We’ve had a good week in the market with lots of big things happening. As we head into another Federal Reserve meeting, the question on everyone’s mind remains the same: are they going to lower rates or keep them? Who knows? But here’s what savvy buyers need to understand about this unique market opportunity.
Rate Reality
If you can get on board with the monthly payment at current rates, this is probably a good time to buy a house.
Here’s the strategic reasoning: if we see rates come down, we’re going to see inventory levels get gobbled up by pent-up demand that’s been sitting in the market for a while.
When that happens, we’re going to see home prices go up significantly.
Inventory Advantage
Right now we’ve got more homes listed than in the last 12 years – a remarkable shift that’s creating genuine opportunities for buyers.
That pent-up demand has been waiting on the sidelines, and as soon as we see relief in rates, mortgage applications are going to skyrocket.
This timing creates a narrow window of opportunity that won’t last.
Conclusion
The landscape of pricing is changing quickly, and there are real deals out there for those ready to act. Now is the time to make what some might call a “disrespectful” offer.
If you’ve been waiting to make an offer that you think might offend somebody – try it. Who cares? In today’s market dynamics, sellers are adjusting their expectations.
The bottom line is clear: if you’re shopping, make an offer. Rates continue to be the main driver of mortgage applications, inventory is at historic highs, and this buyers market represents the best opportunity we’ve seen in over a decade.
Don’t let this window close without taking action – contact me today to discuss your buying strategy.