The real estate market is still cranking along as we enter 2018. Here are three things you need to know if you’re considering buying or selling in the next couple of months.
- Inventory remains tight. This is great news for sellers because it means buyers are competing for the best properties. Homes that are properly priced and show well are moving quickly. For buyers, this means they need to present their best terms in order to be attractive to sellers.
- Interest rates are on the way up. This will mean demand from buyers could potentially increase even before we hit the “spring market.” Savvy buyers realize that higher interest rates actually result in less buying power, so they’re going to act faster to maximize their purchase potential.
- Prices are expected to rise. So for sellers who are moving up to their next home, selling now and being in position to buy quickly will save them on both the down payment needed, and monthly payment (see #2). Ditto for buyers who again want to get the best value for their price.
Questions? Call us today.
~Sarah & Neal
