Some people are wondering why ANYONE would buy a house right now. Interest rates are nearly 7%. Are these people crazy?! Or are they smart?
Experts are predicting if rates fall even just 1% that nearly 5 million buyers will enter the marketplace. We already know what that means- more competition & less negotiating power. We are currently seeing many sellers covering buyer’s closing costs or rate buy downs. If millions of buyers enter the market, we will be seeing way less of this. There’s definitely some advantages to buying in this market.
Send this to a friend who is in the market to buy and be sure to follow me for more real estate insights.
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