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Here’s what I’ve noticed in the market this week:
With rates dipping below 6%, I’m having more conversations with buyers who have been sitting on the sidelines. Many of them are starting to re-engage and explore their options.
At the same time, I’ve spoken with several past clients who purchased a few years ago and would consider selling but they’re holding onto historically low interest rates on their current homes. For now, they’re waiting to see if rates continue to come down before making a move.
One thing I keep reminding both buyers and sellers: if rates drop, the market doesn’t magically become “easier.” If rates were to fall to 4% overnight (very unlikely), we’d likely see a frenzy....increased demand, multiple offers, and upward pressure on prices. In many cases, buying would actually become more competitive.
The moral of the story? There’s opportunity in every market but it requires strategy. This is where preparation, positioning, and working with an experienced agent truly matter.
If you’re thinking about buying or selling this year, now is the time to start building a plan!