Real Estate Market is Fine

It seems everyone is talking about what’s next for the white hot market that has cooled to red-hot and opens the doors for buyers who will not have to compete for multiple offers well above list price. So now we can show our concerned “where do we go” sellers that they have options, Higher interest rates doesn’t really affect the market. It doesn’t mean prices will go down. Values are leveling out. There is no crash in sight, despite what the alarmist are claiming. Sellers should know that price reductions do not indicate compromising values. It means the market is adjusting. No longer will we see a 20% appreciation but a 3% appreciation. Remember closings are happening everyday. People still need a place to live.