The actual data shows that we have a healthy and improving market.
We’ve all heard the news and the media about how horrible everything is, but my advice would be: don’t watch the news. Bad news sells, and that’s all you’re going to hear. Take a look at the actual data; we are seeing a completely different story than what you hear on the news.
First, know that home sales slowed down. When inflation took off and interest rates went up, there was a slowdown in sales. However, according to Redfin, there are many signs that the number of sales will take off again. Rates are still at a historic low and are trending down. Plus, people have gotten more used to the new norm.
Ultimately we’d all like to time the market perfectly when we buy and sell, but sometimes you need to buy and sell because life happens. Therefore, people are coming back into the market. Google searches for home sales have been up 50% since November. Therefore, soon people will start looking more in person—Redfin reports that the in-person part of the process is increasing rapidly. After that step, people apply for mortgages. That will increase, then so will the number of transactions.
If you took November and December off because of rising rates and inflation, now is the time to get back into the market. Find your home before prices take off again this spring. If you are curious about the market, call us anytime. We’d be happy to help you with all of your real estate needs!
