Churchill Mortgage recently wrote an article highlighting the national Real Estate trends to look out for this year. Your local trends may differ but it helps to take into account the following when planning your next big move:
- 10%-15% increase in Real Estate Inventory. This means more properties will be up for grabs.
- 2%-3% increase in home prices. Lower and slower increases than in the past, but increases nevertheless.
- Interest rates rising to about 5% for a 30-year fixed rate mortgage. Still pretty low, but higher than recent history.
Make sure to go into the market with eyes wide open. The real estate trends in your area may be different, but important considerations, nevertheless. Be well-informed and well protected. Get a free real estate consultation before taking the big leap. Contact us today.