If you are thinking about a move, downsizing, relocating and have been searching for a home, you are probably thinking "where are all the homes for sale" isn't this time of year that we would see them? The answer to the later is yes! May is typically the busiest month in real estate. However with over 80% of homeowners refinancing to the low rates over the last couple of years, homeowners are in no hurry to make a move into a higher rate. Is this you? But life happens and buyer demand is pretty strong in most price points. One reason... is the equity position homeowners have. Just released over 67% of homeowners homes are either paid off or they have less than 50% remaining on their mortgage. That means there is a ton of equity in the market! In addition, buyers have come to terms with interest rates. They understand they can refinance later. As we do anticipate home prices to sky rocket due to this inventory issue not being resolved and rates will come down. He
Comments