Not only does March hold the promise of warmer weather but also a softening to the housing market. Don’t expect a buyer’s market yet – just more supply, less frenzy and slower price growth.
The increased supply will be generated from new housing construction and the end of mortgage forbearance, a situation that will cause some homeowners to sell. With more housing inventory hitting the market, the intense multiple offers should start to ease; and while home prices may continue to rise, it should be at a slower pace.
With interest rates expected to increase further, we may eventually begin to see a decrease in demand as home buyers scramble to lock in before rates rise.
If you are ready to make a move and take advantage of this market, reach out today so that we can formulate a strategy that fits your needs: (919) 291-5704
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