Laura Carroll - Compass Real Estate

💥THIS IS NOT A SEXY HOUSE POST💥
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How could it make sense that rates are 7%+ yet the prices of home are up? ⁉️
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While this data point shows our hyperlocal Garden City Markets, it is a key metric for our regional markets as well 🌍
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✨Most homeowners are currently locked into their homes below 3% mortgage rates. Only those sellers who REALLY need to move - will.
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✨Transition of baby boomers who have cashed 💰in on their homes are flush and transferring their wealth to their children to help them buy their first homes. 🏡
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✨An entire generation of Millennials are looking to purchase their first home. They represent 21% of the population and are the largest generation in the US.
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🏡Constraints in inventory, and an influx of an entire generation looking to buy has kept our home prices 💵 HIGH! While there may be some buyers on the sidelines, when those rates drops, millions more buyers will enter the market.
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Want to learn more about our local markets and navigating ⛵️ the real estate market?
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Reach out!
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Laura Carroll
[email protected]
917-370-5355
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