Stats for January 2023

Happy Valentine's Day! One of the things I love about real estate is stats. So far this year, the real estate market continues on in a low inventory cycle. Because of this, we are still seeing multiple offers on certain homes that are well priced and show impeccably well. This is not yet happening across the board, however, and there is great opportunity for buyers to negotiate and include contingencies in their offers.

Though interest rates are slightly higher than what we’ve been used to, there are many options for buying your rate down until you can refinance. When rates do eventually drop, buyer competition will be back in full force.

In the spirit of Valentine's Day, think of it this way...marry your house, date your rate. Though you commit to a rate upfront when you buy, this does not mean you are stuck with it. You can break up with your rate for a new one when things look better.

The moral of the story here is to not wait to buy until rates come down. If you can swing it now you’ll likely avoid the intensity of the market we’ve witnessed the past several years!