There are currently some really good reasons for optimism among home buyers and sellers.
The recent drop in Federal Reserve interest rates makes the general cost of borrowing cheaper and is part of a downward trend in Fed rates that can only help to boost buyer sentiment.
Another key factor is that we are now in a post-election environment. The run up to an election is traditionally a time when many buyers pause for the outcome, but that uncertainty is now over and it will be interesting to see how this influences the market from now on.
Inventory levels of available homes for sale in this area are higher than for some considerable time, meaning that buyers have more choice today. Lack of options is often a major reason for buyers to sit on the fence longer.
The holidays are now approaching and, despite what many think about this period of time, it is always a busy one for home selling for a variety of reasons, including taxation and imminent job relocation. Consequently it can be a very good period for buyers to secure the best deal when sellers are often extremely keen to close before year end.
While it's true to say that mortgage rates are struggling to regain their welcome recent downward momentum, there are still some truly compelling reasons that suggest we will again see excellent activity as the year begins to wind down.
Contact us at 435-327-2090 to informally discuss your best strategy.
