Mortgage and Real Estate update!
– Demand has rebounded slightly but the demand is still weak and falling
– Inventory is building above 2019 levels
– Rates will continue to rise (Don’t expect to Fed to pivot yet)
– Lending is going to get harder
– A recession is coming
– Home prices are going to continue to fall
Sellers are getting more and more frustrated as their homes linger on the market and get almost no showings. The realization that this market is a bear market and it will only get worse before the Fed can come in too late with low rates in the middle of a hard landing. If you are trying to sell your home there are ways to get attention and get offers. This is when you ask your agent to get proactive, come up with ideas to get traffic, and get your home sold before more price drops come and you are forced to do the same.
You need an agent that understands the market not just how to get a listing.