The real estate market is volatile. There are still houses going above list price, but this is not the norm. Time to adjust as a seller!
Here are the local stats for May ... but keep in mind ... there are 1318 sales pending, with 1360 closing in May. Buyer demand remains strong, consumer behavior shows buyers are still buying as evidenced by the number of pending contracts.
This creates a steady market even with low inventory!
Even with the rise in interest rates, here is our advise:
Marry the house; date the rate."Marry the house; date the rate."
What does this mean?
It means buy the house you want. But committing to the house doesn't mean you have to commit to the financing available now forever. Smart homeowners always look for a better financing opportunity, and make the move when the time is right. You can always change your financing to more favorable terms later, should better rates and products become available. And if rates only get worse, then you'll be glad you married the house when you did.
