Home prices are falling…and so are interest rates. But the uncertainty has led to a wait-and-see public when it comes to home buying. One thing is for certain, the Fed’s actions have resulted in home prices cooling and the interest rates on mortgages seem to be starting to come down in response. There’s always a lag on these markets, but if you want a home you should be paying attention: Homes that may have undergone a bidding war one year ago are once again attainable with fewer buyers competing.
And, if you are selling your home, or thinking of doing so in the next year there is a high likelihood that your price ceiling for the near term. While home values aren’t expected to plummet they are going to fall. You may not get that price again for the foreseeable future.
Here’s the article in question.
https://www.realtor.com/news/trends/home-prices-just-hit-a-turning-point-after-nearly-a-year-but-will-buyers-miss-it-amid-the-holidays/
