Eight Steps to Selling Eight Steps to Buying
When will it end?
You might be thinking I am referring to winter. Yes that too, but more importantly, I am referring to stagnant home prices. As a keen observer of real estate market trends for over thirty years, there has never been a more protracted period of time with little or no real estate price fluctuation. Since early 2012 we have seen home prices remain constant over much of Eastern Connecticut. That does not apply to everywhere but does apply to 90% of our region. The shoreline is showing a modest growth in home prices. This is also true for central and southwestern Connecticut. All the signs point to upward market price pressure as our inventories of homes for sale have fallen precipiticously.
Interest rates on home mortgages are slowly rising. Spurred by the Federal Reserves recent rate hikes, those unbelievably low 30 year mortgage rates have inched up a full percent and more. The current wisdom says this is just the beginning, the rates were in the 3-4% range, are now in the 4-5% area and maybe headed even higher.
Stable prices, declining inventories and rising interest rates means its time to get out there and buy something. The conductor is blowing his whistle, the train is leaving the station, the best buyer's market in our lives is becoming history. Find out today how you can still get on the train and own a home. Call any of our offices, talk to any of our agents. Its our job to help you.