Frustrations easing?

By
Real Estate Agent with Atlanta Communities 303302

For 2 or 3 years the real estate market has been a frustrating one of buyers and their agents alike. Too few homes being chased by too many buyers. Perhaps the balance in the market is about to change.

Rising interest rates are likely to force some potential buyers out of the market, with them not being able to afford the mortgages required to purchase a home. With few Byers chasing the inventory on the market, homes will stay on the market longer. This may force sellers to rethink their pricing strategies. We are already seeing this in increased price reductions.

rWith fewer buyers looking and homes staying on the market longer, total home inventory will begin to rise. Buyers will have more choices and the pressure to raise home prices will lessen. 

My guess is that we will see better hope buying conditions towards the end of the year, but it will come at a cost of higher interest rates.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

Comments (3)

Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

So very true regarding the abuse in buying created by interest rates and overly zealous sellers.  It needs some brewing time, before it starts up again 

Jun 21, 2022 07:26 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Peter - I am thinking the same thing.  Better for buyers but higher interest.

Jun 21, 2022 09:55 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I like that things are getting a little easier for buyers these days but that doesn't mean that they should wait to pull the trigger when they find something they want to buy because they could still lose out.

Jun 22, 2022 06:39 AM