What Does the Rest of the Year Hold for the Housing Market?

If you’re considering buying or selling a house this year, you’re at an exciting decision. Anytime you make a big decision like that, you should consider timing. So, what does the rest of the year hold for the housing market?

The Number of Homes Available for Sale Is Likely To Grow

As a buyer, having more options is welcoming news. Remember, the housing supply is still low, so be ready to act fast and put in your best offer.

As a seller, your house may soon face more competition when other sellers list their homes. The good news is that if you’re also buying your next home, having more options should make that move-up process easier.

Mortgage Rates Will Likely Continue To Respond To Inflationary Pressures

As a buyer, work with trusted real estate professionals, including your lender, so you can learn how rising mortgage rate environments impact your purchasing power. If you’re ready, it may make sense to buy now before it costs more.

As a seller, rising mortgage rates are motivating some homeowners to make a move up sooner rather than later. If you’re planning to buy your next home, talk to a trusted real estate advisor to decide how to time your move.

Home Prices Are Projected To Continue To Climb

As a buyer, continued home price appreciation means it’ll cost you more to buy the longer you wait. It also gives you peace of mind that, once you buy a home, it will likely grow in value. That makes it historically a good investment and a strong hedge against inflation.

As a seller, price appreciation is excellent news for the value of your home. Again, lean on a professional to strike the right balance of the best conditions for selling your house and buying your next one.

Whether you’re a home buyer or seller, you need to know what’s happening in the housing market to make the most informed decision possible. Connect with an agent today to discuss your goals and what lies ahead, so you can pick your best time to make a move.