"How's the housing market these days", you ask? It's a question almost as common as asking about the weather, and despite worries of an economic slowdown, consumer confidence remains high. This is reflected in the steady increase in sales price caused, in part, by the lack of supply, as well as attractive mortgage rates which are expected to last for some time.
Housing is one of the biggest contributors to gross domestic product (GDP) in the U.S. Being that GDP is considered the preeminent measure of economic health in a country by most analysts, it's not unfair to say that as the housing market goes, so goes the economy.
If you're looking to buy a home one thing you have in your favor as a buyer is that mortgage rates are currently near historic lows. If you're looking to sell your home, you might be excited by the fact that inventory is still generally pretty low —and low inventory has helped prices rise over the last several years.
Regardless of your goals as a home buyer or seller, it will pay off to stay up to date on how the economy is affecting the real estate market. You can count on me to stay one step ahead and give you the best information and experience needed for buying or selling a home.
So carve those pumpkins, hang those cobwebs, enjoy the fall season, and when you're ready for a change in your housing situation, don't hesitate to give me a call.