Don’t Let Rising Interest Rates Scare You from Buying in this Market
Have rising real estate prices and interest rates kept you from buying your dream home? With such a fast paced changing market, you may be uncertain about what the right move is for you and your family, especially with all the negative headlines flying around. Remember, negative headlines get more attention. So I want to clear some things up about where the market is at today.
Expert Analysis About the Current Market
Hi, I’m Eren Millam with Premiere Property Group, let’s see what experts have to say about the market. The National Association of Home Builders along with Wells Fargo Housing Opportunity Index, only 42.8% of the new and existing homes sold from April through June of 2022 were affordable for the average family income. A large drop from 56.9% of homes that sold in the first quarter of 2022.
Jerry Konter from the National Association of Home Builders talks about where this is coming from when he says “Rising housing costs stemming from increased interest rates, supply chain disruptions that have led to higher prices for building materials, and a persistent lack of construction workers are dramatically affecting home prices.”
With all of these factors, the National Association of Home Builders believes they will see a decline in the number of homes being built.
Will There Be More of a Downturn in the Market?
If you are waiting for a downturn in the market, many are saying that this is not going to be happening anytime soon. So the time to buy is now! And remember, when you own a home there is usually a lot of interest to write off which can save you money on your taxes. Be sure to talk to your accountant about that. Contact my team so we can get you on your way to buying your dream home! I’m Eren Millam and remember, Extraordinary Service delivers Extraordinary Results!
If you’re thinking of buying or selling your home in the west Lewis County area, contact me today! I’d love to hear from you! Eren Millam – Managing Broker Premiere Property Group, LLC WA License No. 26933
Chehalis, WA 98532 | Centralia, WA 98531 | Adna, WA | Napavine, WA | Onalaska, WA 98570 | Rochester, WA 98579 | Vader, WA 98593 | Winlock, WA 98596 | Boistfort, WA
Call/Text: (360) 219-3616 | Email: Eren@LewisCountyHomes.com
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