The Market Is Still Hot

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The days of soaring home values and bidding wars may not be through just yet. Although rising mortgage rates are expected to eventually alleviate demand, scarce housing inventory continues to pose a challenge for today’s homebuyers.

Despite signs of cooling demand amid rising mortgage rates, homes are continuing to sell for much more than what’s advertised on the listing. The hope is to get back to a place where supply and demand are back together and where inflation is low again.

For homeowners, homes are selling just as quickly as ever. Fifty percent of homes are still going under contract within two weeks. Great news for homeowners looking to sell.

Buying a home is likely the largest purchase you’ll make in your life, and you may end up living in your next house for a decade or more. Because homebuying is such a significant milestone, it’s important to have an experienced agent on your side. Whether you are buying or selling, I’m here to help. Contact me today: (919) 291-5704

 

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