It’s a basic law of economics: Demand goes up. Supply goes down. Prices rise.
Nationally, that’s happening right now. With normal population increases and an improving economy, demand is growing, and supply is tight in many areas.
Additionally, despite analysts’ predictions, interest rates have held at relatively low levels. Low rates keep home payments more affordable.…
What might this mean for you?
• If you’re in the process of buying or selling, you’re probably in a good spot. Many sellers are seeing higher bids, and many buyers can afford to make them because of currently low rates.
• If you’re planning to stay in the home you now own, it’s likely your home value is growing. More equity and the possibility of refinancing at today’s rates create a comforting combination that’s tough to beat.
If you are looking to buy or sell real estate give me a call. I’m here to help.
Thank you Randy Drizwicki for this great article
All Western Mortgage