The National Association of Realtors predict that 2023 will be the year where long-lost normalcy will return to the housing market, with mortgage rates stabilizing and and home prices moderating. Mortgage rates have decreased to a 4 month low. An interesting strategy we are seeing in the market these days is a "mortgage buy-down,” where the buyer or seller pays points to lower the buyer’s interest rate. This can benefit the buyer with lower payments and can also benefit the seller by increasing the buyer’s buying power.
Sellers: Inventory is at an all time low and will gradually increase into the spring and summer. If you are thinking of selling in 2023, now is a great time to get your home on the market so it can stand out.
Buyers: This is a favorable market for buyers, and we are seeing a lot more flexibility and cooperation when dealing with sellers. Let us help you negotiate a great deal!
