This past spring and summer was a continuation of the frenzied sellers market our area has been experiencing for the past couple of years. This was great news for sellers but a lot of buyers were left frustrated and still searching for a home.
The market is experiencing a typical seasonal slowdown as fall and winter cool things off. This might be good news to those buyers that decided to hold off earlier in the year as we are seeing more price drops and homes on the market longer than in the summer. Don’t get me wrong, it is still a seller’s market but there is some breathing room for buyers now.
As an added bonus–mortgage rates dropped last week, so now it appears to be a great time to buy with lower home prices and lower interest rates. That is a great combination to come back out and look for houses again. If you know anyone looking to move, feel free to pass along our contact information.