September 2022 National Market Update pt 2
Slower Sales And Rising Interest Rates…Oh No!!
Is the fact that home sales have slowed down, keeping you from selling your home? Not sure if rising interest rates will affect your home selling for top dollar? You may be in a better position to sell your home than you think. Let’s talk about what selling a home right now really looks like. While there may be a slow-down in the number of homes that are being sold, your home is likely worth far more than you bought it for.
More Expert Analysis
According to the National Association of Realtors, the median single-family existing-home price climbed 14.2% annually in the second quarter of 2022. We are still seeing an increase in the value of homes just like yours, and final sale prices are reflecting that. Sam Khater, Freddie Mac’s chief economist says, “Declines in purchase demand continue to diminish while supply remains fairly tight across most markets. The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.”
Don’t let the headlines get in the way of you selling your home, contact my team to find out what is really going on in the market so you can make the best decision for you and your family.