With the onset of the spring market, rising mortgage rates, and fewer active listings compared to one year ago, buyer competition has intensified. 2022 is a seller’s market, but there is some hope for home buyers.
The Federal Reserve raised interest rates for the first time since 2018. Many experts believe that the Fed’s rate hike will help temper demand and lower prices – good news for weary home buyers.
New home construction has soared 22%. More new homes on the market could mean more opportunities for home buyers who have struggled with limited inventory.
As rates continue to climb, more home buyers are rushing into the housing market in hopes of locking in rates before they go even higher.
However you’re jumping into the housing market, I’m here to help. Contact me today so that we can formulate the perfect plan for you: (919) 291-5704
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