Published November 14, 2022
November 2022 Market Update
Find out about the latest happenings in our real estate market.
Believe it or not, there are still a lot of sales happening in this market. The Fed just raised interest rates by another 0.75%, but that hasn’t affected mortgage rates that much. We're still seeing rates in the mid-7% range here, but people still need to buy and sell. It’s surprising how much buyer demand there still is. Now is still a good time to buy or sell.
We're not quite getting the hype that we had before, but at the same time, sellers get a lot of money for their homes, and buyers can negotiate for things like closing costs. The market's become more neutral, but we're still in a seller's market.
Get ready for Thanksgiving, Christmas, and 2023; it should be wild. If you have any questions about our current market or where it’s headed, don’t hesitate to contact us by phone or email. We’d love to answer your questions.
