Are Interest Rates going up?
This is always a question will the feds be increasing the rate? Last year the 30-year mtg rate went above 4% it is predicted that the rate will reach 5% by the end of 2018. How will this affect a buyer's monthly payment?
Prices have been climbing for the past two years.
Prices have been climbing at a steady rate for the last two years.Of course, this depends on location. In Florida, new construction in the right price range is moving at a steady pace. Home prices are expected to increase in 2018 just at a slower pace.
Inventory Levels are expected to increase.
Inventory levels have been low for the past year and are expected to increase in 2018 which will turn the market to a buyers market. Many of our buyers have bid over list price for properties and have not gotten the offer accepted due to the fierce competition and lack of inventory. As always the market changes and the buyer will welcome this change and opportunity.
This content created by Barbara VanderMeulen Lead Buyer Specialist
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