5% interest rate -- Has that impacted the DMV housing market? Let's answer that question in this week's Real Estate Market Update!
Well I did see a teeny tiny pullback this past week in the housing market. There were Realtors I had spoken with had listings on the market. They didn't end up getting getting multiple offers as they were expecting. So what's going on in the market?
Just a quick disclaimer: what I'm about to say is limited to the spring breaks across the DC Metro region. We are seeing different schools, different spring break in next couple of weeks. Our buyers are just taking a break with the beautiful weather. So I don't think it's directly impacting because of the 5% interest rate.
If you're a home buyer, this may be an opportunity market rather than sitting on the fence. While we are still short on inventory, there aren't much offers coming in so it's a good time to submit that offer!
And with regards to my sellers, I've been talking about you guys please since January. I've been telling to be on the market now than later because with the Feds already talking about raising the interest rate it is going to impact by the end of the year market.
Do you have any further questions with the market's current situation? Let's talk about that! Call me at 703-625-4949 or visit my website at www.RituDesai.com for more!
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