With rising prices and fluctuating mortgage rates, many buyers and sellers are wondering: Is now the right time to make a move? According to industry experts, there are a few encouraging trends on the horizon!
1. Slight Relief in Mortgage Rates
While a big drop isn’t likely, forecasters expect a modest decline in mortgage rates as the economy stabilizes. Even a small dip can improve affordability and boost your buying power.
2. More Homes Coming to Market
Inventory is increasing as more homeowners decide they can’t wait forever for the “perfect” time. This trend is expected to continue, giving buyers more options and helping to balance the market.
3. Home Price Growth Slowing
Prices are still climbing, but at a slower pace. The average forecast shows a 2% increase for the year. Combined with more inventory and slightly lower rates, this could mean better opportunities for buyers in the months ahead.
Bottom Line
The market is shifting—and that could work in your favor. Whether you’re buying or selling, The Durham Team is here to help you take advantage of the changes!