Check out this old video from Jo that carries true to any market! ⬆️

Current Market Activity 📊

Mortgage rates have bounced around between 6.5% to 7.5% since the start of January. We began February on the higher side of 7%, then saw a brief dip back down to 6.5%, (which sparked increased showings) and we’ve now seen slight rising over the last two weeks to near 7.5% again for 30 year fixed loans. Mortgage rates are volatile by nature, and usually do not move in a straight line. Rates bounce around because they’re impacted by things like economic conditions, decisions from the Federal Reserve, and so much more. That means they might be up one day and down the next depending on what’s going on in the economy and the world as a whole. As you might expect, bouncing rates can create an ebb and flow in in the real estate market, and though it might be nice if we could predict these numbers (like the lottery too!), no one can with 100% certainty. What we can do is to stay on top of the rate activity, all while educating our buyers throughout their home buying journey, of any effects of rate fluctuations on their purchase goals. Sellers too!

👀 Looking Ahead

As we mentioned last month, property price points have remained steady. Our team is setting aside some time to provide Property Valuations to those interested. There are many reasons to know the equity you might have in an owned property, and though there are online valuation tools, they may not be reliable. As your trusted real estate professionals, we know how important property valuation can be, whether you may be contemplating a sale, debating on investing in a property that suits your newest living needs, reinvesting in your current property, or pursuing your ambitions. Click Here to Request!

We expect that the pent up demand for properties will boost home sales through the year ahead. If you are contemplating a sale or purchase this year, please reach out to our team sooner rather than later. Strategy is important on both sides of the transaction and you will fare better the sooner we start to work together. 😉