1 – Buyers are still offering well over asking price in many situations. One recommendation is to look for homes under your price range so you can be ready to go above asking price.
2 – New home listings are down 25% from a year ago, according to data from June. Many homeowners with mortgages are choosing to stay in their homes since they have a locked-in interest rate under 6%.
3 – The interest rate has decreased slightly, but is still near it’s highest level in the last 20 years.
It might sound like the odds are stacked against you right now with buying a home, but it can absolutely still work out for you. We recommend working with an experienced agent that can help you find the perfect place to call home!