Wednesday, November 9, 2022 / by Ira Miskin
That’s a 42% decline. Simply put, homes cost 16.8% more in June than January, but only 7.6% more in October than January.
What does that jumble of numbers mean? The market is cooling off. Home sellers may feel disappointed but should feel delighted. Why? Because the enormous press of the instant explosion of interest rates forced on buyers, pushing many out of the market, coupled with the steep increases in sale prices, could be returning balance to the home marketplace.
Realistic expectations from sellers linked with lender programs for buyers helping defray high monthly payments due to the rapid rise in interest rates will go far in returning confidence to the housing market.
For individuals and families as well as investors, owning residential real estate long term will remain a stalwart ally in the pursuit of investment value.
Are you thinking about selling a home that has greatly appreciated, using the equity to move up to a larger home or downsize to a more convenient home? To be successful you need a plan. Knowing what your buying power and selling leverage is will add the critical detail you need when deciding when and how you can sell and buy in the most financially beneficial way.
To learn more about your selling leverage and buying power, CALL or TEXT Your Home Sold Guaranteed Realty-The Miskin Team at 770-672-7832. Ask for a FREE NO OBLIGATION Home Selling Price and Home Buying-power Analysis.
We take the stress out of Selling: Your Home Sold Guaranteed Or We’ll Buy It!* We take the uncertainty out of Buying: Buy A Home With Us, If Your Not satisfied, We’ll Buy It Back or Sell It For Free!* Our guarantees to you.
So, to learn more, CALL or TEXT Your Home Sold Guaranteed Realty-The Miskin Team at 770-672-7832 and Start Packing!!
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