Here’s what you should know about our cooling housing market.
Many people want to know if the market is shifting. Google searches related to the phrase “housing market crash” have increased dramatically. What is happening in our market?
Indeed, the market has moved, and demand has stabilized—we are now heading toward a normal market that favors buyers. This was partly due to mortgage and inflation rates softening in July. Homes are no longer getting multiple offers, and bidding wars are less common. Also, home prices have been decreasing since November last year.
The market is cooling, and this is great news for both buyers and sellers. If you want to learn more about this topic or have any real estate questions, call or email me. I’m here to help!