Hey guys, hope all is well with everyone. Today we are going to talk about why home sales are down 20% year to date. Upon delving into this topic, we have identified that there are three main reasons. Let's start with the first one-
- Interest Rates- Majority of 2022 we actually had great mortgage rates. If you were fortunate enough to have let's say a 3% mortgage rate, it's understandable why it would be difficult to trade that for a 7% mortgage rate. What this does is put you into a "stall" type of pattern. Which is totally understandable. BUT, there are also ways around this depending on the lender you go with. If you'd like to know more about this topic and how to solve it feel free to message and I can give you information on products we offer such as a 2-1 buy down etc.
- Low Housing Inventory- If you already love your house, then it will make it tough for you to want something else, ESPECIALLY, if you can't find it. What I've learned through being in real estate is people only buy for 1 of 2 reasons. 1- it solves a problem. 2- they just fall in love with it. If you don't have a problem to solve or can't find something you just utterly fall in love with, it will definitely play a role in the "why buy now" process.
- Prices Seem too High- People typically tend to retreat on this due to a couple factors such as "if I hold out, maybe I can get a better price" or "maybe there will be a dip."
--MY SOLUTION: If any of these things are what's leading you to be hesitant, email us or give us a call. We are always here to provide the most accurate and up-to-date information to our clients. If ya'll have any questions, feel free to ask!
Anyone interested in an instant offer on their home, check this link ->