is that experts are not saying that the market is going to be crashing, this is not 2008. Realtor.com says, and I quote “…Experts don’t believe the market is in a bubble or a crash is in the cards, like during The Great Recession. The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. That’s likely to keep prices high.”

The housing market, like any other market, is all about supply and demand. With the largest generation entering the housing market and creating a huge demand, and not enough homes available to keep supply up, we are still waiting for the market to even out, but we are not waiting for it to crash. The interest rate hikes have aided in the market normalizing, which may seem like doom and gloom, but if you compare it to how hard it was for the average buyer’s purchasing power to have the ability to even get into a home with all the competition, and paying way above the list price, it’s not as bad as the news makes it seem.