Many clients have asked me if they should sell now or when will the seller’s market decrease.
If the government increases interest rates, the buyers won’t be able to afford as much as they can today at 3% financing rates. A buyer currently can get a loan for a $500,000 house but if rates increase to 4% that same buyer will be able to only afford a $400,000 home.
As consumers start spending post-pandemic dollars, inflation will increase and thus the interest rate will also increase.
When will this happen? We have no crystal ball but we are guessing 2022.
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