Have you heard the news?
Interest rates ... while still incredibly low ... have started to tick up just a bit.
So what does that mean for buyers?
It would take a roughly 10% drop in home values (highly unlikely to happen anytime soon when values are increasing steadily 2-3% or more per sale) to off set a 1% rise in interest rate.
This is notable for both buyers and sellers.
Higher interest rates means less purchasing power for buyers, which can lead to value adjustments for sellers.
Thinking about buying or selling this year? Call or text 571.259.3009 now to talk through the current market and your options!