As we come into the last days of summer, it’s that back to the regular schedule for many. Kids are back in school. Summer vacation travel comes to an end. You can start to smell the change of season in the air.
We are also at the end of about 1 year since the shift in interest rates started to impact home sales. As we have run through a hectic summer of a shifting real estate market, we naturally look for indications things will return to normal. However, as much as humans are creatures of habit, accepting that life is full of continual change can also be our super power.
Inventory is low, so we assume that high demand will continue to drive up prices. But appreciation has slowed down from the rate of the last few years. Interest rates have homeowners carefully deciding on a house move because it means a significant change in monthly payment. Buyers carefully consider the condition of a home against a purchase price because increases in cost of living mean less cash on hand to invest in home improvements. Real estate experts attempting to predict trends have to settle on the fact that the market still lacks obvious direction.
It’s important to be smart about a housing sale or purchase. And, as Albert Einstein said, “The measure of intelligence is the ability to change.” So, at Alta Homes, we are watching the market closely and keeping our skills broad and prepared. As the market changes, we are here to help you make smart moves.
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