Carrie Warren Real Estate Agent

Three Critical Questions To Consider Before Your Home Purchase

In the dynamic world of real estate, conflicting housing headlines are par for the course. With the consensus among economists pointing towards a likely drop in rates in the coming year, it might be tempting to postpone your home purchase. However, understanding three key aspects of your market could guide you toward making the right decision now.

What is the current number of homes for sale?
Nationwide, the available homes for sale amount to less than half of what we had pre-Covid. The equation is simple: fewer homes translate to heightened competition.

What is the price trend?
A staggering 80% of housing markets are witnessing month-over-month price increases.

How high is buyer demand?
A useful barometer of demand is the number of homes that immediately go under contract and the traffic at open houses.

A market characterized by low inventory, rising prices, and soaring buyer demand will only become more competitive with dropping rates. More prospective buyers invariably lead to escalating prices. It may just be an opportune moment to start building equity.

Happy House Hunting!