Real Estate Market Snapshot: 10/21/24

An hour glass with pink sands running through it stands behind a pile of coinage. (Time is money!)

I have talked to quite a few would-be home buyers in the last six months, whom have been waiting on the mortgage rates to go down. I came across a recent article this morning which is VERY informative and gives a good snapshot on the current state of the housing market. There's a lot of good information here about what's going on presently with the mortgage rates and what we expect to see going forward. Definitely worth a read! https://www.npr.org/.../mortgage-rates-housing-market...

Just two things that I wanted to quickly highlight:

"Experts advise against trying to time the market" - Which I agree with 100%! You can ALWAYS 'date the rate' and if it drops more than 1% or more below the rate where you purchased you can refinance, but housing prices usually trend upwards and waiting around indefinitely for a rate change can be a costly mistake when waiting months turns into waiting years and housing markets continue to rise.

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With increased inventory, Days On Market trending upwards, and the regular fall slow-down of the real estate market, NOW might be a good time for buyers to grab a deal! As your locally licensed, real estate expert in the Willamette Valley, I’m happy to help! Give me a call if you're looking this fall!