We’ve all been waiting and wondering what will happen to the real estate market over the next few months. With interest rates still high, compared to pandemic-era rates, will home prices begin to come down?
The answer is complicated. Realtor.com asked 6 economists whether or not they predict that home prices will drop, and if so, when. Overall, the prediction is that we will see a slight drop, but nothing drastic. In addition, home buying demand is drying up as many aspiring homeowners have decided purchasing a home is simply unaffordable.
However, it’s important to note that these are nationwide, general predictions.
My anecdotal take on what’s happening in the local Seacoast NH real estate market is that home prices remain strong. In addition, the homebuyers I am working with are either relocating, downsizing, or navigating through some other life experience that prompts them to buy or sell their homes.
In conclusion, it’s important to stay informed about both national and local market trends to make well-informed real estate decisions.
If you have been hesitant to make a real estate move because of what you’re hearing in the nationwide headlines, I hope you’ll give me a call so that I can share with you what’s going on locally.
Get in touch! I’d love to hear from you.
Click here to read the full article on realtor.com.