Posts

Showing posts from May, 2022

The Shift

So much has changed over the past few months with mortgage rates and the market. We have rates that have spiked up pretty fast and a small slowdown from buyers AND sellers. However, in no way have we arrived to a normal market just yet; the seller's market is still in affect but things are changing. Realtors, lenders and all Real Estate professionals are starting to see these changes all over the country. What are these changes you ask? Many reports are showing the market is in for some kind a shift in the next few months or so. This shift is going to affect prices, supply, and demand. I want to focus on the point that a shift is not a crash. Many prospective buyers and sellers are waiting for that moment of a full crash when in reality, this is more of a shift for the better.... think of it as a "market correction".  Fannie Mae reported that both homebuilding and home sales are headed for a slowdown. Zillow economist, Jeff Tucker stated that the slowdown has already arr...