Some Good News for Homeowners
Feeling overwhelmed with the increase in inflation? Are you curious if there is even a possibility to sell or buy with all that’s going on? I understand the overwhelm, but there is good news. We are seeing some changes in the market that may put you more at ease.
Let’s see what experts are talking about when it comes to inflation and the real estate market.
Lawrence Yun, the Chief Economist at the National Association of Realtors said, “If there is a sustained decline in gasoline prices and more production of apartments and single-family homes, consumer prices will pull back, encouraging the Federal Reserve policy to be less aggressive…Mortgage rates will fall.” But are we going to see that actually happen? Realtor Magazine reported a 7% monthly decline last month in gas prices, but a continued rise in rent costs, which indicates that there is likely still a very big housing shortage-which will keep housing prices strong.
Headlines can be scary, and while we can’t say for sure what the Fed will do with interest rates or how inflation will behave, we can help keep you up to date and informed on the Real Estate market to help you make the best decision for your family and your home.
Whether you want to sell your existing home, buy your first home, upsize, downsize, purchase a vacation home, or just talk about options, a real estate professional is your best source for information based on current trends in our area. If you're interested in learning more about the 2022 real estate forecast, don't hesitate to reach out - we're happy to help!