What’s the latest news from our real estate market?
As we make our way through fall, interest rates are at a three-year low. As you may remember, in November 2018, they reached an eight-year high, so they’ve been dropping considerably these past several months. This is great news for buyers, and many of them are taking advantage of their newfound buying power by selling and moving up into a bigger home. At the moment, it’s possible to keep the same mortgage payment while buying a home that’s 20% more expensive than you previously would’ve been able to afford.
In short, it’s a great time to move up. Many people assume the fourth quarter is a bad time to put a home on the market, but that’s not true—it’s an ideal time to list your home, specifically because of that assumption. If you list now, you won’t have to face much competition from other sellers, and the buyers who are out and about are more serious about buying.
Additionally, many people think the market has slowed down, but it actually hasn’t. The number of home showings did slow down for a time due to Hurricane Dorian, but our team is actually selling more homes than we were last year. Those homes are also averaging a higher sales price.
Lastly, the holiday season is here, which means our annual Thanksgiving pie giveaway is happening once again. This is our way of thanking you for helping our team get to where we are, so don’t forget to RSVP for your free pie at DavesEvents.org.
If you have any questions about these topics or you have any other real estate needs I can take care of, don’t hesitate to reach out to me. I’d love to help you.